Organizations and Markets: History and Development of the CCMO Course and the Field (1st of 4 CCMO documents)

29 Pages Posted: 21 Apr 1998  

Michael C. Jensen

SSRN; Harvard Business School; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI); Harvard University - Accounting & Control Unit

George P. Baker

HBS Negotiations, Organizations and Markets Unit; National Bureau of Economic Research (NBER)

Carliss Y. Baldwin

Harvard Business School, Finance Unit

Karen H. Wruck

Ohio State University - Fisher College of Business, Department of Finance

Date Written: December 10, 1997

Abstract

This paper describes the history of the development of the course Coordination, Control and the Management of Organizations (CCMO) from its initiation by Michael C. Jensen and William H. Meckling at the University of Rochester in 1973 to its current state as one of the most highly demanded elective courses in the second year of the MBA program at Harvard Business School. CCMO regularly attracts between 500 and 600 of the 850 second-year MBA students.

CCMO presents a new theory of organizations that draws on economics, finance, psychology, neuroscience, and human resource management. In developing our theory, we focus particularly on four interrelated areas: 1) the nature of human beings and their behavior; 2) compensation, career systems, and performance measurement; 3) task structure, organizational boundaries, and technology; and 4) governance, corporate finance, and organizational performance. This paper presents specifics in each of these four categories.

(Forthcoming in The Intellectual Venture Capitalist: John H. McArthur and the Work of the Harvard Business School, 1980-1995, Edited by Thomas K. McCraw and Jeffrey L. Cruikshank, Harvard Business School Press, 1998.)

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The CCMO materials are presented in four electronic documents entitled as follows (you can go directly to each document and its abstract by clicking on the title below):

1. This document -- Organizations and Markets: History and Development of the Course and the Field, by Michael C. Jensen, George P. Baker, Carliss Y. Baldwin, and Karen H. Wruck, Dec. 10, 1997 (forthcoming in "The Intellectual Venture Capitalist: John H. McArthur and the Work of the Harvard Business School," 1980-1995, Thomas K. McCraw and Jeffrey L. Cruickshank, eds, (Harvard Business School Press, 1998)).

2. Coordination, Control, and the Management of Organizations: Course Notes, by Michael C. Jensen and William H. Meckling, with contributions from George P. Baker and Karen H. Wruck, April 20, 1998, Harvard Business School Working Paper.

3. Coordination, Control, and the Management of Organizations: Course Content and Materials, by Michael C. Jensen and Karen H. Wruck, April 20, 1998, unpublished manuscript, Harvard Business School.

4. Coordination, Control, and the Management of Organizations: Practice Questions, by Michael C. Jensen, William H. Meckling, George P. Baker, and Karen H. Wruck, with contributions from Carliss Y. Baldwin, and Malcolm S. Salter, April 20, 1998, unpublished manuscript, Harvard Business School.

Return to main CCMO abstract.

JEL Classification: A23, D21, D23, D60, G30, J33, J50, L20

Suggested Citation

Jensen, Michael C. and Baker, George P. and Baldwin, Carliss Y. and Wruck, Karen H., Organizations and Markets: History and Development of the CCMO Course and the Field (1st of 4 CCMO documents) (December 10, 1997). Available at SSRN: https://ssrn.com/abstract=78009

Michael C. Jensen

SSRN ( email )

7858 Sanderling Road
Sarasota, FL 34242
United States
617-510-3363 (Phone)
305 675-3166 (Fax)

HOME PAGE: http://ssrn.com/author=9

Harvard Business School ( email )

Soldiers Field
Negotiations, Organizations & Markets
Boston, MA 02163
United States
617-510-3363 (Phone)
305-675-3166 (Fax)

HOME PAGE: http://drfd.hbs.edu/fit/public/facultyInfo.do?facInfo=ovr&facId=6484

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

European Corporate Governance Institute (ECGI) ( email )

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

Harvard University - Accounting & Control Unit ( email )

Soldiers Field
Boston, MA 02163
United States

George P. Baker

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

HBS Negotiations, Organizations and Markets Unit ( email )

Soldiers Field
Boston, MA 02163
United States
617-495-6119 (Phone)
617-496-4191 (Fax)

HOME PAGE: http://www.people.hbs.edu/gbaker/index.html

Carliss Y. Baldwin

Harvard Business School, Finance Unit ( email )

Boston, MA 02163
United States

Karen H. Wruck (Contact Author)

Ohio State University - Fisher College of Business, Department of Finance ( email )

2100 Neil Avenue
Columbus, OH 43210-1144
United States
614-688-5443 (Phone)
614-292-2418 (Fax)

HOME PAGE: http://www.cob.ohio-state.edu/~kwruck

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