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Article: Swedish managerial capitalism: did it ever become ascendant? (Nordic Business in the Long View: On Control and Strategy in Structural Change)
- Article from:
- Business History
- Article date:
- April 1, 1993
- Author:
CopyrightCOPYRIGHT 1993 Frank Cass & Company Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Managerial capitalism, in the sense that it has been defined by Chandler, Marris, Daems and others, is a central concept in our understanding of the modern industrial society in which the bulk of strategic investment decisions are taken in large organisations.(1) In Chandler and Daems' model, managerial capitalism is regarded as the third stage in a line of development which starts with personal enterprises, where the owners also act as managers in making decisions about both day-to-day operations and strategic issues. When the size of companies grew, full-time managers were hired to run them while the owners continued to make major policy decisions. This second ...
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