AI Summary & Key Takeaways
AI InsightNevertheless, each of these models have comparative advantages in terms of managing social and intellectual capital.
📌 3 Key Takeaways
Özet
The shift from neo-classical economic paradigm to more transactional and institutional approaches is based on the arguments which assert that markets as well as hierarchies are fallible and insufficient to solely achieve organizational and/or collective goals. The new dimensions - network models, social, intellectual and human capital- have been included in contemporary management, political and economic literature. In line with this movement, this paper is concerned with a more holistic approach to manage social and intellectual capital; and argues in favor of linking hierarchy, market, and community relations with social capital approach to improve information sharing in organizations. The paper concludes these models of interactions have individual pros and cons, and none of them has any superiority over others. Nevertheless, each of these models have comparative advantages in terms of managing social and intellectual capital.