Is Your Company Ready to Operate as a Market?

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. ...

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