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Corporate strategy and the concept of market failure

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  • K. N. M. Dundas
  • P. R. Richardson

Abstract

Market failure concepts together with a corporate strategy taxonomy have important implications for the direction of growth of firms and their possible success. This paper discusses the relationship between these concepts and shows how specific types of market failure give rise to specific classes of firms. Arguments are presented why specific types of firms will be more or less successful than others. Empirical research by Rumelt is then cited which supports the themes developed in the paper.

Suggested Citation

  • K. N. M. Dundas & P. R. Richardson, 1980. "Corporate strategy and the concept of market failure," Strategic Management Journal, Wiley Blackwell, vol. 1(2), pages 177-188, April.
    • Handle: RePEc:bla:stratm:v:1:y:1980:i:2:p:177-188
    DOI: 10.1002/smj.4250010207
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    Cited by:

    1. Bowen, Harry P. & Baker, H. Kent & Powell, Gary E., 2015. "Globalization and diversification strategy: A managerial perspective," Scandinavian Journal of Management, Elsevier, vol. 31(1), pages 25-39.
    2. Dooms, E., 2005. "Control in multidivisional firms : Levels issues and internal differentiation," Other publications TiSEM bc7c1906-d54c-46e5-9d8e-1, Tilburg University, School of Economics and Management.
    3. Simon Lam & Joseph Yeung, 2010. "Staff localization and environmental uncertainty on firm performance in China," Asia Pacific Journal of Management, Springer, vol. 27(4), pages 677-695, December.
    4. Ding, John Y. & Caswell, Julie A., 1991. "A FRAMEWORK FOR ANALYSIS OF ALTERNATIVE RESTRUCTURING STRATEGIES EMPWYED BY LARGE FOOD MANUFACTURERS IN THE 1980s," Working Papers 116101, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    5. Schweizer, Roger & Lagerström, Katarina, 2020. "Understanding a demerger process: The divorce metaphor," Scandinavian Journal of Management, Elsevier, vol. 36(1).
    6. Ghialy Yap & Shrabani Saha & Nelson O Ndubisi & Saif S Alsowaidi & Ali S Saleh, 2023. "Can tourism market diversification mitigate the adverse effects of a blockade on tourism? Evidence from Qatar," Tourism Economics, , vol. 29(4), pages 880-905, June.
    7. Nicolai J. Foss, 2002. "The Strategy and Transaction Cost Nexus Past Debates, Central Questions, and Future Research Possibilities," DRUID Working Papers 02-04, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    8. Chi-Yo Huang & I-Ling Tung, 2020. "Strategies for Heterogeneous R&D Alliances of In Vitro Diagnostics Firms in Rapidly Catching-Up Economies," IJERPH, MDPI, vol. 17(10), pages 1-34, May.
    9. Sukrit Vinayavekhin & Robert Phaal, 2019. "Synchronization in Strategic Planning: A Roadmapping Framework," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 16(06), pages 1-21, October.

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