Examines the implications for the economics of the firm of the development of total quality control and just-in-time management which are becoming increasingly important for intrafirm resource allocation. Shows the Alchian and Demsetz and transaction cost perspectives on the firm and work...

Examines the implications for the economics of the firm of the development of total quality control and just‐in‐time management which are becoming increasingly important for intrafirm resource allocation. Shows the Alchian and Demsetz and transaction cost perspectives on the firm and work...

Purpose – The purpose of this paper is to argue for the need to reconcile managerial and economic approaches of the firm. Strategic management seems to be the perfect playground for this. Design/methodology/approach – The paper shows many divergences between the economic and managerial...