1st Edition

Alternative Theories of the Firm

  • Available for pre-order. Item will ship after December 29, 2021
ISBN 9781032077857
December 29, 2021 Forthcoming by Routledge
424 Pages 10 B/W Illustrations

USD $180.00

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Book Description

The Theory of the Firm is commonly viewed as axiomatic by business school academicians. Considerations spanning organizational structures, their boundaries and roles, as well as business strategies all relate to the theory of the firm. The dominant theory of the firm poses that markets act perfectly to maximize the well-being of society when people act to maximize the personal utility of their individual purchases and firms act to maximize financial returns to their owners.

However, burgeoning evidence and discourse across the scientific and policy communities suggests that the economic, social, and environmental consequences of accepting and applying this theory in the organization of business and society threatens the survival of the human species, among countless others. This book provides the latest thinking on alternatives to the theory of the firm as cornerstone of managerial decision making. Authors explore and elucidate theories that help us understand a firm differently and suggest alternatives to the theory of the firm.

This book will be of value to researchers, academics, practitioners, and students interested in leadership, strategic management, and the intersection of corporate interests and the wellbeing of society.

Table of Contents

Introduction: Alternatives Theories of the Firm

Michael Pirson, Erica Steckler, and David Wasieleski 

1. From the Theory of the Firm to a Theory of the Community

David Korten 

2. A Note on Alternative ‘Theories of the Firm’

JC Spender 

3. A Rightholding Perspective on the Firm and Principled Governance: 10 memos 

Anna Grandori 

4. Theories of the Firm: The Logic of Multiple Criteria for Assessing Outcomes

Duane Windsor 

5. Qualitative growth: An alternative to Solely Quantitatively-Oriented Theories of firm Growth 

Dietmar Sternad and Gernot Mödritscher 

6. Firm Emergence in a Thick Market: The Boundaries and Management of Voluntary Organization

Susanne C. Bylund and Per L. Bylund 

7. What Are Corporations For?: Contemporary Capitalism, Authority, and a Communicative Theory of the Firm

Timothy Kuhn 

8. Toward A "We"-Mode Team Production Theory of The Firm: A Confucian Approach

Tae Wan Kim, Matt Caufield and Alan Strudler 

9. Strengthening Theory through Isolation and Subsequent Confrontation: The Case of French Convention Theory 

Abdul A. Rasheed, Richard L. Priem and Anne-Catherine Provost 

10. What It Means to be Truly Human in Organizations: Martin Buber’s Concept of I-Thou Relations 

Ulrich Leicht-Deobald, Lyndon E. Garrett and Lloyd E. Sandelands 

11. Business for Peace: A New Paradigm for the Theory of the Firm

Tilman Bauer 

12. Lessons from Indigenous Social Enterprises: An Alternative Management Model?

Mario Vázquez Maguirre 

13. Towards A Humanistic Theory of the Firm: An Analysis of the Mondragon-Based Participative Model

Ricardo Aguado, José Luis Retolaza and Josune Baniandrés 

14. How Human and Organizational Relationships can be Explained by Natural Science

Shann Turnbull 

15. Capitalism as a Continuum: A Bioinspired Narrative Framework to Assess Four Functions of the Firm

Elizabeth Castillo

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Michael Pirson is William Loschert Professor of Management, Global Sustainability, and Social Entrepreneurship at Fordham University and Research Fellow at Harvard University, USA. 

David M. Wasieleski is Albert P. Viragh Professor of Business Ethics in the Palumbo-Donahue School of Business and Executive Director of the Institute for Ethics in Business at Duquesne University, USA.

Erica L. Steckler is Associate Professor of Management and Co-Director of the Donahue Center for Business Ethics and Social Responsibility in the Manning School of Business at the University of Massachusetts Lowell..