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A systems perspective on markets: Toward a research agenda
Shidler College of Business, University of Hawai'i at Manoa, Honolulu, USA.
Karlstad University, Faculty of Arts and Social Sciences (starting 2013), Service Research Center (from 2013).ORCID iD: 0000-0002-2062-0931
University of Liverpool Management School, Liverpool, UK.
Karlstad University, Faculty of Economic Sciences, Communication and IT, Service Research Center.ORCID iD: 0000-0003-2705-0836
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2017 (English)In: Journal of Business Research, ISSN 0148-2963, E-ISSN 1873-7978, Vol. 79, p. 260-268Article in journal (Refereed) Published
Abstract [en]

This paper addresses the implications of an emerging, increasingly important way of thinking about markets: systems thinking. A market is one of the most founational abstractions in marketing and business research; yet, it often receives too little attention. As a result, the taken-for-granted assumptions about markets spur from over-simplified conceptualizations of neoclassical economics that depict markets as static and mechanistic. Systems thinking represents a major change in perspective that involves transcending this mechanistic worldview and thinking instead in terms of wholes, relationships, processes, and patterns. We argue that building a theory of markets based on systems thinking, would enable scholars to develop more realistic models that correspond with fast-changing business environment and therefore, increase both the rigor and relevance of future research. To further this aim, we identify the main implications of systems thinking and formulate them into a research agenda to further the systemic understanding of markets. (C) 2017 The Authors. Published by Elsevier Inc.

Place, publisher, year, edition, pages
New York: Elsevier, 2017. Vol. 79, p. 260-268
Keywords [en]
Markets, Systems thinking, Marketing, Complex systems, Research agenda
National Category
Business Administration
Research subject
Business Administration
Identifiers
URN: urn:nbn:se:kau:diva-65719DOI: 10.1016/j.jbusres.2017.03.011ISI: 000406983600025OAI: oai:DiVA.org:kau-65719DiVA, id: diva2:1175668
Available from: 2018-01-18 Created: 2018-01-18 Last updated: 2018-06-08Bibliographically approved

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Koskela-Huotari, KaisaEdvardsson, Bo

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