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rethinking the firm

rethinking the firm. what’s the problem ?. Guardian - Atlantic 2013. mgt educ - Humanist Mgt , PRME, etc. stakeholder activism, Dodd-Frank, etc. management. governance. c apital. profit. firm. labor. social benefit.

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rethinking the firm

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  1. rethinking the firm

  2. what’s the problem ? Guardian - Atlantic 2013

  3. mgteduc - Humanist Mgt, PRME, etc. stakeholder activism, Dodd-Frank, etc. management governance capital profit firm labor social benefit

  4. Mayer, Colin. (2013). Firm Commitment: Why the Corporation is Failing Us and How to Restore Trust in It. Oxford: Oxford University Press. p.187

  5. 1904 1923 Fischel, Daniel R. (1982). The Corporate Governance Movement. Vanderbilt Law Review, 35(6), 1259-1292.

  6. so what is ‘the firm’ ? Keay, Andrew. (2011). The Corporate Objective. Cheltenham: Edward Elgar. p.38 Bottomley, Stephen. (2007). The Constitutional Corporation: Rethinking Corporate Governance. Aldershot: Ashgate.

  7. some ToF variants • bureaucratic, OT, systems theory • sociological, political, stakeholder • institutional, networked, legal • behavioral, psychological • evolutionary, org routines, organic • self-organizing, emergent • post Coasian - TCE, PAT, nexus, property rights, team production, ... • RBV, KBV, DCs ... value creation, profit: Knightian uncertainty & bounded rationality ? chaos or contingency ? what problem is being addressed ?

  8. new theory of the value-creating firm ? NO engagement with uncertainty/profit - NONE of these !! ‘the firm’ is just an idea about a real problem

  9. if Coase’s questions are the problem • meeting Knightian uncertainty with managerial judgment • constructing entrepreneurial opportunity • managerial rhetoric for harnessing others' judgment • ‘theory of the managed firm’ (TMF) as unique language new funding technological change expands opportunity space ecological issues opportunity ethical constraints government regulation competitive activity decreases opportunity space

  10. management research & education • reading the political-economic situation • immersion, entrepreneurial judgment, coup d'oeil • knowledge creation - data, meaning, practice • language construction • rhetorical practices for harnessing others • TMF as indexical discourse of collaborative value-creation

  11. Botticelli Judgment of Paris (1485)

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