Archive for August, 2013

Microfoundations Conference in Copenhagen, June 13-15, 2014

| Nicolai Foss |

Since the arguably first use of the “microfoundations” terminology in the context of macro management research in a 2005 Strategic Organization essay by Teppo Felin and me, the “microfoundations project” has gained considerable attention. Most recently, the Academy of Management Perspectives has featured a symposium on the subject with contributions from Sid Winter, Henrich Greve, Sid Winter, Andrew van de Ven, Jay Barney and Teppo, and Siegwart Lindenberg and me.  One notable development is that positions have converged somewhat; notably, earlier outspoken critics, such as Winter, now see merit in the project. Another notable development is that the whole thing is moving from the admittedly preachy phase towards more of a “doing” phase.

An indication of not only the influence but also the  acceptance of the project is that the Strategic Management Society now sponsors a “special conference” (so-called) in Copenhagen (specifically, at the Copenhagen Business School) on the subject of “Microfoundations for Strategic Management Research: Embracing Individuals.” FB page here.  A full program should be up soon, but let me anticipate this a bit by noting that we have a fabulous line-up with keynotes by Richard Rumelt, one of our field’s most important thought-leaders; Europe’s perhaps most currently influential economist, Ernst Fehr; and sociology heavy-weight Ron Burt. In addition we will have a debate on microfoundations between Teppo Felin, Russ Coff, Michael Jacobides and Rodolphe Durand; a panel on foresight with Giovanni Gavetti, Sid Winter and Dan Lovallo, and much other juice stuff!  

Paper proposals (5-7 pages) are due no later than December 5. (Check the conference site for instructions in a week or two).  Hope to see you in Copenhagen next year!

17 August 2013 at 9:41 am 3 comments

AoM Miscellany

| Peter Klein |

This week’s Academy of Management conference was fun and interesting, if overwhelming (over 12,000 nerds graced the Disney World resort hotels with their presence). A few post-conference links, thoughts, etc.

  • Twitter was a big deal. Check out the #AOM2013 hashtag for the stream. There was even an officially sponsored Tweet Up. I enjoyed playing along (as @petergklein) but am not totally clear how such a tool is best used during a conference.
  • I really enjoyed a Saturday morning session on “Opportunities: The State of the Debate” with me, Sharon Alvarez, Jay Barney, Dimo Dimov, Mike Wright, Devereaux Jennings, and Roy Suddaby. I was the odd man out, giving my usual shtick about how the concept of “opportunities” should be eliminated altogether — perhaps a bit cheeky given the session title, but YOLO, right? (My slides are here, though they make less sense without the accompanying patter.) Jay Barney started the session by stating that all the panelists, except me, agree that opportunities should be the unit of analysis in entrepreneurship research but that opportunities should not (necessarily) be regarded as “discovered,” but also created. By the end of the session, it seemed that all but one panelist rejected the discovery concept altogether, and most grudgingly admitted that maybe we could talk about entrepreneurs creating products and services, rather than creating “opportunities.” Anyway, a good time was had by all.
  • There were lots of other interesting sessions, too many to mention. Some have already been described below. The session on “Myths and Realities of Capitalism” was particularly, well, controversial.
  • Here’s a report on a session (that I missed) on translating research results into practice by engaging the media (via Dave Ketchen).

14 August 2013 at 5:40 pm 2 comments

More AoM PDWs

| Peter Klein |

There are too many good AoM sessions to mention them all — there’s even a Tweet Up for social-media freaks (hey, where’s the Insta-Slam?) — but I’ll mention two more Professional Development Workshops of interest:

Myths and Realities of Capitalism: Micro and Macro Perspectives
Session #609, Sunday, Aug 11 2013 4:30PM – 7:30PM at WDW Dolphin Resort in Asia 3

