By Charles Arthur Conant
...With An Account Of the commercial Crises Of The 19th Century And The quandary Of 1907
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Extra info for A History Of Modern Banks Of Issue
The new applications of the information and communication technology (ICT) paradigm have flattened managerial hierarchies just as the second industrial revolution increased their depth; thus the depth of the corporate hierarchy decreases. It has also been noted (Krafcik 1988) that this type of organization is characterized by a higher span of control, possibly due to the fact that ICTs allow managers to monitor more employees. e. by the so-called “white collarization of blue collars” (Koike 1990).
A corporate superior of the MU). g. workers, clerks). e. levels between lower levels and the manager of the unit). g. firm, plant, factory, shop). owned by a multi-unit public firm) take strategic decisions. It is worth noticing that this classification of the decision-making process allows us not only to envisage the allocation of power within the corporate hierarchy but also to investigate situations in which formal and real authority is split between two different tiers (the manager of the unit, on the one hand, and his superior, on the other) as in the case of level 3 (for a discussion, see Chapter 2).
The capacity to collectively produce a product of given quality repeatedly and to document the sequence of decisions and related outcome, see Hannan and Freeman 1984, p. 153). But in order to assure reliability and accountability, a firm’s organizational structure needs to be reproducible over time. This is obtained by processes of institutionalization and by the creation of standardized routines, two factors which make firms highly resistant to change. Evolutionary theories of economic change (see Nelson and Winter 1982) help us to understand why organizational routines may be a source of structural inertia.
A History Of Modern Banks Of Issue by Charles Arthur Conant