Theory of the Firm for Strategic Management

Economic Value Analysis

Business & Finance, Management & Leadership, Planning & Forecasting
Cover of the book Theory of the Firm for Strategic Management by Manuel Becerra, Cambridge University Press
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Author: Manuel Becerra ISBN: 9780511737879
Publisher: Cambridge University Press Publication: February 5, 2009
Imprint: Cambridge University Press Language: English
Author: Manuel Becerra
ISBN: 9780511737879
Publisher: Cambridge University Press
Publication: February 5, 2009
Imprint: Cambridge University Press
Language: English

Strategic decisions deal with the long-term direction of the firm and its main activities, usually the responsibility of the top managers in an organization. Because the firm is the critical unit of analysis in strategy, we need to define what firms are, how they create value, and what their organizational boundaries are in order to understand their overall performance. However, this must be done in a manner that is most useful for strategic analysis and decision making. In other words, we need a theory of the firm for business strategy. Theory of the Firm for Strategic Management integrates and expands key existing theories, like transaction costs economics and the resource-based view, to develop a value-based theory of the firm. This provides a framework to show how firms can create value for customers and, at the same time, capture economic profits for their owners through business, corporate, international, and social strategies.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Strategic decisions deal with the long-term direction of the firm and its main activities, usually the responsibility of the top managers in an organization. Because the firm is the critical unit of analysis in strategy, we need to define what firms are, how they create value, and what their organizational boundaries are in order to understand their overall performance. However, this must be done in a manner that is most useful for strategic analysis and decision making. In other words, we need a theory of the firm for business strategy. Theory of the Firm for Strategic Management integrates and expands key existing theories, like transaction costs economics and the resource-based view, to develop a value-based theory of the firm. This provides a framework to show how firms can create value for customers and, at the same time, capture economic profits for their owners through business, corporate, international, and social strategies.

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