Traditional hierarchies are giving way to market forms of organizing that will recast the role of management.
Editor’s Note: This article is one of a special series of 14 commissioned essays MIT Sloan Management Review is publishing to celebrate the launch of our new Frontiers initiative. Each essay gives the author’s response to this question:
“Within the next five years, how will technology change the practice of management in a way we have not yet witnessed?”
New technologies are eroding transaction costs — and in the process creating a world that is increasingly connected. The resulting level of interdependence creates a radically new set of challenges for management. ...