Economic Foundations of Strategy
- Joseph T. Mahoney - University of Illinois at Urbana-Champaign, USA
Economic Foundations of Strategy provides not only the essential basic tenets of strategy, it also shows the inter-relationships of five major theories of the firm: the behavioral theory; transaction costs theory; property rights theory; agency theory; and dynamic resource-based theory. Even though technological, organizational and institutional change advances breathlessly, the theories of the firm provided in this research book are durable principles that have stood, and the author maintains will continue to stand, the test of time. Economic Foundations of Strategy emphasizes the complementarities among these five theories of organization, and the potential for integrating these theories in the evolving science of organization. Applications of these theories to business practice are emphasized throughout the book.
Key Features: • Provides an integrative approach -Covers economics (e.g., transaction costs, property rights and agency theory); -Covers finance (e.g., real options theory) -Covers organization theory (e.g., the behavioral theory of the firm); and -Covers modern strategic management theory (e.g., dynamic resource-based theory). • Connects "Know-why" and "Know-how" -Covers the theoretical material deeply enough to be of use to advanced students -Connects this research to business applications to be of use to those interested in business practice
Excellent book, but not enough to be a textbook for the whole course.
The book offers a comprehensive review of contemporary theories of the firm. As it is suitable for the comparison of the governance versus the competence perspective in strategic management, we will add it to our course reading list.
A superb theoretical overview of business foundations. Best in its class. Of great value for MA level, esp. seminar work.
Rather not suitable for BA level classes.
It condenses current thought and research in the area of strategy. Not too many books available for PhD students. This book does a great job at fulfilling this need.
A well written text on economic strategy.