Introduction: Economics Meets Sociology in Strategic Management
Advances in Strategic Management, Volume 17 (Forthcoming)
26 Pages Posted: 21 Mar 2014
Date Written: March 20, 2014
Why do firms do what they do? Why does one cut prices while its neighbor buys out competitors? Why does one diversify into new industries while its neighbor spins off subsidiaries to focus on its core competence? Why do some strategies rise while others fall? These are central concerns of both strategic management theorists and economic sociologists. We bring the two fields together to discuss their approaches to these questions with the goal of encouraging dialogue and cross-fertilization. Each field provides a snapshot of firm behavior from a particular vantage point. When these snapshots are integrated, something closer to a three-dimensional view of the firm appears.
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By Wenhong Chen