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This excellent book provides a welcome collection of David Teece's
most important writings in the related areas of strategy and
technology and their implications for public policy.These papers
are the result of an ambitious agenda to analyse concepts in
economics, organizational theory and management policy to provide a
uniquely integrated global view of strategy, technology and public
policy. Key topics which are addressed include: fundamental issues
in strategic management technology and technology transfer
antitrust regulation and deregulation technology policy The volume
also includes an extensive introduction which provides a
biographical insight into the development of the author's career
and his continuing research into the areas the articles in this
volume exlore. David Teece's style of writing is succinct and
logical and the material presented in this volume, and in its
companion Economic Performance and the Theory of the Firm, will be
of great interest to economists, managers, consultants and policy
makers.
This book presents for the first time a careful selection of David
Teece's most important writings on the theory of the firm and its
implications for economic performance. After a biographical
introduction which sheds new light on his research programme, the
book focuses on key areas, including:- the nature of the firm and
dynamic capabilities diversification and vertical integration
internal organization and economic performance international scope,
alliances and joint ventures The volume also includes an extensive
introduction which provides a biographical insight into the
development of the author's career and his continuing research into
the areas the articles in this volume exlore. David Teece's style
of writing is succinct and logical and the material presented in
this volume, and its companion Strategy, Technology and Public
Policy, will be of great interest to economists, managers,
consultants and policy makers.
This volume, originally published in 1982, brings together
economists, political scientists and industry experts to explain
OPEC's past achievements and future (in the early 1980s) prospects.
The book opens with a clear, concise amd easy to follow treatment
of the economics of exhaustible resources under monopoly and
competition, the framework frequently used to examine pricing
issues. The role of wealth maximisation, wealth satisficing and
political factors as OPEC objectives are discussed and implications
for world oil prices assessed. The stability of OPEC and the
limitations of its pricing policy are examined and OPEC oil pricing
and importers' policies analysed.
This volume, originally published in 1982, brings together
economists, political scientists and industry experts to explain
OPEC's past achievements and future (in the early 1980s) prospects.
The book opens with a clear, concise amd easy to follow treatment
of the economics of exhaustible resources under monopoly and
competition, the framework frequently used to examine pricing
issues. The role of wealth maximisation, wealth satisficing and
political factors as OPEC objectives are discussed and implications
for world oil prices assessed. The stability of OPEC and the
limitations of its pricing policy are examined and OPEC oil pricing
and importers' policies analysed.
This stimulating research review analyses how the theory of the
firm evolved from several core concepts and building blocks that
underpin this important area of economics. It discusses a variety
of perspectives from leading scholars in the field, including the
basic elements of: risk and uncertainty; information and knowledge;
bounded rationality and decision making; motives and incentives;
resources and capabilities; and transactions. The review goes on to
examine how the various elements are integrated into the modern
Theory of the Firm with the notion of organization coming
increasingly to the fore. It focuses on norms; rules and routines;
the entrepreneur; governance; hierarchies; co-operation, teams and
networks; innovation and appropriability. This comprehensive review
will be an invaluable reference tool for all researchers and
students with an interest in the modern theory of the firm,
highlighting how it needs to evolve further to address the
important management and policy issues of our time.
This cohesive collection brings together David J. Teece's most
important work on the nexus of innovation and competition policy.
He was one of the first to flag the importance of innovation issues
to competition policy 25 years ago. He has also pioneered the
application of economic and organizational principles to issues in
the management of innovation. Throughout these essays, Professor
Teece shows how technological advances, the advent of the Internet
and other recent shifts in the global business landscape have
placed businesses in a radically altered situation from even just a
few decades ago. He clearly elucidates the need for both businesses
and policymakers to adapt to this rapidly evolving landscape by
embracing and fostering next-generation competition policies.
Topics discussed include antitrust policy, technology strategies,
competition policy, market power and intellectual property issues.
Students and professors of business and management, innovation
studies, intellectual property and competition lawyers will find
this volume a critical asset to their work. Policymakers and
regulators will also benefit immensely from this lucid and
comprehensive collection.
How do firms compete? How do firms earn above normal returns?
What's needed to sustain superior performance long term? An
increasingly powerful answer to these fundamental questions of
business strategy lies in the concept of dynamic capabilities.
