ABSTRACT
This chapter assesses the chief findings of the study, i.e. whether economic theories of the firm and of the market supply conceptual foundations on which strategy theory may rely to describe and predict its phenomena of inquiry, and what the study has achieved, i.e. what the study has contributed to existing knowledge. It attempts to answer three interrelated questions: do the economic theories provide theoretical foundations for strategic management theory to explain and predict strategic phenomena at firm and market levels of analyses, and which theory offers the best foundational service for strategic theorising and research. Neoclassical economic analysis of the firm and of the market has little, if anything substantive, to offer for furthering strategic thinking and research. The chapter exhibits that there are surprisingly large overlaps between economics and strategic modes of thought in explaining and predicting strategic phenomena.
