This book is a must-read for anyone interested in understanding how different countries develop unique business systems and how these systems shape the capabilities of firms within various industries. Richard Whitley's integration of institutionalist approaches with the theory of the firm provides a comprehensive framework for analyzing the diversity and integration seen in today's global economy. Through insightful analysis and empirical evidence, Whitley explores the factors that lead to the establishment and reproduction of distinctive business systems, as well as how these systems impact the development of organizational capabilities. Whether you're a student, an entrepreneur, or a business professional, this book will broaden your understanding of the complex dynamics between institutions, firms, and markets in different societies.

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Twenty-first century capitalism has been marked by an increasing international economic independence, and considerable differences between dominant economic systems of coordination and control. In this context, national competition and coordination within industries has increased, but the governance of leading firms, and the kinds of competences they develop, remain quite diverse. This book shows how different kinds of firms become established and develop different capabilities in different societies, and as a result are effective in particular kinds of industries and markets.By integrating institutionalist approaches to organizations with the capabilities theory of the firm, Richard Whitley suggests how we can understand this combination of diversity and integration by developing the comparative business systems framework in three major ways. First, by identifying the particular circumstances in which distinctive business systems and innovation systems become nationally established and reproduced, as well as how changing endogenous and exogenous pressures have affected the major kinds of business systems that developed in many OECD states during the postwar period. Second, by showing how variations in authority sharing with employees and business partners and in the provision of organizational careers lead institutional regimes to affect the nature of organizational capabilities that dominant firms develop and enable them to deal with different kinds of risks and opportunities in particular technologies and markets. Third, by identifying the circumstancesin which multinational firms are likely to develop distinctive transnational organizational capabilities through such authority sharing and careers, and so become different kinds of companies from their more domestically focused competitors. In many, if not most, cases of cross national managerial coordination, these conditions rarely exist, and so the extent to which multinational firms do indeed constitute distinct organizational forms and strategic actors is much less than is sometimes claimed.

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