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The Business of Economics$
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John Kay

Print publication date: 1996

Print ISBN-13: 9780198292227

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198292228.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 25 November 2020

Contracts or Relationships

Contracts or Relationships

(p.89) 12 Contracts or Relationships
The Business of Economics

John Kay (Contributor Webpage)

Oxford University Press

“Architecture” is introduced as the basis of competitive advantage for many companies. It refers to a network of relationship contracts within, or around, the firm. It can be sub‐divided into internal architecture (relationships with employees), external architecture (relationships with their suppliers and customers) and networks (relationships among a group of firms engaged in related activities). It adds value by helping to create organizational knowledge and routines that enable the company to respond flexibly to changing circumstances and allow easy exchanges of information. Such capabilities can only add value in the context of a long‐term relationship, which penalizes opportunistic behaviour.

Keywords:   architecture, competitive advantage, core competencies, distinctive capabilities, organisational knowledge, organisational routines, resources, strategy

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