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A subjectivist approach to strategic management

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  • Tony Fu-Lai Yu

    (School of Economics and Management, University College, University of New South Wales (Australian Defence Force Academy), Canberra, ACT 2600, Australia)

Abstract

Acknowledging the shortcomings of contemporary research on the economics of strategy, this paper proposes a subjectivist approach to strategic management. This subjectivist perspective is originated in German economics and found its base in the Austrian school of economics. Based largely on the works on Max Weber, Alfred Schutz and Ludwig von Mises, this paper develops a subjective interpretation framework which is applied to various fields of strategic management: entrepreneurship, organisation, vertical integration, innovation, marketing and advertising. Copyright © 2003 John Wiley & Sons, Ltd.

Suggested Citation

  • Tony Fu-Lai Yu, 2003. "A subjectivist approach to strategic management," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 335-345.
  • Handle: RePEc:wly:mgtdec:v:24:y:2003:i:4:p:335-345
    DOI: 10.1002/mde.1125
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    References listed on IDEAS

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    1. Lane, David & Malerba, Franco & Maxfield, Robert & Orsenigo, Luigi, 1996. "Choice and Action," Journal of Evolutionary Economics, Springer, vol. 6(1), pages 43-76, February.
    2. Nicolai J. Foss & Volker Mahnke, 1998. "Strategy Research and the Market Process Perspective," DRUID Working Papers 98-29, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    3. Langlois, Richard N & Foss, Nicolai J, 1999. "Capabilities and Governance: The Rebirth of Production in the Theory of Economic Organization," Kyklos, Wiley Blackwell, vol. 52(2), pages 201-218.
    4. Young Choi, 1999. "Conventions and Economic Change: A Contribution toward a Theory of Political Economy," Constitutional Political Economy, Springer, vol. 10(3), pages 245-264, October.
    5. Langlois, Richard N & Cosgel, Metin M, 1993. "Frank Knight on Risk, Uncertainty, and the Firm: A New Interpretation," Economic Inquiry, Western Economic Association International, vol. 31(3), pages 456-465, July.
    6. McCloskey,Deirdre N., 1994. "Knowledge and Persuasion in Economics," Cambridge Books, Cambridge University Press, number 9780521436038.
    7. McCloskey,Deirdre N., 1994. "Knowledge and Persuasion in Economics," Cambridge Books, Cambridge University Press, number 9780521434751.
    8. Klein, Daniel B, 1999. "Discovery and the Deepself," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 11(1-2), pages 47-76.
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