Research in strategy, economics, and Michael Porter

Article Abstract:

This article links up with recent discussions of the strategy/economics nexus. In contrast to most of the proponents and opponents of economics in strategy thinking, a balanced pluralist perspective is adopted. According to this, a discipline should strike a balance between the generation of new theoretical alternatives and the selection among them. Applying this general idea, I argue that the strategy field is too pluralistic, and that the unfortunate consequences of excessive pluralism and eclecticism may be remedied by economics playing a larger role in the conversation of strategy researchers. This does not necessarily mean standard neoclassical economics or new industrial organization economics; evolutionary economics, for example, is a serious contender, too. The evolution of Michael Porter's thinking is used as a case for demonstrating some of the advantages and some of the dangers of economics in the strategy field, and for illustrating points about eclecticism and pluralism. (Reprinted by permission of the publisher.)

Criticism and interpretation, Strategic planning (Business), Pluralism, Porter, Michael

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Japanese management: coping with British industrial relations

Article Abstract:

A survey analysis of industrial relations strategies at two Japanese-owned firms in Great Britain indicated a fundamental difference in focus from the industrial relations practices in effect at British-owned firms. While the latter view management's role in industrial relations as essentially a mediative one, the Japanese approach industrial relations as a possible impediment to the overall goal of ideal production. Consequently, Japanese strategies place emphasis on incentives, union structures that provide ease of approach, and innovative productivity enhancers at both the worker and supervisor levels.

Japan, International aspects, Human resource management, Influence, Management research, Great Britain

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Employee-ownership and economic decline in Western industrial democracies

Article Abstract:

The economic downturn of the 1970s and early 1980s has resulted in a significant decrease in industrial production in the developed world. The structural unemployment that has resulted from plant closings has pressured governments to intervene to preserve manufacturing jobs. One of the most cost effective ways of accomplishing this, with the least disruption of the free enterprise system, is state promotion of employee owned factories.

Economic aspects, Employee ownership, Working class

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