search query: @author Teece, D.J. / total: 8
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| Author: | Pitelis, C.N. Teece, D.J. |
| Title: | The (new) nature and essence of the firm |
| Journal: | European management review
2009 : VOL. 6:1, p. 5-15 |
| Index terms: | companies innovation markets competitive advantage models theories |
| Language: | eng |
| Abstract: | Explanations of the nature (herein as: nat.) and scope of firms, e.g. transaction costs, property rights etc. can be integrated into a more general capability-based theory of the nat. and essence of the firm recognizing the importance of creating and capturing value from innovation. It is noted that there is often required entrepreneurial (co-)creation of markets for the appropriability of returns from creative and innovative activity to be attained. It is suggested that the nat. and objective of the firm in an economy with innovation and incomplete markets is to gain value (or profit) from its actions and advantages, and that the way of the firm trying to achieve this is its essence. |
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