Firms, markets, and economic change : a dynamic theory of business institutions

Traditonal western forms of corporate organization have been called into question by the success of Japanese keiretsu . Firms, Markets and Economic Change draws on industrial economics, business strategy, and economic history to develop an evolutionary model to show when innovation is best undertaken. The authors argue that innovation is a complex process that defies neat categorization and government policy should be to facilitate change rather than to direct it. Book Cover......Page 1 Title......Page 4 Contents......Page 5 List of figures and tables......Page 10 Acknowledgments......Page 12 INTRODUCTION......Page 14 CAPABILITIES, STRATEGY AND THE FIRM......Page 20 A DYNAMIC THEORY OF THE BOUNDARIES OF THE FIRM......Page 33 VERTICAL INTEGRATION IN THE EARLY AMERICAN AUTOMOBILE INDUSTRY......Page 59 EXTERNAL CAPABILITIES AND MODULAR SYSTEMS......Page 81 INERTIA AND INDUSTRIAL CHANGE......Page 114 INNOVATION, NETWORKS AND VERTICAL INTEGRATION......Page 133 CONCLUSION......Page 156 Notes......Page 164 Bibliography......Page 177 Index......Page 191 Traditonal western forms of corporate organization have been called into question by the success of Japanese keiretsu. Firms, Markets and Economic Change draws on industrial economics, business strategy, and economic history to develop an evolutionary model to show when innovation is best undertaken. The authors argue that innovation is a complex process that defies neat categorization and government policy should be to facilitate change rather than to direct it. Annotation Traditonal western forms of corporate organization have been called into question by the success of Japanese keiretsu. Firms, Markets and Economic Changedraws on industrial economics, business strategy, and economic history to develop an evolutionary model to show when innovation is best undertaken. The authors argue that innovation is a complex process that defies neat categorization and government policy should be to facilitate change rather than to direct it