- Copyright Page
- List of Figures
- List of Tables
- List of Contributors
- The Evolving Corporation: economy, law, and society
- The Dutch East India Company: the first corporate governance debacle
- English East India Company-State and The Modern Corporation: the google of its time?
- Socializing Capital: the rise of the industrial corporation
- From Berle to the Present: the shifting primacies of corporation theory
- Understanding the Roots of Shareholder Primacy: the meaning of agency theory, and the conditions of its contagion
- Corporate Purpose: legal interpretations and empirical evidence
- Corporate Law as a Solution to Team Production Problems
- Corporations as Sempiternal Legal Persons
- Finance Capitalism, the Financialized Corporation, and Countervailing Power
- The Neoliberal Corporation
- Theorizing the Corporation: liberal, confucian, and socialist perspectives
- Global Corporations and Global Value Chains: the disaggregation of corporations?
- Growth Strategies of the New Multinationals
- Corporations, Organization, and Human Action: an anthropological critique of agency theory
- The Japanese Corporation: community, purpose, and strategy
- Dynamic Capabilities, the Multinational Corporation, and Capture oF Co-created Value from Innovation
- The Theory Of Innovative Enterprise: foundations of economic analysis
- Corporations In The Clouds?: the transformation of the corporation in an era of disruptive innovations
- The Changing Nature of The Corporation and The Economic Theory of The Firm
- Corporate Responsibility and the Embedded Firm: a critical reappraisal
- The Greening of the Corporation
- Corporate Sustainability In A Fragile Planet
- Transcending The Corporation: social enterprise, cooperatives, and commons-based governance
- The Evolution of Corporate Form: from shareholders’ property to the corporation as commons
Abstract and Keywords
This chapter outlines the theory of innovative enterprise, showing how it provides a framework for explaining the growth and performance of the firm, and drawing out the methodological, ideological, and political implications of the theory. In combination with strategic control and financial commitment, key to the success of the corporation is organizational integration, which is a set of social relations that provides participants in a complex division of labor with the incentives to cooperate in contributing their skills and efforts toward the achievement of common goals. Organizational integration provides an essential social condition for an enterprise to engage in and make use of collective and cumulative, or organizational, learning. Through organizational integration, people in a hierarchical and functional division of labor work together to create value that would otherwise not exist.
William Lazonick, PhD, is an economist who studies innovation and competition in the global economy. Dr Lazonick’s research seeks to understand how, on the basis of innovative enterprise, a national economy can achieve stable and equitable economic growth. He is the originator of the theory of ‘innovative enterprise’. He also conducts cross-national comparative research on the social conditions that enable or proscribe innovative enterprise, focusing in particular on the economies of Britain, Japan, and China, as well as the United States. He received his Bachelor of Commerce degree from the University of Toronto, then attended the London School of Economics, where he was awarded an MSc in economics with distinction, and received his PhD from Harvard University.
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