The strategic management field has derived many of its theoretical concepts from other social science disciplines including economics, psychology, and sociology. Industrial organization (IO) economics and the structure-conduct-performance paradigm, in particular, provided many of the building blocks upon which strategy formulation was constructed (Barney, 1986; Harrigan, 1981; Porter, 1981). However, some researchers are now questioning this transfer of theory from IO economics to Strategic Management (Barney, 1986; Conner, 1991; Hirsch & Friedman, 1986; Rumelt, 1984).
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