Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

BSchools and Their Business Models

BSchools and Their Business Models In 1937 Coase explored the ‘nature of the firm’ and concluded economists cannot explain why firms exist, why their boundaries are where they are, why their internal arrangements are as they are, or why their performance is so varied. Without a viable theory of the firm we educators have no sound basis for teaching managing them. Economists have not yet answered Coase’s questions and our discipline seems to ignore the implications. More precisely we have no theories of the firm that can explain profit, yet surely our students are headed into managing profit-seeking? If we follow Knight’s intuition and introduce uncertainty we create great difficulties for those managing business schools, as Simon observed in his 1967 paper on designing them (Simon, Journal of Management Studies, 4(1): 1–16, 1967). This essay explores the implications for business schools of seeing a firm as a local language that indicates what must be attended to and how that should be treated if value and profit is to be created. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Humanistic Management Journal Springer Journals

BSchools and Their Business Models

Humanistic Management Journal , Volume 1 (2) – Jan 17, 2017

Loading next page...
 
/lp/springer-journals/bschools-and-their-business-models-ZnY33Za1Pi
Publisher
Springer Journals
Copyright
Copyright © 2017 by The Author(s)
Subject
Philosophy; Ethics; Quality of Life Research
ISSN
2366-603X
eISSN
2366-6048
DOI
10.1007/s41463-016-0016-0
Publisher site
See Article on Publisher Site

Abstract

In 1937 Coase explored the ‘nature of the firm’ and concluded economists cannot explain why firms exist, why their boundaries are where they are, why their internal arrangements are as they are, or why their performance is so varied. Without a viable theory of the firm we educators have no sound basis for teaching managing them. Economists have not yet answered Coase’s questions and our discipline seems to ignore the implications. More precisely we have no theories of the firm that can explain profit, yet surely our students are headed into managing profit-seeking? If we follow Knight’s intuition and introduce uncertainty we create great difficulties for those managing business schools, as Simon observed in his 1967 paper on designing them (Simon, Journal of Management Studies, 4(1): 1–16, 1967). This essay explores the implications for business schools of seeing a firm as a local language that indicates what must be attended to and how that should be treated if value and profit is to be created.

Journal

Humanistic Management JournalSpringer Journals

Published: Jan 17, 2017

References