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Strategic management and the economics of the firm How to reconcile the brother enemies?

Strategic management and the economics of the firm How to reconcile the brother enemies? Purpose – The purpose of this paper is to argue for the need to reconcile managerial and economic approaches of the firm. Strategic management seems to be the perfect playground for this. Design/methodology/approach – The paper shows many divergences between the economic and managerial approach of the firm but also highlights many topics where both approaches come in handy. Findings – The authors underline the topics and theories in strategic management with the greatest benefits of mixing economics and management can be expected and they echo the papers in this special issue. Practical implications – The paper comes as a warning for those using only managerial perspective without listening to the caveats and ideas put forward by the economic approach of the firm. Originality/value – The paper offers an agenda of how economics and management could be reunited, and shows the relevance of doing so to both theory and practice. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Strategy and Management Emerald Publishing

Strategic management and the economics of the firm How to reconcile the brother enemies?

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Publisher
Emerald Publishing
Copyright
Copyright © 2012 Emerald Group Publishing Limited. All rights reserved.
ISSN
1755-425X
DOI
10.1108/17554251211276344
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to argue for the need to reconcile managerial and economic approaches of the firm. Strategic management seems to be the perfect playground for this. Design/methodology/approach – The paper shows many divergences between the economic and managerial approach of the firm but also highlights many topics where both approaches come in handy. Findings – The authors underline the topics and theories in strategic management with the greatest benefits of mixing economics and management can be expected and they echo the papers in this special issue. Practical implications – The paper comes as a warning for those using only managerial perspective without listening to the caveats and ideas put forward by the economic approach of the firm. Originality/value – The paper offers an agenda of how economics and management could be reunited, and shows the relevance of doing so to both theory and practice.

Journal

Journal of Strategy and ManagementEmerald Publishing

Published: Oct 26, 2012

Keywords: Strategic management; Economics; Strategy; Management; Theory of the firm

References