Theory of the Firm for Strategic Management

摘要

This book integrates and expands on key theories on strategy and economic value developing a value-based theory for the organisation. The book assumes a considerable level of prior knowledge and understanding in relation to strategy, strategic thinking and economic theory and is therefore more appropriate for postgraduate study.rnThe book is divided into two sections Part 1 covering Theories of the Firm and Part 11 Firm strategies. The opening pages of Part 1 looks at the firm i.e. the company, business or corporation through four theoretical "lenses", discussing the organisation as a production init, as a decision making process as a contracting solution and as a collection of resources. The ensuing chapters in Part 1 provide a comprehensive and in depth review of the strategy and economic literature including for example Prahalad and Hamel, Grant, Coase and Porter. Chapter 4 attempts to shed light on the difficult question of what is economic value? It examines value from the perspective of economic, marketing finance and strategy exploring the range of sources of customer value creation.