A Quote by Ronald Coase
A firm, therefore, consists of the system of relationships which comes into existence when the direction of resources is dependent on an entrepreneur... As a firm gets larger, there may be decreasing returns to the entrepreneur function, that is, the costs of organising additional transactions within the firm may rise.
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Outside the firm, price movements direct production, which is co-ordinated through a series of exchange transactions on the market. Within a firm, these market transactions are eliminated and in place of the complicated market structure with exchange transactions is substituted the entrepreneur-co-ordinator, who directs production.
May it be my privilege to have the happiness of establishing the commonwealth on a firm and secure basis and thus enjoy the reward which I desire, but only if I may be called the author of the best possible government; and bear with me the hope when I die that the foundations which I have laid for its future government, will stand firm and stable.
The Big Dream of any entrepreneur really has very little to do with the entrepreneur. If you truly love repairing automobiles, chances are, you'll be a lousy business owner. Likewise, if you are fascinated by debits and credits, the dream of building an accounting firm with you at the helm is probably best left unfulfilled.
Ronald Coase, in his classic 1937 paper on 'The Nature of the Firm,' was the first to bring the concept of transaction costs to bear on the study of firm and market organization.
Does a firm persuasion that a thing is so, make it so?" He replied, "All poets believe it does. And in ages of imagination, this firm persuasion removes mountains; but many are not capable of firm persuasion of anything.
Technology, under all circumstances, leads to planning; in its higher manifestations it may put the problems of planning beyond the reach of the industrial firm. Technological compulsions, and not ideology or political will, will require the firm to seek the help and protection of the state.
I have a firm faith in art, a firm confidence in its being a powerful stream which carries a man to a harbor, though he himself must do his bit too.
Of course my moods change, but the average is serenity. I have a firm faith in art, a firm confidence in its being a powerful stream which carries a man to a harbor, though he himself must do his bit too; at all events, I think it such a great blessing when a man has found his work that I cannot count myself among the unfortunate. I mean, I may be in certain relatively great difficulties, and there may be gloomy days in my life, but I shouldn't like to be counted among the unfortunate, nor would it be correct if I were.
I hope I come across as supportive and encouraging as well as being firm when I need to be firm.
My favorite Hodo Soy product is the firm tofu, a dense cryovac-ed block that isn't packed in water like most store-bought tofu and, therefore, doesn't need to be pressed before using (what a revelation!). It's nutty and mild with a firm - never spongy - consistency.
Roughly speaking, when you are dealing with business firms operating in a competitive system, you can assume that they're going to act rationally. Why? Because someone in a firm who buys things at $10 and sells them for $8.00 isn't going to last very long in that firm.
My father realised that for me to become a publisher in his firm would have been the end of the firm!
The superior man is firm in the right way and not merely firm.
The basketball great Kobe Bryant started his own venture-capital firm. LeBron James has rebranded himself as not just an athlete but also an investor and entrepreneur.
I'm a firm believer in research, but I'm also a firm believer in utilizing the instincts that are within your soul or in your body or in your stomach, wherever they reside.
I've witnessed first hand the impact the Benchmark team has had on new ventures, and I believe their commitment to the entrepreneur and dedication to building companies of lasting value really set the firm apart.
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