As shown in chapter 4, many of the assets and resources that a company will need to obtain to put its theory into practice are best left outside the firm and sourced through market relationships. But there are many types of market relationships, and a central question in pursuing a particular strategic experiment is which to pursue; for example, whether to purchase the inputs from the lowest-cost supplier or develop a relationship with a few favored ones. Answering that question is a perennial challenge, with wide ranging options that continue to unfold. As Friedrich Hayek commented, “[while] man has learned to use [the market] … , he is still very far from having learned to make the best use of it.” ...
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