A General Theory of Competition: Resources, Competences, Productivity, Economic Growth (Marketing for a New Century)

Book Description

“Hunt convincingly demonstrates that competition is not about dividing up limited resources but about creating more resources and thus competition is pro-society. This truly interdisciplinary book successfully develops a general theory of competition which is rich in explanatory breadth and depth. Consequently, executives and entrepreneuers, management consultants, public makers, and scholars and students in economics, law, political science, and business should read and study this book.” —Robert F. Lusch, University of Oklahoma This book develops a new theory of competition. This theory – labeled “resource-advantage theory” – stems from no single research tradition, but draws on several different traditions in economics, management, marketing, and sociology. In this ground-breaking volume, Shelby Hunt articulates R-A theory, uses the theory to explain and predict economic phenomena, and shows how (and why) it explains and predicts such phenomena.

Customer Reviews:

Hunt draws thory closer to real world.......2001-02-01

Shelby Hunt (2000) has produced an important work in the much deserved area of competition through his book, "A General Theory of Competition: Resources, Competences, Productivity, Economic Growth". The book addresses key issues in the modern analysis of industries and firms and considers major questions concerning industrial competition, organization and policy. It is important and compelling reading. The "general" theory is thus an "evolutionary, process theory of competition" that is evolving itself, a "work in progress", and is distinguished from the set of equilibrium conditions of perfect competition, which is a special case of this "general theory". Hunt broadens the concept of resources (traditionally land, labor, and capital) to include other "resources": financial, legal, human, organizational, informational, and relational, thus producing his "Resource Advantage" theory to explain what other theories of competition (in his view) explain badly or not at all, including differential financial performance among firms, growth, antitrust, and technological progress. Hunt provides a very useful and detailed critique of many theories of competition; citations and bibliography (600-plus items) are extensive. The book develops the structure, foundations and implications of Resource Advantage (R-A) theory. The theory is general in nature with assumptions that are closer to real world and is interdisciplinary in nature. Theory draws from evolutionary economics the conceptualization of competition as dis-equilibrium; from Austrian economics the conceptualization of competition as a process of discovery of dispersed knowledge; from industrial organization economics the emphasis on positioning in a market; from resource perspective the stress on heterogeneous resources and differential efficiencies of firms and from economic sociology the idea that social institutions may confer distinct advantages on one group competing with other. These conceptualizations are used to study comparative systems and economic growth and then Hunt demonstrates the difference in conclusions reached from R-A theory and mainstream economics.

The first four chapters of book review much of achievements of pre - 1970 industrial economics and are written in the form of a literature survey there by form excellent background reading. The book starts with the expression "assume competition" used commonly in economics, which Hunt asserts actually means "assume perfect competition". Hunt further states that the concept of perfect competition is utterly unrealistic as it assumes full knowledge/information, perfect mobility, homogenous demand, and homogenous and passive firms. In these chapters Hunt has placed special emphasis on the contributions of Clark's (1961) differential advantage theory, Chamberlin's (1933) heterogeneous demand theory, and Edith Penrose's (1959) resource based tradition. He further explains that Clark, Chamberlin and Penrose assume competition to be a dynamic process, involving heterogeneous firms where as Robinson and others build industrial economics on the concept of equilibrium. And the concepts build on equilibrium are unable to consider the complexities of real world, which arise due to dynamism and heterogeneity in firms.

Chapter five discusses the fundamental postulates of R-A theory. The chapter is wriiten in an interesting manner and gives an understanding of epistemology of R-A theory and provides an understanding of its difference from the foundational propositions of neoclassical (perfect competition) theory of competition. The table 5.1 (p 106) gives the premises of R-A theory about demand, consumer information, human motivation, firm's objective, firm's information, firm's resources, characteristic of resources, role of management and competitive dynamics and compares them with the premises of perfect competition. In R-A theory variety and disequilibrium are central, no two firms are alike in knowledge, capabilities and other resources. A firm's portfolio of resources can lead to a particular comparative advantage, creating opportunities for higher profits.

