What Is The Company, And Why Is It Important?
Introduction
Company – We argue that some issues in Management and Organizational Studies (MOS) are more critical than understanding the modern enterprise. “Corporate Governance” and “Corporate Responsibility” are buzzwords in business today and are becoming increasingly popular as objects of study. However, what “corporate” means and the contemporary (re)formation and meaning of corporations are rarely the focus of scholarly inquiry (for an exception, see Crouch, 2001, especially Chapter 3). Our intention here is to shed light on the concept of the “modern enterprise” as a timely contribution to transforming the way business practices are understood, taught and implemented.
What Is A Company?
In MOS, this question seems to have limited relevance. However, MOS is where much of the “management” takes place, and many organizational structures and processes reside. Of course, within MOS, corporations’ purpose, regulation, governance and accountability are explored, with various notions of corporations being more or less implicitly posited.
There also remains some awareness and understanding of debates about ‘the modern enterprise’, centred on issues such as ‘ownership and control’, ‘the decision-making revolution’ (Berle and Means, 2007 [1932]), ‘the discernible hand’ (Chandler, 2003) etc.
Financialization Of Joint-Stock Companies
The “financialization” of firms may soon add to such substantive understandings (Davis, 2011; Epstein, 2005; Fligstein, 1993). But to the best of our knowledge, this awareness has not led to developing a research program, a research stream in permanent working groups, or even a track within MOS conferences.
It is mainly dedicated to examining and investigating the legal form. Studying the company gently pushed aside for other details such as business history, law, economics, and political science.
The Company And The Imaginary Number
Our approach to answering this question assumes that its nature and meaning are being questioned and that various imaginaries have been constructed that make the corporate form meaningful, precise and consistent.
The modern social, economic and, in many cases, the political position of trading companies is undisputed. Millions of global companies dominate most developed and developing countries manufacturing, energy and service sectors.
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