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From Hierarchy to Enterprise: Internal Markets Are the New Foundation of Management
William E. Halal
The Academy of Management Executive (1993-2005)
Vol. 8, No. 4, Restructuring, Re-Engineering, and Rightsizing (Nov., 1994), pp. 69-83
Published by: Academy of Management
Stable URL: http://www.jstor.org/stable/4165224
Page Count: 15
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Much like the nation states of Eastern Europe, many of the world's business corporations are going through their own form of perestroika. Highly centralized hierarchies are decomposing into de-centralized, market-driven systems. This transition from hierarchy to enterprise requires a drastic change in executive roles. Executives should leave most decisions to the market, create an organizational infrastructure to guide behavior, and foster collaboration within the corporate community. This change for the corporate executive may be just as dramatic, and productive, as the change required for officials in the economies replacing communism.
The Academy of Management Executive (1993-2005) © 1994 Academy of Management