Competition in the third millennium: Efficiency or effectiveness?

Research output: Contribution to journalArticle

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Abstract

Neoclassical economic wisdom holds that competition is, exclusively, an efficiency-seeking enterprise. For neoclassical theory, therefore, competition in the third millennium will be, can only be, efficiency seeking. In contrast, conventional business wisdom is that competition in the third millennium will primarily be an effectiveness-seeking enterprise. This article uses resource-advantage (R-A) theory to explore whether efficiency or effectiveness - or both - will drive competition in the third millennium.

Original languageEnglish
Pages (from-to)97-102
Number of pages6
JournalJournal of Business Research
Volume55
Issue number2
DOIs
StatePublished - Feb 2002

Keywords

  • Competition
  • Efficiency
  • Resource-advantage
  • Theory

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