Explores a theory of the firm produced through an exchange between management theory and economics. This books attempts to show that, in the process, economics provides a foundational element for strategy research whilst developing a more realistic theory of the firm with a greater emphasis on its internal features.

This volume brings together prominent voices on competence, governance, and entrepreneurship to advance and stimulate economic strategy research. By pooling and mobilizing intellectual resources of both competence and governance perspectives, the contributions show that an innovative joint venture between these two main perspectives can lead to a new avenue of future research on strategic issues such as 'corporate growth', 'interfirm cooperation', and 'corporate entrepreneurship.'

The work of G.B. Richardson has given insights into key issues and debates such as markets versus hierarchies, price stability, the economics of information and the concept of competition based upon differentiated firms.
This collection encourages further development of Richardson's themes. It will make excellent reading for students looking at the capability or competence approach to the firm, and for all those wishing to familiarise themselves with the work of this important economist.