But it means that on the issue of exchanges
between the firm and its environment, it
places primary emphasis on economic as
opposed to social or political exchanges.
Equally, it assumes rationality and views
organisational actors as rational beings
assessing choices and making decisions
which maximise their self-interests. These
points aside, it has been described as an
illuminating generalisable theory of the firm
(Mahoney and Pandian, 1992).