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The Nature of the Firm Built to Last : an Explanation Based on the Generalized Virtual Economy

RAO Nian-hua XU Tai-cheng (ShangHai YaoHua Weighing System CO., LTD, Shanghai 200123, China)  
Following The Theory of the Firm based on New Institutional Economics , the firm is simpified to counterpoint of market and heterogeneity between the firm is blured out .So it is difficult to explain competition among enterprises and enterprise growth . On Strategic Management ,to the contrary, heterogeneity is seriously concerned and is illustrated key ellement to gain sustaining competition advantage ,but homogeneity between the firm is ingored .We ,from the new perspective of the Generalized Virtual Economiy, revisit successful companies and rethink the nature of the firm built to last, and conclude that managing resoure belonged to substance state embodies heterogeneity and managing psychology belonged to virtual state embodies homogeneity.
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