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Author: | Turnbull, S. |
Title: | Stakeholder Democracy: redesigning the governance of firms and bureaucracies |
Journal: | Journal of Socio-Economics
1994 : VOL. 23:3, p. 321-360 |
Index terms: | SOCIOLOGY COMPANIES BUREAUCRACY |
Language: | eng |
Abstract: | The article develops criteria for improving the socioeconomic performance of hierarchies, be they in firms or bureaucracies. The design criteria are based on the closed-loop feedback information and control systems found in all living things. The article identifies four types of governance mechanisms from which the theory of firm becomes a special case of a general theory of social construction. This framework is used to analyze the socioeconomic performance of Mondragon worker and/or consumer cooperatives and the structure of the Australian and Torres Strait Islander Commission. |
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