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Enterprise and CompetitivenessA Systems View of International Business$
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Mark Casson

Print publication date: 1995

Print ISBN-13: 9780198289579

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198289579.001.0001

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Summary and Conclusions

Summary and Conclusions

(p.204) 9 Summary and Conclusions
Enterprise and Competitiveness

Mark Casson

Oxford University Press

The concluding chapter of the book argues that adopting a systems view in analysing production is helpful in understanding the new division of labor, and that identifying the physical aspects, particularly the spatial aspects, may be analysed to the firm's advantage. It also looks at differentiating high-level entrepreneurship from low-level entrepreneurship, and other such issues regarding entrepreneurship and the processes and behaviors of agencies in production. Most importantly, it argues that the systems view has enabled us to view the importance of social mechanisms of co-ordination. Mutual trust among agencies is deemed essential in entrepreneurship and in international business because, as in joint ventures, it does not only minimize risks but it also lowers transaction costs for firms.

Keywords:   trust, production, division of labour, entrepreneurship, co-ordination, joint ventures

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