Why do firms exist? The standard answer of economic theory is that firms offer protection against highest levels of uncertainty. The paper employs the competence-based theory of the firm as a branch of market process theory to develop answers that go beyond this traditional viewpoint by...

Is organizational culture a catalyst of competence development? This paper argues it is. The reason for this is that organizational culture fosters the process of learning and competence building and works as a glue between people and the organization they belong to. We employ a most recently...