These are the skills, processes, routines, organizational
structures, and disciplines that enable firms to build, employ, and
orchestrate intangible assets relevant to satisfying customer
needs, and which cannot be readily replicated by competitors.
Enterprises with strong dynamic capabilities are intensely
entrepreneurial. They not only adapt to business ecosystems; they
also shape them through innovation, collaboration, learning, and
involvement.
David Teece was the pioneer of the dynamic capabilities
perspective. It is grounded in 25 years of his research, teaching,
and consultancy. His ideas have been influential in business
strategy, management, and economics, and are relevant to
innovation, technology management, and competition policy.
Through his consultancy and advisory work he has also brought these
ideas to bear in business and policy making around the world.
This book is the clearest and most succinct statement of the core
ideas of dynamic capabilities. Teece explains their genesis,
application, and how they offer an alternative approach to much
conventional strategic thinking grounded in simplistic and outdated
understandings of industrial organizations and the foundations of
competitive advantage. Accessibly written and presented, it will be
an invaluable and stimulating tool for all those who want to
understand this important contribution to strategic thinking, be
they MBA students, academics, managers, or consultants.
This essential collection of papers by David J. Teece explores
ideas of both theoretical and practical significance in the field
of strategic management, particularly the importance of dynamic
capabilities for organizations in industries undergoing change.In
an era of global specialization, mainstream theories of the firm
that obsess on contracts and production functions, knowledge
accumulations, and knowledge dispersion are poor abstractions of
reality. The author's understanding of contemporary realities is
well reflected and clearly articulated in this critical volume.
Topics addressed include the development and elaboration of the
dynamic capabilities framework (with an emphasis on the
orchestration of resources both inside and outside the firm to
capture value), as well as the theoretical and conceptual
understanding of the essence of the firm. Students, professors and
researchers working in economics, business and management,
organization studies and innovation studies will find this book an
invaluable resource.
The Reinventing Capitalism series seeks to feature explorations
about the crisis of legitimacy facing capitalism today, including
the increasing income and wealth gap, the decline of the middle
class, threats to employment due to globalization and
digitalization, undermined trust in institutions, discrimination
against minorities, global poverty and pollution. The series is
intended to be a collection of authoritative literature reviews of
foundational topics on renewing capitalism. Being grounded in a
business and management perspective, the series incorporates
insights from multiple disciplines that promise to substantiate the
causes of the current crisis and potential solutions what needs to
be done. This Element provides an overview of the series, explains
the background of its development and contains eight sections that
deal with various facets of the subject from the perspectives of a
group of top-notch authors.
Alfred D. Chandler, Jr. was, by general consensus, the pre-eminent
business historian of the twentieth century. Through a prodigious
body of work, Chandler made the study of the evolution of business
enterprise integral to the study of the evolution of economy and
society. His work combined detailed historical investigations with
grand sociological syntheses. As a result, Chandler's study of the
modern business enterprise invited social scientists and business
academics as well as historians to contribute to our understanding
of a central institution of our time.
Chandler revealed how managerial activity was central to the
functioning of successful industrial corporations, and hence to the
performance of the economy as a whole. This book gathers together
contributions from management scholars fundamentally influenced by
the work of Chandler to discuss management innovation, the ways in
which people who exercise strategic control over the allocation of
resources put in place organizational structures that can enable an
enterprise to prosper and grow. The volume offers a range of
perspectives to examine the challenges that corporate management
encounters.
This book explores factors which impact the viability and growth of
business enterprises. In particular, the role of entrepreneurship,
organizational learning, and business strategy - including
licensing strategy - are considered in some detail. It presents
fundamental thinking about business organization and provides the
conceptual framework that scholars need to understand complex
business organization, managerial processes, and competitive
strategy.
The international transfer of technology is one of the most
important features of the global economy. However, the literature
on it is sparse. This book encapsulates the author's contributions
to this field over the last three decades and provides insights
into the manner, mechanisms, and cost of technology transfer across
national boundaries and the implications for (the theory of) the
international firm.
Understanding Industrial and Corporate Change contains pioneering
work on technological, organizational, and institutional change
from leading theorists and practitioners such as Joseph Stiglitz,
Oliver Williamson, Masahiko Aoki, Alfred D. Chandler Jr., and
Sidney Winter. Trans-disciplinary in its approach, the book
explores three distinct themes: Markets and Organizations;
Evolutionary Theory and Technological Change; and Strategy,
Capabilities, and Knowledge Management. The chapters are drawn from
the journal Industrial and Corporate Change, reflecting the diverse
contributions it has published since 1992 in such areas as business
history, industrial organization, strategic management,
organizational theory, innovation studies, organizational behavior,
economics, political science, social psychology, and sociology.