Chapter six to nine are full of illustrations which make them interesting to read and Hunt argues the superior explanatory and predictive power of R-A theory in these chapters. Chapter six describes competition as a process and shows how it leads to innovation and organization learning. The central concept of the chapter is that resources are the most important assets of the firms. A firm's portfolio of resources can mean "comparative advantage in resources" leading to production at higher profits. The life span and sustainability of competitive advantage in resources are dependent on internal and external factors of firm and thus make innovation and organization learning endogenous to R-A theory. Chapter seven explains the concepts of productivity, efficiency and effectiveness in context of R-A theory and compares them with neoclassical theory. The chapter also gives an account of the debate of socialistic and economic view on efficiency and productivity (table 7.1, p 168) and gives an account of the superiority of R-A theory in dealing with these issues. R-A theory explains the firms drive for superior productivity because the evolutionary process of R-A competition motivates efficiency and effectiveness enhancing competition, the results of competition are in terms of financial performance (superior, parity, inferior) and market place positions (competitive advantage, disadvantage and parity) and rewards flow to firms that successfully create new resources there by motivating the creation of productivity enhancing, tangible, intangible and complex resources. Chapter eight and nine discuss economic growth in context of R-A theory and neoclassical theory. The neoclassical theory models output (Net National Product) as function of technology, capital and labor and results in technological progress as exogenous to model, growth as economic system-neutral and institution neutral, K/L ratio dominating technological progress and investment driving the growth. In R-A theory output (quantity and attributes of firm's market offerings) as function of financial resources, physical resources, legal resources, human resources, informational resources, relational resources and organizational resources. Thus R-A theory predicts technological progress dominates K/L ratio, economic growth precedes investment and is driven by efficiency enhancing and effectiveness enhancing forms of innovation, technological progress as endogenous and growth dependent on systems and institutions. Chapter nine extends the discussion on endogenous growth models and gives historical and empirical evidence of dependence of growth on institutions. Chapter ten provides the summary of R-A theory and its implications to policy makers. A list of contributions of R-A theory to present stream of literature is drawn on page 258-259.

Overall, the book is full of insights and provides an understanding of the process of competition. The book is recommended for the scholars in strategy, economics and marketing as it gives an understanding of competition in a real world perspective.

Book Description

The death penalty is one of the most hotly contested issues in America today. Evidence continues to mount that many innocent people have been executed or are currently living on death row, and that minority groups and the poor suffer from a shoddy public defense system and discriminatory application of capital charges. Meanwhile, the myth of deterrence has been revealed to be false, and an increasing number of Americans are beginning to question their support for capital punishment.

Legal Lynching offers a succinct, accessible introduction to the debate over the death penalty's history and future, exposing a chilling frequency of legal error, systemic racial and economic discrimination, and pervasive government misconduct. This is an essential book for readers across the political spectrum who wish to cut through the common myths and assumptions about the efficacy and morality of state-sanctioned killing.

Customer Reviews:

Legal Vengeance .......2005-03-14

I bought this book with a somewhat self serving hope that the senior Jackson's very entertaining oratory style would be peppered through the text. Regardless of whether I agree or disagree with him, I have always found his public speaking to be entertaining and far livelier then most politicians or activists. With this being said I was disappointed to find out that Jesse Sr. really only was present in the forward and those few pages were very restrained. Not one three subject list, not a rhyme to be found, no fire and brimstone, just a smooth and calm forward to a book that explains a thought out position on capital punishment. This calm tone was held through the book, even in areas that most people start to get a bit excited about, religion, racism etc, the authors kept a level course. Of course to be taken seriously they had to, plus there is the celebrity factor of Jesse Sr. that probably hurts as much as it helps in making the book credible.

So now to the meat of the book. The authors, and I am assuming it was 90% the work of the professional author that was hired to help, give the reader a brief history of the death penalty in America and then a chapter each on the main reasons that the authors feel the death penalty needs to be eliminated. Again to be fair to the authors the review of the reasons, from bad legal representation to racism and the high rate of conviction reversals to religious questions were all done in a very even handed and one could almost say dispassionate way. I am sure that they felt to have a creditable book the needed to keep a level head and thus have created a book that touches on an excitable topic, but leaves the rhetoric at the door. The authors use a number of examples from the past 25 years, many of which a reader with an interest in the topic would have heard about in the media. The effect is to make the book relevant to the current day and not a historical review of justice in the wild west.

I think the biggest complaint I would have is that the book was not overly deep or presented in such way to give the reader more of the pro capital punishment side. The authors could have put in about 10% more effort on each chapter to have really provided a deep and meaningful book on the subject. By skimming some of the topics it left me feeling I was not getting the full story. And at just a touch over 150 pages of real text they had the room to be a bit more verbose. As to explaining both sides, if you are really going to present a book on the elimination of the death penalty then you are hoping to speak to the people on the fence and to do so I think an honest and well received book would try and cover more of what the pro death penalty people really are after, an eye for an eye. The authors could have touched a bit more on these areas and it would have made the book and argument stronger. Overall I enjoyed the book, it was easy to read, well written and level headed, it just was not too deep.

