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Revisiting the Emergence of the Modern Business Enterprise: Entrepreneurship and the Singer Global Distribution System
Author(s) -
Casson Mark,
Godley Andrew
Publication year - 2007
Publication title -
journal of management studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.398
H-Index - 184
eISSN - 1467-6486
pISSN - 0022-2380
DOI - 10.1111/j.1467-6486.2007.00723.x
Subject(s) - corporation , entrepreneurship , excellence , perspective (graphical) , management , operational excellence , point (geometry) , extension (predicate logic) , business , distribution (mathematics) , sociology , marketing , economics , epistemology , computer science , philosophy , mathematical analysis , mathematics , finance , geometry , artificial intelligence , programming language
This paper approaches the question of why entrepreneurial firms exist from a broad business historical perspective. It observes that the original development of the modern business enterprise was very strongly associated with entrepreneurial innovation rather than an extension of managerial routine. The widely‐used theory of the entrepreneur as a specialist in judgmental decision making is applied to the particular point in time when entrepreneurs had to develop novel organizational designs in what Chandler described as the prelude to the ‘managerial revolution’. The paper illustrates how the theory of entrepreneurship then best explains the rise of the modern corporation by focusing on the case study of vertical integration par excellence , Singer.