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I discuss some of the key topics of this book in a series of essays published in the IE Insights magazine:

1. Do you have an efficient organization?

 

2. Redefining the investor

3. Board as a sovereign steward not shareholders' agent

4. Not all stakeholders are created equal: a tribute to Michael Jensen

BOOK REVIEWS

"Written by two of the foremost experts on the topic, this book is the best attempt so far at explaining Transaction Cost Economics in a way that is meaningful to anyone serious about designing organizations. A much-needed addition to the literature!" Felipe Csaszar, Professor of Strategy, University of Michigan

"This book is a must-read for anyone who has a role in the design and governance of organizations. This book provides a wonderful synthesis of key organizational insights from economics, sociology, and organizational theory that suggest a path for the development of what the authors describe as 'efficient organizations.' In these turbulent times this book holds valuable pointers for scholars and practitioners alike on how we might conceive of organizational design going forward." Ranjay Gulati, Paul R. Lawrence MBA Class of 1942 Professor of Business Administration, Harvard Business School

"Whether designing a start-up or redesigning an established organization, strategic decisions are most sustainable when leaders are sophisticated and forward looking about governance. In Efficient Organization, Mikko Ketokivi and Joe Mahoney provide this sophistication and foresight by illuminating the comparative governance perspective of Nobel laureate Oliver Williamson. This intriguing book offers many detailed illustrations from businesses and non-profits and delivers vital know-why and know-how. The topic is so central (and underutilized) to organizational design that the book should be mandatory reading for every entrepreneur, Executive MBA, and C-suite executive."Jackson Nickerson, Frahm Family Professor of Strategy and Organization Emeritus, Olin Business School, and Executive Vice President and Chief Social Scientist, EPC Learning Labs LLC

"Efficiency has received a lot of bad press lately as something opposite to doing good and being purposeful. The authors rescue the classical concept and put it to good use: how to govern organizations so as to reduce wasteful, risky, and generally bad management. Cheers!" Liisa Valikangas, Technical University of Denmark

"Zwei ausnehmende Professoren haben ein excellentes Buch über das Entwerfen einer effizienten Organisation geschrieben. Vor allem die Behörden sollten es sehr gut lesen. Das Buch ist nicht einfach zu lesen, aber es ist grosse Klasse." Guus Berkhout, University of Delft (emeritus)

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