Understanding Industrial and Corporate Change provides an
accessible account of recent research and theory on technological,
organizational, and institutional change for academics and advanced
students of Business and Management, Organization Theory,
Technology and Innovation Studies, and Industrial Economics.
Managing Industrial Knowledge illuminates the complex processes at work in the creation and successful transfer of corporate knowledge. It is now generally recognized that the competitive advantages of firms depends on their ability to build, utilize and protect knowledge assets. In this volume many of the foremost international authors and pioneers of the study of knowledge in firms present their latest work and insights into organizational knowledge and innovation. In a world where markets, products, technologies, competitors, regulations, and even societies change rapidly, continuous innovation and the knowledge that produces innovation have become key. The chapters in this keynote volume shed new light on the contextual factors in knowledge creation, the links between knowledge and innovation in all aspects of business life and the processes by which these may be fostered or lost in organizations.
Managing Industrial Knowledge illuminates the complex processes at work in the creation and successful transfer of corporate knowledge. It is now generally recognized that the competitive advantages of firms depends on their ability to build, utilize and protect knowledge assets. In this volume many of the foremost international authors and pioneers of the study of knowledge in firms present their latest work and insights into organizational knowledge and innovation. In a world where markets, products, technologies, competitors, regulations, and even societies change rapidly, continuous innovation and the knowledge that produces innovation have become key. The chapters in this keynote volume shed new light on the contextual factors in knowledge creation, the links between knowledge and innovation in all aspects of business life and the processes by which these may be fostered or lost in organizations.
This book examines transaction cost economics, the influential
theoretical perspective on organizations and industry that was the
subject of Oliver Williamson's seminal book, Markets and
Hierarchies (1975). Written by leading economists, sociologists,
and political scientists, the essays collected here reflect the
fruitful intellectual exchange that is occurring across the major
social science disciplines. They examine transaction cost
economics' general conceptual orientation, its specific theoretical
propositions, its applications to policy, and its use in systematic
empirical research. The chapters include classic texts, broad
review essays, reflective commentaries, and several new
contributions to a wide range of topics, including organizations,
regulations and law, institutions, strategic management, game
theory, entrepreneurship, innovation, finance, and technical
information.
How do firms compete? How do firms earn above normal returns?
What's needed to sustain superior performance long term? An
increasingly powerful answer to these fundamental questions of
business strategy lies in the concept of dynamic capabilities.
These are the skills, processes, routines, organizational
structures, and disciplines that enable firms to build, employ, and
orchestrate intangible assets relevant to satisfying customer
needs, and which cannot be readily replicated by competitors.
Enterprises with strong dynamic capabilities are intensely
entrepreneurial. They not only adapt to business ecosystems; they
also shape them through innovation, collaboration, learning, and
involvement.
David Teece was the pioneer of the dynamic capabilities
perspective. It is grounded in 25 years of his research, teaching,
and consultancy. His ideas have been influential in business
strategy, management, and economics, and are relevant to
innovation, technology management, and competition policy.
Through his consultancy and advisory work he has also brought
these ideas to bear in business and policy making around the world.
This book is the clearest and most succinct statement of the core
ideas of dynamic capabilities. Teece explains their genesis,
application, and how they offer an alternative approach to much
conventional strategic thinking grounded in simplistic and outdated
understandings of industrial organizations and the foundations of
competitive advantage. Accessibly written and presented, it will be
an invaluable and stimulating tool for all those who want to
understand this important contribution to strategic thinking, be
they MBA students, academics, managers, orconsultants.
The astute management of technology is essential for firms who wish to compete within the new economy. In this in-depth study, David Teece considers how firms can exploit technological innovation, protecting their intellectual capital, while staying ahead of the competition. Providing frameworks as well as practical advice, he looks in particular at the organization structures most likely to support innovation, and how managerial decisions and strategy affect the division of the gains. Essential reading for academics, managers, and students alike who want to keep abreast of contemporary strategic challenges.
This book brings together ideas of leading thinkers in business strategy, organization studies, and innovation, exploring the dynamics of competitiveness and the origins of firms' capabilities.
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