Alfred Chandler and "capabilities" theories of strategy and management

Alfred D. Chandler's scholarship on the large industrial enterprise has deepened understanding of economic development, and helped establish the field of strategic management research. Chandler's monumental work emphasized the importance of organizational innovation, managerial acumen and business performance. A particular contribution was the support provided for a "capabilities" theory of the business enterprise. This article also looks at recent developments in industrial organization that are less well explained and appreciated in the Chandler framework. Copyright 2010 The Author 2010. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.