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The Business of Economics

John Kay

Published in print:
1996
Published Online:
November 2003
ISBN:
9780198292227
eISBN:
9780191596520
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0198292228.001.0001
Subject:
Economics and Finance, Microeconomics

The first section of the book is concerned with how economics is, and should be used, in business. It stresses that the value of economics lies in being able to provide us with a better understanding ... More


A Brief History of Business Strategy

John Kay

in Foundations of Corporate Success: How Business Strategies Add Value

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198289883
eISBN:
9780191718205
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828988X.003.0021
Subject:
Economics and Finance, Microeconomics

This chapter describes the evolution of business strategy. It begins with the 1960s perspective in which strategy was largely equated with corporate planning; the 1970s see an emphasis on ... More


Foundations of Corporate Success: How Business Strategies Add Value

John Kay

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198289883
eISBN:
9780191718205
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/019828988X.001.0001
Subject:
Economics and Finance, Microeconomics

Corporate success derives from a competitive advantage, which is based on distinctive capabilities. Competitive advantage relates to the unique character of a firm's relationship with its suppliers, ... More


The Structure of Strategy

John Kay

in Foundations of Corporate Success: How Business Strategies Add Value

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198289883
eISBN:
9780191718205
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828988X.003.0001
Subject:
Economics and Finance, Microeconomics

There is a fundamental difference between wish‐driven strategies and strategies based on the effective match between external relationships of the firm and its own distinctive characteristics. The ... More


Conclusions

John Kay

in Foundations of Corporate Success: How Business Strategies Add Value

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198289883
eISBN:
9780191718205
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828988X.003.0022
Subject:
Economics and Finance, Microeconomics

This concluding chapter discusses how the military analogy wrongly continues to exercise such a powerful hold on thinking about corporate strategy, and how it has lead to two of the most widespread ... More


Sustainability

John Kay

in Foundations of Corporate Success: How Business Strategies Add Value

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198289883
eISBN:
9780191718205
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828988X.003.0011
Subject:
Economics and Finance, Microeconomics

Case studies and statistical evidence are used in order to show that many companies are successful in building sustainable competitive advantage using their distinctive capabilities. However, ... More


The Firm

John Kay

in Foundations of Corporate Success: How Business Strategies Add Value

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198289883
eISBN:
9780191718205
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828988X.003.0019
Subject:
Economics and Finance, Microeconomics

Following the understanding of the market, the strategic audit focuses on the firm itself. Using the examples of British Airways and Benetton, this chapter illustrates how a deep understanding of the ... More


Co‐Operation and Co‐Ordination

John Kay

in Foundations of Corporate Success: How Business Strategies Add Value

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198289883
eISBN:
9780191718205
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828988X.003.0003
Subject:
Economics and Finance, Microeconomics

A firm is viewed as a set of relationships among its stakeholders and between itself and other firms. Game theory is used as a stylized way of discussing issues of cooperation through the ‘Prisoner's ... More


Markets

John Kay

in Foundations of Corporate Success: How Business Strategies Add Value

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198289883
eISBN:
9780191718205
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828988X.003.0009
Subject:
Economics and Finance, Microeconomics

For firms to turn their distinctive capabilities to competitive advantage, they must choose the appropriate markets in terms of both product and geographic dimensions. The choice of markets must make ... More


Appropriability

John Kay

in Foundations of Corporate Success: How Business Strategies Add Value

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198289883
eISBN:
9780191718205
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828988X.003.0012
Subject:
Economics and Finance, Microeconomics

If a competitive advantage is to form the basis of corporate success, it must also be appropriable. Appropriability is the capacity of the firm to retain the added value it creates for its own ... More


Firms and Industries

John Kay

in The Business of Economics

Published in print:
1996
Published Online:
November 2003
ISBN:
9780198292227
eISBN:
9780191596520
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292228.003.0020
Subject:
Economics and Finance, Microeconomics

This final chapter begins with surveys of two industries – once hugely successful, recently in serious decline – the Lloyd's insurance market and the British horse racing industry. It continues with ... More


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