Strategy Research and the Market Process Perspective

Nicolai Foss () and Volker Mahnke

No 98-29, DRUID Working Papers from DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies

Abstract: We argue that strategizing fundamentally concerns disequilibrium phenomena, such as discovery, innovation, resource-combination, imagination - in short, entrepreneurship. Therefore, the understanding of strategizing is likely to be led astray by drawing too heavily on equilibrium theories. Arguably, the three dominant economic approaches to strategy - the Porter industry analysis approach, the new industrial organization, and the ressourcebased approach - are characterized precisely by their strong reliance on equilibrium methodology. We argue that the market process approach in its Austrian version offers much inspiration for bringing process issues to bear on strategy issues.

Keywords: Strategy; organization; competitive advantage. (search for similar items in EconPapers)
JEL-codes: D21 L10 M13 (search for similar items in EconPapers)
Date: 1998
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://wp.druid.dk/wp/19980029.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aal:abbswp:98-29

Access Statistics for this paper

More papers in DRUID Working Papers from DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies
Bibliographic data for series maintained by Keld Laursen ().