Chapter

The ‘Strategic Theory of the Firm’

Nicolai J. Foss

in Strategy, Economic Organization, and the Knowledge Economy

Published in print February 2005 | ISBN: 9780199240647
Published online April 2005 | e-ISBN: 9780191602177 | DOI: http://dx.doi.org/10.1093/0199240647.003.0002
 The ‘Strategic Theory of the Firm’

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Strategy research is increasingly influenced by economic theories of the firm, particularly modern organizational economics (OE) and a host of currents classified as ‘knowledge-based view of the firm’ (KBV). There is a tendency in strategy research to draw on only one of these two approaches: ‘isolationism’ and ‘integrationism’. Isolationism implies that the strategic theory of the firm should be found in either the KBV or on OE. Integrationism implies that research on the strategic theory of the firm should be based on ideas from both OE and KBV. An argument in favour of integrationism is presented.

Keywords: strategy research; organizational economics; knowledge-based view of the firm; integrationism; isolationism

Chapter.  17934 words. 

Subjects: Economic Systems

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