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Abstract

This paper argues that an adequate approach to the firm should be able to accommodate the complexities of actual firm development. The latter is conceptualized in terms of three general stages: prime movers or drivers of change, change processes, and change attractors. Furthermore, any "real-world" firm is both a technical and an institutional unit. To emphasize the importance of "real firm" analysis, the discussion presented here revolves around an understanding of the much considered case of General Motors and Fisher Body integration has developed over time. Generalization from this case suggests that an integrated view of the firm is necessary that combines the three stages and the two bases (technical and institutional). Six general perspectives on the firm are identified as having technical or institutional bases that are relevant in each of the three stages. This integrated approach to the firm is explored in terms of the general topic of firm development. It is concluded that, without an integrated approach to firm development, a potentially biased or incomplete analysis can result.

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File URL: http://hal.archives-ouvertes.fr/docs/00/53/84/14/PDF/JEE-2010.pdf
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Bibliographic Info

Paper provided by HAL in its series Post-Print with number hal-00538414.

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Date of creation: 2011
Date of revision:
Publication status: Published, Journal of Evolutionary Economics, 2011, 21, 4, 665-686
Handle: RePEc:hal:journl:hal-00538414

Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00538414/en/
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Web page: http://hal.archives-ouvertes.fr/

Related research

Keywords: economics of the firm; firm development; vertical integration;

Other versions of this item:

Find related papers by JEL classification:

• D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
• L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
• L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment

References

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19. Geoffrey Hodgson, 2002. "The Legal Nature of the Firm and the Myth of the Firm-Market Hybrid," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 9(1), pages 37-60.
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Cited by:

1. Michael Dietrich & Jackie Krafft, 2012. "Economics and Theory of the Firm, Chap. 1 of the Handbook on Economics and Theory of the Firm, M. Dietrich and Jackie Krafft (eds), Edward Elgar: Cheltenham, 2012," Post-Print halshs-00742302, HAL.

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