Strategy Research and

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Strategy Research and

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Title: Strategy Research and
Author: J. Foss, Nicolai, Volker Mahnke
Abstract: We argue that strategizing fundamentally concerns disequilibrium phenomena, such as discovery, innovation, resource-combination, imagination - in short, entrepreneurship. Therefore, the understanding of strategizing is likely to be led astray by drawing too heavily on equilibrium theories. Arguably, the three dominant economic approaches to strategy - the Porter industry analysis approach, the new industrial organization, and the ressourcebased approach - are characterized precisely by their strong reliance on equilibrium methodology. We argue that the market process approach in its Austrian version offers much inspiration for bringing process issues to bear on strategy issues.
URI: http://hdl.handle.net/10398/8093
Date: 2010-06-30

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