The Embedded Firm: Socio-economics of Industrial Networks Book

Orthodox theory has in the past reduced economic organization to a choice between either hierarchial relations within firms, or market relations between firms. However, firms are increasingly engaging in network forms of collaboration which are based on reciprocal patterns of communication and exchange. This collection offers a balanced appraisal of network forms of organization. It extends the research already carried out to assess the social and economic issues involved. Three settings are detailed: high technolgy, subcontracting and regional networks. Important areas as small firm behaviour, spatial impact, continuous innovation and policy decisions are discussed to show how these strategic patterns affect the business environment. These studies are placed in the context of the emergence of new industries, and the successful transformation of traditional industries. In analyzing the sustainability networks the collection shows how this process of change can be attributed to a specific form of "embeddedness" of economic activity within the wider societal context. The material presented here is taken from some of the leading scholars in the field.Read More