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Governance gives life to an organization by establishing the rules that shape organizational action. Structures of governance rest on stakeholder engagement, particularly on how stakeholders assess the prospects for earning a return by committing their specialized resources to the organization. Once formalized, governance structures and processes can resist change. Yet, under special circumstances, some stakeholders that are a party to an organization may seek to adapt governance in response to changes in the external environment that surrounds the organization. Adaptation often requires renegotiation: who has claims on the organization and who gets what? In this article we analyze the relationship between the institutional change that drives adaptation and the outcome of renegotiation. We draw on institutional economics and organization theory to identify four pathways of governance adaptation: continuity, architectural change, enfranchisement change, and redistribution. We call for further theoretical and empirical research on governance adaptation and its implications for organizational value creation and capture. [ABSTRACT FROM AUTHOR]

To the surprise of many in the West, the fall of the USSR in 1991 did not lead to the adoption of liberal democratic government around the world and the much anticipated "end of history." In fact, authoritarianism has made a comeback, and liberal democracy has been on the retreat for at least the last 15 years culminating in the unthinkable: the invasion of a democratic European country by an authoritarian regime. But why does authoritarianism continue to spread, not only as an alternative to liberal democracy, but also within many liberal democracies where authoritarian leaders continue to gain strength and popularity? In this curated piece, contributors discuss some of the potential contributions of management scholarship to understanding authoritarianism, as well as highlight a number of directions for management research in this area. [ABSTRACT FROM AUTHOR]

The article presents a speech by president of Academy of Management Anita M. McGahan in Atlanta 2017 as presidential address on freedom in scholarship. Topics included Atlanta’s successes and problems, relationship between prosperity and freedom, and climate change.

The four trajectories of change are intermediating change, radical change, creative change, and progressive change. The traits of each are described, and suggestions for appropriate and successful corporate navigation of each are offered.

Evidence is provided on a broad cross-section of publicly traded companies to discuss the turnaround as business phenomenon. Several exceptional businesses that remained independent, survived and accomplished turnarounds during the 1980s and 1990s are also identified.

The Merck and Company $6.6 billion acquisition of Medco Containment Services, a prescription-benefits-management company (PBM), has inspired similar acquisitions of PBMs by other pharmaceutical companies. The pharmaceutical companies claim that such acquisitions provide invaluable drug-research information from PBM customers, but others are critical of the fact that PBMs may be put in the position of offering incentives to doctors who use products produced by their parent companies.

Abstract Biopharmaceutical innovation has had a profound health and economic impact globally. Developed countries have traditionally been the source of most innovations as well as the destination for the resulting economic and health benefits. As a result, most prior research on this sector has focused on developed countries. This paper seeks to fill the gap in research on emerging markets by analyzing factors that influence innovative activity in the indigenous biopharmaceutical sectors of China, India, Brazil, and South Africa. Using qualitative research methodologies, this paper a) shows how biopharmaceutical innovation is taking place within the entrepreneurial sectors of these emerging markets, b) identifies common challenges that indigenous entrepreneurs face, c) highlights the key role played by the state, and d) reveals that the transition to innovation by companies in the emerging markets is characterized by increased global integration. It suggests that biopharmaceutical innovators in emerging markets are capitalizing on opportunities to participate in the drug development value chain and thus developing capabilities and relationships for competing globally both with and against established companies headquartered in developed countries.

Businesses in a wide range of industries profit from the immigration of vulnerable people who are crossing international boundaries to escape war, famine, poverty, and persecution. I argue that the field of management faces a moral, humanitarian, and social imperative to deal comprehensively with the implications of this fact. [ABSTRACT FROM AUTHOR]