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Herbert Simon and the concept of dispersed entrepreneurship

Minkes, A. L. and Foxall, Gordon Robert 2003. Herbert Simon and the concept of dispersed entrepreneurship. Journal of Economic Psychology 24 (2) , pp. 221-228. 10.1016/S0167-4870(02)00204-0

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Abstract

This essay discusses the direct and indirect ways in which HerbertSimon’s ideas influenced two British scholars in the study of decision making and entrepreneurship in the large and complex modern business corporation. It suggests that his focus on imperfect and dispersed knowledge and on subsystems in organisations were forerunners of the notions of incrementalism and diffused entrepreneurship. While having proper regard to the characteristics of the inspirational individual as entrepreneur, we have drawn on the behavioural science approach which, in significant respects, transcends traditional ideas of leadership in decision making. We have been drawn by the continuing thread in Simon’s work, through bounded rationality, variety of objectives, procedural rationality, and organisational complexity. His emphasis on processes as determinants of the quality of decision making in economic organisations has been a significant influence.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Uncontrolled Keywords: Herbert A. Simon; Dispersed entrepreneurship; Satisficing; Bounded rationality; Procedural rationality
Publisher: Elsevier
ISSN: 0167-4870
Last Modified: 04 Jun 2017 04:29
URI: http://orca.cf.ac.uk/id/eprint/40016

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