A guidebook for future generations.......2002-05-28

Anybody with any viewpoint whatsoever on the subject of the death penalty will want, and need, to review the hard anecdotes that are interspersed within this brief but wide-ranging overview. For those of you who oppose the death penalty on moral grounds, you will fine augmentation for the foundations of your feelings. For those who aren't sure but who are afraid that innocent people might be executed under an imperfect system, the authors provide you with frightening evidence that you're right. And for those looking toward a legislative reconsideration of the entire subject, the appendix is invaluable.

Kudos to the editors.......2001-12-01

This book is outstanding in its analysis of this important issue. Particularly insightful is the work of editors (ghost writers?) Denis Gaynor and John McFarlane. Mssrs. Gaynor and McFarlane outline in glorious, living detail the horrors of a death penalty culture. Highly recommended.

Two to three thumbs up!

Book Description

You can earn hundreds, even thousands of dollars running your own Internet auctions. But there's more to the Internet auction world than meets the eye: you need to know which secrets to take advantage of and what scams to avoid. Through an entertaining collection of stories-his own and those of others-Michael Weber demystifies Internet auctions by revealing the empowering techniques at the core of all successful Internet commerce.Confessions of an Internet Auction Junkie is the first authoritative, definitive book to bridge the gap by placing these topics under a single cover! If you'd like to earn a few hundred (or thousand!) extra dollars cleaning out your closet, this book is a must-read! Confessions is a multimedia experience; you'll move back and forth seamlessly from the book, to the CD-ROM, to your auctions on the Internet. ItemID: 0761530851

Customer Reviews:

Outdated and he's making money on old info.......2002-12-08

I was really excited about this book and was totally dissapointed. Much of the book is outdated on loading pics, etc-the Internet moves and changes at the speed of light. You can learn just as much on eBay's help (free). He's making money off eBay-by selling information that is free-that's the whole concept of the book. Don't sell a product unless it's information. No cost to you - it's basically how to sell/scam "information poor" folks. Do your homework on the Internet and save your money.

Easy, Fun Auctioning Know-How.......2001-12-11

I just started the book and so far it's great! The book is short, fast paced and had me involved from the get-go. It doesn't seem to leave out much about the auctioning process as it covers every aspect of auctioning for the absolute beginner to the advanced practitioner who outgrows or supplements their auctions by spinning-off into their own cyber-store. Amazing that this author can fit all this information in such a small space but, owing to his clean, crisp writing style, the material is presented in such a logical structure that what he writes is almost intuitive as your mind races forward and arrives at his conclusions seemingly before he does. He makes auctioning childishly simple. His use of exercises and the help of the enclosed CD had me building my auctioning empire from the first chapter.
The only misgivings I have concern the CD. First, a couple of the Internet links have changed - which is expected from any list of links that are more than a day old. A search engine ferrited out the needed sites. However, other sites simply no longer existed as the companies merged with others. Secondly, when I hit a link to a site I was transported to the site via the CD's enclosed browser. The problem is that the CD browser divides the screen into three equal vertical strips. The intended web site occupied only the middle strip. The left and right portions of the screen had menus displayed on them. The web site, reduced to a little sliver, was simply too awkward to work with and the URL of the site couldn't be found anywhere. Again I had to use the search engine to locate the web sites so that I could visit them in their full, un-enclosed beauty, using the Netscape or Explorer browsers.

These minor glitches weren't enough to distract me for long. I highly recommend this enjoyable book written in a conversational style. It's educational. It's fun. It's probably tax deductible.

confessions of internet junkie.......2001-10-17

I love this book and I am still reading it. I have learned alot from it. The only problem is I am very new to conputers and ebay so a lot of the terms I did not undestand. Since it assumes the reader knows what a url is or a pim or where the clipboard is
, But I was able to get help from a friend . The cd was great I now can put up a great html auction and when I emailed the author he was kind enough to reply . I am not sorry i bought this book and will refer to it often.

An informative book written by a great teacher!.......2001-09-18

Michael Weber is an effective teacher who makes the reader feel like they've known him for years. Rather than speaking down to his audience, he graciously shares his own experiences good and bad. Many technologically advanced persons lack the ability to teach. Michael Weber possesses both outstanding qualities.
This is a book that will not disappoint you!

Very helpful!.......2001-07-19

I have sold on ebay for over a year now. I really thought this book was very interesting. I started reading it and just could not put it down until I read the whole thing. I picked up lots of helpful information. I am spreading the word.

