Heterogeneous Resources and the Financial Crisis: Implications of Strategic Management Theory

Rajshree Agarwal, Jay B. Barney, Nicolai J. Foss, Peter G. Klein

    Research output: Working paperResearch

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    Abstract

    Macroeconomic theory assumes that factors of production in the economy are homogeneous and fungible. As a result, it may be ill-suited for developing policy responses to the recent financial crisis. Theories of strategic management and organization,with their emphasis on heterogeneously distributed resources and capabilities,may be better positioned.Examples of where macroeconomic theory may lead policies astray, and where theories of strategic management may be more appropriate, are provided.
    Original languageEnglish
    Place of PublicationFrederiksberg
    PublisherCenter for Strategic Management and Globalization
    Number of pages24
    ISBN (Print)9788791815478
    Publication statusPublished - 2009
    SeriesSMG Working Paper
    Number6/2009

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