Economic Foundations of Strategy helps clarify the theoretical foundations of management strategy. It identifies five theories of particular importance to the strategy field, and outlines the contributions of particularly influential works in each area. The book helps find answers for five questions regarding key issues in strategy using economic theory: How can organizations operate efficiently? How can firms minimize costs? How can firms create and allocate wealth? How can firms align individual self-interest? How can resources be acquired, developed and deployed to improve the likelihood of survival and profitable growth?
Joseph Mahoney is Professor, Department of Business Administration, the University of Illinois Urbana-Champaign. He has won the Executive MBA Outstanding Teaching Award in 1995, 1996, 1998 and 1999. Professor Mahoney teaches undergraduate, M.B.A., Executive M.B.A., and Ph.D. courses in strategic management and business economics, and his research interest include corporate governance and organizational economics. He is on the editorial board of the Strategic Management Journal, and his research has appeared in refereed publications such as, Journal of Management Studies, Managerial and Decision Economics, Journal of Agricultural and Resource Economics, Strategic Management Journal, Journal of Business Research, and Journal of Management Inquiry.
Editor's Introduction - Anne Huff Foreword - Oliver E. Williamson Preface Overview Chapter 1 Behavioral Theory of the Firm Chapter 2 Transaction Costs Theory Chapter 3 Property Rights Theory Chapter 4 Agency Theory Chapter 5 Resource-based/Dynamic Capabilities Chapter 6 The Theoretic Building Blocks of Organizational Economics