Theories of the Firm - Implications for Strategy Research

Publication Type

Journal Article

Publication Date

1994

Abstract

Theories of the firm provide a perspective for thinking about organizational objectives and a framework for analysing important research problems. Here, we demonstrate the usefulness of several economic theories of the firm for guiding strategy research. We evaluate the relevance of each theory with regard to how the underlying conceptualization of the firm permits us to investigate issues of substantive interest to strategy researchers, and how compatible the assumptions contained within the theory are with the traditional strategy framework. We also examine the relevance of the theories from the viewpoint of philosophical methodology. We argue that, because of the integrative nature of strategy research, it is imperative for researchers to adopt multiple frameworks represented by different theories for the advancement of the field.

Discipline

Business Administration, Management, and Operations

Research Areas

Strategy and Organisation

Publication

Journal of Management Studies

Volume

31

Issue

2

First Page

165

Last Page

191

ISSN

0022-2380

Identifier

10.1111/j.1467-6486.1994.tb00770.x

Publisher

Wiley

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