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Strategic management and economics

Author

Listed:
  • Richard P. Rumelt
  • Dan Schendel
  • David J. Teece

Abstract

This essay examines the relationship between strategic management and economics. It introduces the special issue on this same topic by providing a guide to the eight papers contained in the special issue, and it offers the guest editors viewpoints on the contributions of each discipline to the other. The essay notes the major contribution from economics has been primarily from the industrial organization literature, with promises of important gains to be made from the ‘new’ economics as it breaks away from the neoclassical theory of the firm. Contributions from strategic management to economics are noted. Areas for further research utilizing the relationship between strategic management and economics are also indicated.

Suggested Citation

  • Richard P. Rumelt & Dan Schendel & David J. Teece, 1991. "Strategic management and economics," Strategic Management Journal, Wiley Blackwell, vol. 12(S2), pages 5-29, December.
  • Handle: RePEc:bla:stratm:v:12:y:1991:i:s2:p:5-29
    DOI: 10.1002/smj.4250121003
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    File URL: https://doi.org/10.1002/smj.4250121003
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    Cited by:

    1. Muhammad Azeem Qureshi & Fred H. Strønen & Marius Tyseng & Marius Urdal, 2020. "Sustainable Business in Norway: The Firm or the Industry Effect?," Sustainability, MDPI, Open Access Journal, vol. 12(8), pages 1-13, April.
    2. Bernard J. Jaworski & Robert S. Lurie, 2019. "Building marketing capabilities: principles from the field," AMS Review, Springer;Academy of Marketing Science, vol. 9(3), pages 372-380, December.
    3. Andrew L. Zacharakis, 1997. "Entrepreneurial Entry into Foreign Markets: A Transaction Cost Perspective," Entrepreneurship Theory and Practice, , vol. 21(3), pages 23-40, April.
    4. Juha Winter & Sandro Battisti & Thommie Burström & Sakari Luukkainen, 2018. "Exploring the Success Factors of Mobile Business Ecosystems," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 15(03), pages 1-23, June.
    5. Peter E. Harland & Zakir Uddin & Sven Laudien, 2020. "Product platforms as a lever of competitive advantage on a company-wide level: a resource management perspective," Review of Managerial Science, Springer, vol. 14(1), pages 137-158, February.
    6. Richard Makadok & Richard Burton & Jay Barney, 2018. "A practical guide for making theory contributions in strategic management," Strategic Management Journal, Wiley Blackwell, vol. 39(6), pages 1530-1545, June.
    7. Hart E. Posen & Sangyoon Yi & Jeho Lee, 2020. "A contingency perspective on imitation strategies: When is “benchmarking” ineffective?," Strategic Management Journal, Wiley Blackwell, vol. 41(2), pages 198-221, February.
    8. Juan Regino Maldonado & Wen Yali & Frederick Cubbage & Patricia Regino Maldonado, 2017. "Forest Resources in the Performance of Mexican Community Forest Enterprises in a Vertical Integration System," International Journal of Sciences, Office ijSciences, vol. 6(09), pages 1-15, September.
    9. Nicholas S. Argyres & Alfredo De Massis & Nicolai J. Foss & Federico Frattini & Geoffrey Jones & Brian S. Silverman, 2020. "History‐informed strategy research: The promise of history and historical research methods in advancing strategy scholarship," Strategic Management Journal, Wiley Blackwell, vol. 41(3), pages 343-368, March.
    10. Olavarrieta, Sergio & Friedmann, Roberto, 2008. "Market orientation, knowledge-related resources and firm performance," Journal of Business Research, Elsevier, vol. 61(6), pages 623-630, June.
    11. Sylvia Maxfield, 2008. "Reconciling Corporate Citizenship and Competitive Strategy: Insights from Economic Theory," Journal of Business Ethics, Springer, vol. 80(2), pages 367-377, June.
    12. 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 & Francis Journals, vol. 9(1), pages 37-60.
    13. Rahul Kapoor & Shiva Agarwal, 2017. "Sustaining Superior Performance in Business Ecosystems: Evidence from Application Software Developers in the iOS and Android Smartphone Ecosystems," Organization Science, INFORMS, vol. 28(3), pages 531-551, June.
    14. Laura Girella & Roberto Tizzano & Elisa Rita Ferrari, 2019. "Concepts travelling across disciplinary fields: the case of the business model," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 23(2), pages 373-402, June.
    15. Frohwein, Torsten, 2014. "Grundlagen der Theorie der Firma: Methodologie wissenschaftlicher Theorien," Research Papers on Innovation, Services and Technology 1/2014, University of Stuttgart, Institute of Business Administration, Department I - Institute of Research & Development and Innovation Management.
    16. Mahoney, Joseph T., 1995. "The management of resources and the resource of management," Journal of Business Research, Elsevier, vol. 33(2), pages 91-101, June.
    17. Björn Michaelis & Shalini Rogbeer & Lars Schweizer & Zafer Özleblebici, 0. "Clarifying the boundary conditions of value creation within dynamic capabilities framework: a grafting approach," Review of Managerial Science, Springer, vol. 0, pages 1-24.
    18. Julie A. Caswell, 1992. "Using industrial organization and demand models for agribusiness research," Agribusiness, John Wiley & Sons, Ltd., vol. 8(6), pages 537-548.
    19. Fabio Pieri & Riccardo Verruso, 2019. "The determinants of corporate profitability in the Italian domestic appliances industry," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 46(1), pages 83-115, March.

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