Markets, firms, and the process of economic development

• 成果类型: Article
• 署名作者: Moran, P; Ghoshal, S
• 署名单位: University of London; London Business School
• 刊物名称: ACADEMY OF MANAGEMENT REVIEW
• ISSN/ISSBN: 0363-7425
• DOI: 10.5465/AMR.1999.2202128
• 发表日期: 1999
• 页码: 390-412
• 关键词: COMPETITIVE ADVANTAGE; STRATEGIC MANAGEMENT; INNOVATION; GROWTH; capabilities; ORGANIZATIONS; COSTS; rent; size

摘要

We develop a framework to describe value creation as a process comprising resource combinations and exchanges and use the framework to show how organizations in general, and business firms in particular, interact with markets to create economic value for themselves, for their members, and for society. The theory offers an explanation of why neither a market nor a firm, by itself, can achieve adaptive efficiency and why institutional pluralism contributes to the process of economic development.