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Managing Markets: Implications For The Make‐Buy Decision

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  • Richard Butler
  • M. G. Carney

Abstract

The concept of a managed market is developed and is seen as especially suitable for complex transactions as an alternative to internal hierarchical organization. It is argued that a number of augmenting processes, namely trust, routinization and mutual adjustment, usually associated with internal organization, can be used to good effect in a market. Hence the paper develops an approach to make‐buy decisions through a transactions cost model and exemplifies the augmenting processes in three case studies from branches of the engineering industry.

Suggested Citation

  • Richard Butler & M. G. Carney, 1983. "Managing Markets: Implications For The Make‐Buy Decision," Journal of Management Studies, Wiley Blackwell, vol. 20(2), pages 213-231, April.
    • Handle: RePEc:bla:jomstd:v:20:y:1983:i:2:p:213-231
    DOI: 10.1111/j.1467-6486.1983.tb00205.x
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    Cited by:

    1. Robert MacKenzie, 2002. "The Migration of Bureaucracy: Contracting and the Regulation of Labour in the Telecommunications Industry," Work, Employment & Society, British Sociological Association, vol. 16(4), pages 599-616, December.

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