The emerging knowledge economy is prompting decisive changes in the organization of business firms. Corporate hierarchies flatten under the impact of ICT and the need to delegate decision rights. The boundaries of the firm shrink under the impact of outsourcing and viable relational contracting. However, we still know very little about the mechanics and manifestations of this process. Killian McCarthy, Maya Fiolet, and Wilfred Dolfsma s The Nature of the New Firm breaks new ground in our understanding of changing economic organization. It will appeal not only to theorists of the firm, but also to management scholars and sociologists interested in organization. Nicolai J. Foss, Copenhagen Business School, Denmark The Nature of the New Firm presents a number of studies on the blurring of boundaries within and between organizations and institutions. Globalization has created new ways of doing business, new institutions to oversee them, and has introduced a spectrum of new protagonists to the international arena. Scholars and practitioners have been challenged by the evolving environment to find new ways to interact and, in the process, many of the traditional boundaries that have existed within and between organizations and institutions have become increasingly blurred. This unique compendium sheds light on these and other topics on the question of change, both within and between organizations and institutions. The contributors have expertly combined the insights of some of the biggest names in the fields of economics, business and strategic management, both present and future and in doing so offer scholars a tailor-made, up-to-date study on the topic of economic change. This book will prove to be a compelling read for students, scholars and policymakers of international business, industrial organization and strategy.

This book by leadership and sustainability experts Giles Hutchins and Laura Storm provides an exciting and comprehensive framework for building regenerative life-affirming businesses. It offers a multitude of business cases, fascinating examples from nature's living systems, insights from the front-line pioneers and tools and techniques for leaders to succeed and thrive in the 21st century. Regenerative Leadership draws inspiration from pioneering thinking within biomimicry, circular economy, adult developmental psychology, anthropology, biophilia, sociology, complexity theory and next-stage leadership development. It connects the dots between these fields through a powerful framework that enables leadership to become regenerative: in harmony with life, building thriving, prosperous organizations amid transformational times. The book is a combination of theoretical frameworks, case studies, tools & practices: Everything the leader needs to be successful in the 21st century. Regenerative Leadership - what's it all about? While the future is uncertain, we clearly see an upward trend towards sustainable conscious business. And this is more than just a trend - we're witnessing a new kind of organization emerging. An organization which is able to rapidly sense and respond to the ever-changing business climate by innovating how and why it creates and delivers value, and the way it engages internally and externally with its ecosystem of employees, customers, suppliers, resources, investors, society and environment. This new kind of organization is the organization-as-living-system that is designed on the Logic of Life: life-affirming businesses that thrive from the inside out, by cultivating conditions conducive for life, internally and externally. These organizations nurture flourishing cultures while focusing on products and services that enhance society and the environment. Regenerative organizations will be tomorrow's success stories.

This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.

This book brings together classic writings on the economic nature and organization of firms, including works by Ronald Coase, Oliver Williamson, and Michael Jensen and William Meckling, as well as more recent contributions by Paul Milgrom, Bengt Holmstrom, John Roberts, Oliver Hart, Luigi Zingales, and others. Part I explores the general theme of the firm's nature and place in the market economy; Part II addresses the question of which transactions are integrated under a firm's roof and what limits the growth of firms; Part III examines employer-employee relations and the motivation of labor; and Part IV studies the firm's organization from the standpoint of financing and the relationship between owners and managers. The volume also includes a consolidated bibliography of sources cited by these authors and an introductory essay by the editors that surveys the new institutional economics of the firm and issues raised in the anthology.

Every few years a book changes the way people think about a field. In psychology there is Daniel Goleman's Emotional Intelligence. In science, James Gleick's Chaos. In economics and finance, Burton Malkiel's A Random Walk Down Wall Street. And in business there is now Surfing the Edge of Chaos by Richard T. Pascale, Mark Millemann, and Linda Gioja. Surfing the Edge of Chaos is a brilliant, powerful, and practical book about the parallels between business and nature -- two fields that feature nonstop battles between the forces of tradition and the forces of transformation. It offers a bold new way of thinking about and responding to the personal and strategic challenges everyone in business faces these days. Pascale, Millemann, and Gioja argue that because every business is a living system (not just as metaphor but in reality), the four cornerstone principles of the life sciences are just as true for organizations as they are for species. These principles are: Equilibrium is death. Innovation usually takes place on the edge of chaos. Self-organization and emergence occur naturally. Organizations can only be disturbed, not directed. Using intriguing, in-depth case studies (Sears Roebuck, Monsanto, Royal Dutch Shell, the U.S. Army, British Petroleum, Hewlett Packard, Sun Microsystems), Surfing the Edge of Chaos shows that in business, as in nature, there are no permanent winners. There are just companies and species that either react to change and evolve, or get left behind and become extinct. Some examples: Parallels between Yellowstone National Park and Sears show why equilibrium is a dangerous place in both nature and business. How Monsanto used a "strange attractor" to move to the edge of chaos to alter its identity and transform its culture. The unlikely story of how the U.S. Army embraced the ideas of self-organization and emergence. Why the misapplication of linear logic (reengineering a business or attempting to eradicate predators in nature) will inevitably fail. The stories in Surfing the Edge of Chaos are of pioneering efforts that show how the principles of living systems produce bottom-line impact and profound transformational change. What's really striking about them, though, is their reality. They are about success and failure, breakthroughs and dead-ends. In short, they are like the business you are in and the challenges you face.

How social media is changing the corporate world

This volume presents much newly published work by Hayek on methodology of economics, its development as a subject, its key thinkers and its important debates. It is published in corrected, revised and annotated form with a long introduction.