The resource-based approach to strategy has gradually become the dominant perspective in strategy (content) research, arguably because it combines realism with relative rigour. The present paper reviews the main themes of the contemporary version of the resource-based perspective (Wernerfelt,...

This Introduction briefly surveys transaction cost economics and explains its general relevance for business administration. A discussion of the impact of transaction cost economics on Scandinavian work in business administration is offered, after which the contributions to the present Special...

Summary Organizational routines and capabilities have become key constructs in fields such as organization studies, strategic management, international business, and technology management, as well as certain parts of economics. We discuss the historical origins of the notion of routines and...

This article discusses the concept of opportunism, familiar from Williamsonian transaction cost economics, and its role in business studies. Various arguments for the importance and centrality of the concept are presented. The transaction cost framework is compared to the Swedish network...

This conceptual paper joins network theories of firm interaction with the recent resource-based perspective in strategic management. This suggests a more satisfactory underpinning for the analysis of competitive advantage within the network approach. In other words, application of the...