This case was prepared by Professor Torben Pedersen and Research Assistant Marcus Møller Larsen of the Copenhagen Business School. We thank Vestas Wind Systems A/S for its helpful collaboration in developing this case. The case is developed solely as a basis for classroom discussion rather than...

We briefly review the evolution in the analysis of the boundaries of the firm in global strategy. We explain how initial studies that argued that firm boundaries were driven by the minimization of transaction costs were later complemented by analyses that proposed that firm boundaries were...