Why Firms Succeed
IN THIS SUMMARY
Whatever the criteria for success, everyone seems to point to the same companies, time and again, leading to the conclusion that the achievement of any company is measured by its ability to add value-to create an output that is worth more than the cost of the inputs it uses. Why Firms Succeed views the organization as a set of relationships among its various stakeholders and views the successful organization as one that creates a distinctive character in these relationships, while operating in an environment maximizing the value of this distinctiveness. This work is concerned with the nature of these relationships, the ways in which they achieve distinctiveness, and the ways in which effective companies select and manage their environment in the light of these capabilities.