Against this, current theories maintain that co-evolution of organizations (e.g., MNEs) and institutions is viable because institutional arrangements are open, albeit unpredictable.
For instance, North and Wallis (1994) point to the distinction between social technologies and physical technologies.
The difference between the two lies, according to the authors, is that, while one evolves in patterned human interaction, the other is engineered.
Certain aspects of social technologies happen to yield only particular standardized and legitimized rules, but not others.
This is because of the potential availability of many alternative institutional arrangements at any given point in time (North 2005).
Accordingly, the evolution takes place as institutions (and their enforcement mecha-nisms) set the rules of the game, which organizations, in pursuit of their own learning and resource allocative goals, must follow.
Against this, current theories maintain that co-evolution of organizations (e.g., MNEs) and institutions is viable because institutional arrangements are open, albeit unpredictable.For instance, North and Wallis (1994) point to the distinction between social technologies and physical technologies.The difference between the two lies, according to the authors, is that, while one evolves in patterned human interaction, the other is engineered.Certain aspects of social technologies happen to yield only particular standardized and legitimized rules, but not others.This is because of the potential availability of many alternative institutional arrangements at any given point in time (North 2005).Accordingly, the evolution takes place as institutions (and their enforcement mecha-nisms) set the rules of the game, which organizations, in pursuit of their own learning and resource allocative goals, must follow.
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