Readers interested in the economics literature on management, the firm, and entrepreneurship, will likely be interested in Organizing Entrepreneurial Judgment by Nicolai J. Foss and Peter Klein.
The International Entrepreneurship and Management Journal has recently posted a scholarly review of the book. According the journal, Foss and Klein’s book features, among other things,
a welcome overview of how entrepreneurs organize within firms, and what goods they have at their disposal to do so. An integration of capital theory into the entrepreneurial theory of the firm is essential to telling the complete story. If entrepreneurs are to exercise their judgment, they must do so by arranging the firm’s capital in such a way as to exploit opportunities to the fullest extent. It is here where management scholars will likely be on uncertain ground, as the text discusses issues more at home in an economics text. Foss and Klein do an able job of keeping the theory grounded by invoking simple examples to explain the progressively more complex theories, e.g., the discussion on the 1980 Supreme Court decision in Diamond v. Chakrabarty that removed a significant amount of uncertainty concerning biotechnology patents, and how the decision increased the potential for entrepreneurial discoveries previously shielded.