Average customer rating:

How to sell appliances at retail
Patrick C Monaghan
Manufacturer: Fairchild Publications
ProductGroup: Book
Binding: Unknown Binding

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How to Sell at Retail
W. W. Charters
Manufacturer: Kessinger Publishing
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books

Book Description

1922. This is a book on salesmanship that tells, not how successful selling should be done, but how it is done. Based on careful analysis of the technique and selling experiences of three hundred of the most efficient salesmen in a large American city, it gives only the proven and practical ideas that have actually demonstrated their effectiveness.

How to Sell at Retail: Tv, Appliances and Home Improvements

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How to Sell at Retail: Tv, Appliances and Home Improvements
Patrick C. Monaghan
Manufacturer: Fairchild Pubns
ProductGroup: Book
Binding: Textbook Binding
ASIN: 0870050311

How to sell at retail: TV, appliances, and home improvements; instore [and] outside

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How to sell at retail: TV, appliances, and home improvements; instore [and] outside
Patrick C Monaghan
Manufacturer: Fairchild Publications
ProductGroup: Book
Binding: Unknown Binding

General | Business & Investing | Subjects | Books

How to sell domestics & linens;: A guide for retail salespeople

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How to sell domestics & linens;: A guide for retail salespeople
Albert R Levine
Manufacturer: Fairchild Publications
ProductGroup: Book
Binding: Unknown Binding
ASIN: B0007DPX70

How to Sell Pet Accessories.(Brief Article)(Statistical Data Included) : An article from: Do-It-Yourself Retailing

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How to Sell Pet Accessories.(Brief Article)(Statistical Data Included) : An article from: Do-It-Yourself Retailing

Manufacturer: National Retail Hardware Association
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

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Home & Garden | Subjects | e-Docs | Formats | Books

Book Description

This digital document is an article from Do-It-Yourself Retailing, published by National Retail Hardware Association on November 1, 1999. The length of the article is 877 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: How to Sell Pet Accessories.(Brief Article)(Statistical Data Included)
Publication: Do-It-Yourself Retailing (Magazine/Journal)
Date: November 1, 1999
Publisher: National Retail Hardware Association
Volume: 177 Issue: 5 Page: 113

Article Type: Brief Article, Statistical Data Included

Distributed by Thomson Gale

How to Sell pet food.(Brief Article)(Statistical Data Included): An article from: Do-It-Yourself Retailing

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How to Sell pet food.(Brief Article)(Statistical Data Included): An article from: Do-It-Yourself Retailing

Manufacturer: National Retail Hardware Association
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

General | Home & Garden | Subjects | Books

Home & Garden | Subjects | e-Docs | Formats | Books

Book Description

This digital document is an article from Do-It-Yourself Retailing, published by National Retail Hardware Association on November 1, 1999. The length of the article is 405 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: How to Sell pet food.(Brief Article)(Statistical Data Included)
Publication: Do-It-Yourself Retailing (Magazine/Journal)
Date: November 1, 1999
Publisher: National Retail Hardware Association
Volume: 177 Issue: 5 Page: 115

Article Type: Brief Article, Statistical Data Included

Distributed by Thomson Gale

How to sell Pet Products.(Brief Article)(Statistical Data Included): An article from: Do-It-Yourself Retailing

Average customer rating:

How to sell Pet Products.(Brief Article)(Statistical Data Included): An article from: Do-It-Yourself Retailing

Manufacturer: National Retail Hardware Association
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

General | Home & Garden | Subjects | Books

Home & Garden | Subjects | e-Docs | Formats | Books

Book Description

This digital document is an article from Do-It-Yourself Retailing, published by National Retail Hardware Association on November 1, 1999. The length of the article is 2836 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: How to sell Pet Products.(Brief Article)(Statistical Data Included)
Publication: Do-It-Yourself Retailing (Magazine/Journal)
Date: November 1, 1999
Publisher: National Retail Hardware Association
Volume: 177 Issue: 5 Page: 113

Article Type: Brief Article, Statistical Data Included

Distributed by Thomson Gale

How to Sell.: An article from: Do-It-Yourself Retailing

Average customer rating:

How to Sell.: An article from: Do-It-Yourself Retailing

Manufacturer: National Retail Hardware Association
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

Management | Management & Leadership | Business & Investing | Subjects | Books

Book Description

This digital document is an article from Do-It-Yourself Retailing, published by National Retail Hardware Association on March 1, 2000. The length of the article is 2953 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: How to Sell.
Publication: Do-It-Yourself Retailing (Magazine/Journal)
Date: March 1, 2000
Publisher: National Retail Hardware Association
Volume: 178 Issue: 3 Page: 67

Distributed by Thomson Gale

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