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Jones (1997)Management > Comparative Management > Lectures > Independent Research > Jones
Jones (1997) - Great Britain: Big business, management, and competitiveness in twentieth century BritainPersonal Capitalism before 1945 The main Chandlerian view of British business is that it failed to develop organisational capabilities, which in turn weakened the British economy. Chandler argues that the UK opted for personal capitalism instead of emulating US managerial hierarchies. This was party due to the persistence of family-owned firms and personal "styles" of management, which resulted in no co-ordination and low efficiency. The decentralised and thin hierarchies constrained British businesses to compete in capital-intensive industries. Personal capitalism, as Chandler suggests, is defined by a preference for short-term gain, rather than long term growth of assets, and a bias for small scale investments, which contributed to a failure to modernise. British public policy encouraged anti-competitive and collusive behaviour. Firms opted for security and stability and were afraid of offending vested groups.
Why it still wasn't working out
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