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The interdependence imperative: business strategy, complementarities, and economic policy
Oxford Review of Economic Policy ( IF 2.1 ) Pub Date : 2021-03-09 , DOI: 10.1093/oxrep/grab010
Mu-Jeung Yang 1
Affiliation  

An enduring idea in economics and management sciences is that successful business strategies exploit complementarities across management practices within a firm. From this complementarity perspective, the success of business strategy requires utilizing a variety of interdependencies across management practices. Navigating large arrays of possible interdependencies implies that strategic decision-making is often conducted under high complexity and uncertainty. This paper provides an introduction to the conceptual foundations of complementarities in business strategy, and its implications for strategic decision-making and managerial learning. Against this backdrop, I outline issues of measurement and data collection for strategy practices, drawing on recent measurement efforts by academic researchers as well as national statistical agencies. The last part of the paper discusses how increased large-scale data collection on firm activity complementarities and strategy practices can inform a variety of policy areas, such as antitrust policy and merger review, industrial and innovation policy, tax policy, and public–private partnerships.

中文翻译:

相互依存的必要性:商业战略、互补性和经济政策

经济学和管理科学中一个经久不衰的理念是,成功的商业战略利用公司内部管理实践的互补性。从这种互补性的角度来看,商业战略的成功需要利用各种管理实践之间的相互依赖关系。驾驭大量可能的相互依赖关系意味着战略决策通常是在高度复杂和不确定的情况下进行的。本文介绍了商业战略互补性的概念基础,及其对战略决策和管理学习的影响。在此背景下,我概述了战略实践的衡量和数据收集问题,借鉴了学术研究人员和国家统计机构最近的衡量工作。
更新日期:2021-03-09
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