Opportunities and new business models: Transaction cost and property rights perspectives on entrepreneurship

Stieglitz, Nils; Foss, Nicolai J.

doi:10.1108/s0742-3322(2009)0000026005

Cited by 15 publications

(5 citation statements)

References 88 publications

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“…Even though employees play the key role in developing and pursuing business opportunities, rewarding them for costly search raises distinct challenges for compensation management. The firm could choose to simply reward employees for aggressively pursuing business ideas, but such behavior is not always desirable (Stieglitz and Foss 2009). Moreover, from the standpoint of an employee, investing effort into searching for a promising project is risky because the employee may be clueless about project selection.…”

Section: Capability Governancementioning

confidence: 99%

Organizational Economics of Capability and Heterogeneity

Argyres

Felin

Foss

et al. 2012

Organization Science

104

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F or decades, the literatures on firm capabilities and organizational economics have been at odds with each other, specifically relative to explaining organizational boundaries and heterogeneity. We briefly trace the history of the relationship between the capabilities literature and organizational economics, and we point to the dominance of a "capabilities first" logic in this relationship. We argue that capabilities considerations are inherently intertwined with questions about organizational boundaries and internal organization, and we use this point to respond to the prevalent capabilities first logic. We offer an integrative research agenda that focuses first on the governance of capabilities and then on the capability of governance.

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Section: Capability Governancementioning

confidence: 99%

Organizational Economics of Capability and Heterogeneity

Argyres

Felin

Foss

et al. 2012

Organization Science

104

View full text Add to dashboard Cite

show abstract

“…Like firm networks in Northeast-Central Italy, Southern California and other “new industrial districts” that achieved stability amidst mass job loss in the 1980s, makers draw on urban agglomerations. Cities offer many production assets external to the firm, including low-cost production equipment, specialized design knowledge, dedicated commercial real estate, and manufacturing advocacy institutions devoted to helping makers develop and sell products (Piore and Sabel, 1986; Scott, 1988b; Teece, 1986, Wolf-Powers et al, 2016). 1 Beyond the shared traits of small size and reliance on network resources, however, makers differ substantially from the small manufacturing firms featured in the literature on new industrial districts.…”

Section: From Making To Manufacturingmentioning

confidence: 99%

Manufacturing without the firm: Challenges for the maker movement in three U.S. cities

et al. 2017

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Participants in the U.S. maker movement generate market-worthy consumer goods from the bare bones of novel ideas and simple production equipment. For cities and policymakers, making thus represents the opportunity to develop new manufacturing industries and employment. For makers to transform themselves into large-volume producers, however, they must negotiate significant financing, production and distribution barriers without recourse to the capabilities of the large manufacturing firm. Drawing on 137 interviews with makers and maker-supporting organizations, we call attention to the challenges of “manufacturing without the firm,” as well as the extent to which the localized institutional ecosystems in which makers are embedded may help them circumvent these challenges. Our findings indicate that the maker movement's generative prospects rest on these firms' ability to negotiate problems of production and markets that have beset clusters of small firms for many decades.

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“…Even though employees play the key role in developing and pursuing business opportunities, rewarding them for costly search raises distinct challenges for compensation management. The firm could choose to simply reward employees for aggressively pursuing business ideas, but such behaviour is not always desirable (Stieglitz and Foss, 2009). Moreover, from the standpoint of an employee, investing effort into searching for a promising project is risky, because he may have no clue regarding project selection.…”

Section: Opportunity Recognition Knowledge and Firm Boundariesmentioning

confidence: 99%