This volume presents an epistemological argument for the essential function of mid-range theory in advancing management concepts that can be usefully applied by managers. Authors analyse two examples - modularity and dynamic capabilities.

This paper develops an integration of transactions costs theory and real options theory that leads to a more complete representation of the problem of economic organizing. By recognizing the opportunity costs associated with internalization of specific-use assets when flexible assets are also...

Product competition in a growing number of markets is undergoing a profound transformation. Some firms are now beginning to use new kinds of 'flexible designs' for products and organizations to pursue innovative product strategies that generate unprecedented levels of product variety and change....

This paper addresses modularity as a basis for organizing economic activity. We first define the key concepts of architecture and of modularity as a special form of architecture. We then suggest how modular systems of all types may exhibit several properties of fundamental importance to the...