Organizer: Rajshree Agarwal, U. of Maryland
Speaker: John Allison, Cato Institute
Speaker: Yaron Brook, Ayn Rand Institute
Speaker: Paul Green, Morning Star
Speaker: Jay B Barney, Eccles School, U. of Utah
Speaker: Doug Kirkpatrick, Morning Star Institute
Speaker: Peter G Klein, U. of Missouri
Speaker: Edwin A. Locke, U. of Maryland, College Park
Speaker: John Sullivan, Center for International Private Enterprise
Organizer: Hildy Teegen, U. of South Carolina
Speaker: Paul E. Tesluk, U. of Buffalo

The theme of the 2013 Academy of Management Meetings is based on a call into question of the efficacy and merits of capitalism—and the free enterprise system that it entails. However, all of the economic systems in the world today represent varying degrees of free enterprise and government intervention. This PDW addresses the call of examining micro and macro perspectives on some of the myths and realities of capitalism. A critical and informed examination of perhaps the most foundational underpinning of business and management —voluntary trade among producers based on the premise of human rights to life, liberty and pursuit of happiness—is urgently called for. The PDW brings together micro and macro scholars within the Academy, along with leading businessmen and spokespersons from policy institutes. The format of the PDW allows for an articulation of premises that guide both micro individual behavior and macro institutional factors that are required for value creation under a capitalist system, and a discussion of the alleged virtues and vices of capitalism. The workshop is designed in four parts and is structured to provide workshop participants with the opportunity to learn from experts and each other and to co-develop relevant implications for management faculty around the world.

Entrepreneurial Opportunity—The State of the Debate and The Linkages to Management
Session #258, Saturday, Aug 10 2013 10:00AM – 12:00PM at WDW Swan Resort in Mockingbird 1

Chair: Robert Joseph Wuebker, U. of Utah
Discussant: Roy R Suddaby, U. of Alberta
Presenter: Jay B Barney, Eccles School, U. of Utah
Participant: David Audretsch, Indiana U., Bloomington
Presenter: Dimo Dimov, U. of Bath
Presenter: Sharon Alvarez, The Ohio State U.
Presenter: Peter G Klein, U. of Missouri
Presenter: Mike Wright, Imperial College London
Presenter: P. Devereaux Jennings, U. of Alberta

For more than two decades, the field of entrepreneurship has struggled to converge on a definition of a core distinction in the field—entrepreneurial opportunity. The recent publication of a series of reflection papers in the Academy of Management—along with the published reactions, comments on the reactions, and meta-commentary—highlight both the importance of this dialogue to the field and illuminate the competing and mutually exclusive perspectives on (1) the nature of entrepreneurial opportunity and (2) the importance of the debate itself. This workshop offers a structured discussion about the status of entrepreneurial opportunity with the individuals who are at the “sharp end” of the debate, and framed by the journal editors that are directly involved in promoting, framing, and shaping it. We accomplish this through a panel format in which we curate representative positions on the question of entrepreneurial opportunity. Each panelist will reflect on the historical and theoretical roots of their position; note key assumptions and important priors; and elucidate the consequences of each position on the research and teaching program for the field. Following our panel, editors from Academy of Management Journal and Organization Science will offer their perspective and lead a Q&A session between panelists and participants.

5 August 2013 at 10:54 pm Leave a comment

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Our Recent Books

Nicolai J. Foss and Peter G. Klein, Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press, 2012).
Peter G. Klein and Micheal E. Sykuta, eds., The Elgar Companion to Transaction Cost Economics (Edward Elgar, 2010).
Peter G. Klein, The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute, 2010).
Richard N. Langlois, The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (Routledge, 2007).
Nicolai J. Foss, Strategy, Economic Organization, and the Knowledge Economy: The Coordination of Firms and Resources (Oxford University Press, 2005).
Raghu Garud, Arun Kumaraswamy, and Richard N. Langlois, eds., Managing in the Modular Age: Architectures, Networks and Organizations (Blackwell, 2003).
Nicolai J. Foss and Peter G. Klein, eds., Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Elgar, 2002).
Nicolai J. Foss and Volker Mahnke, eds., Competence, Governance, and Entrepreneurship: Advances in Economic Strategy Research (Oxford, 2000).
Nicolai J. Foss and Paul L. Robertson, eds., Resources, Technology, and Strategy: Explorations in the Resource-based Perspective (Routledge, 2000).