Because internal organization experiences added bureaucratic costs, the firm is usefully thought as the organization of last resort: try markets, try hybrids (long term contractual relations into which security features have been crafted), and resort to firms when all else fails. (Oliver E. Williamson)

Because internal organization experiences added bureaucratic costs, the firm is usefully thought as the organization of last resort: try markets, try hybrids (long term contractual relations into which security features have been crafted), and resort to firms when all else fails.

Oliver E. Williamson

Related topics

firm last organization resort security term thought try relations contractual costs

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