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New Practice Creation: An Institutional Approach To Innovation, Michael Lounsbury
New Practice Creation: An Institutional Approach To Innovation, Michael Lounsbury
michael lounsbury
Neoinstitutionalists have developed a rich array of theoretical and empirical insights about how new practices become established via legitimacy and diffusion, but have paid scant attention to their origins. This blind spot has been reinforced by recent work on institutional entrepreneurship which has too often celebrated the actions of a single or small number of actors, and deflected attention away from the emergent, multilevel nature of how new kinds of activities emerge and provide a foundation for the creation of a new practice. In this paper, we examine the case of the creation of active money management practice in the …
A Tale Of Two Cities: Competing Logics And Practice Variation In The Professionalizing Of Mutual Funds, Michael Lounsbury
A Tale Of Two Cities: Competing Logics And Practice Variation In The Professionalizing Of Mutual Funds, Michael Lounsbury
michael lounsbury
This article examines practice diffusion in an environment where competing logics exist, specifically investigating how trustee and performance logics that were rooted in different locations (Boston and New York) led to variation in how mutual funds established contracts with independent professional money management firms. This focus on competing logics redirects institutional research away from isomorphism and the segregation of institutional and technical forces and toward an appreciation of how multiple forms of rationality underlie change in organizational fields. Implications for the dominant two-stage institutional model of diffusion and for research on institutions, organizations, and professions are discussed.