Ghoshal's Ghost: Financialization and the End of Management Theory

Philosophy of Management, Vol. 14(1): pp. 29-45, 2015

37 Pages Posted: 10 May 2016 Last revised: 20 May 2016

See all articles by Gregory Daneke

Gregory Daneke

Arizona State University (ASU) - W.P. Carey School of Business

Alex Sager

Portland State University

Date Written: May 8, 2015

Abstract

Sumantra Ghoshal's condemnation of "bad management theories" that were "destroying good management practices" has not lost any of its salience, after a decade. Management theories anchored in agency theory (and neo-classical economics generally) continue to abet the financialization of society and undermine the functioning of business. An alternative approach (drawn from a more classic institutional, new ecological, and refocused ethical approaches) is reviewed.

Keywords: Agency Theory, Complexity Theory, Financialization, Institutional Economics, John Rawls, Thorstein Veblen

Suggested Citation

Daneke, Gregory and Sager, Alexander, Ghoshal's Ghost: Financialization and the End of Management Theory (May 8, 2015). Philosophy of Management, Vol. 14(1): pp. 29-45, 2015. Available at SSRN: https://ssrn.com/abstract=2777197

Gregory Daneke

Arizona State University (ASU) - W.P. Carey School of Business ( email )

Tempe, AZ 85287-3706
United States

Alexander Sager (Contact Author)

Portland State University ( email )

PO Box 751
Portland, OR 97207
United States

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