Abstract:

Organizational theory and organizational economics both acknowledge the existence of the firm; research about the firm, and the organization of work and people followed the path of tracing responsibility, ownership, control, and the dispensation of the unit of work to create value for the owner otherwise referred to as investor/entrepreneurs and or the owner’s shareholders. In attempting to appreciate organizational economics, we discover that it actually is linked to define departments and divisions in the organization, resource allocation, the role hierarchy and control, the important role of contracts in the field, how decisions happen and where they occur from in an organization.

This research then leads to further understanding of organizational configuration which describes the way an organization is organized structurally and how their approach of doing business is described, this school of thought has been a big consideration within management research and thinking for many years; all this synthesized and guided by scholarly wisdom then discusses; an organizational economics view of the firm as a basis for the justification of the entrepreneurial organization’s existence and how foundational literature in management and organizational economics can be used to create the modern entrepreneurial organization structure lead by the coordinator called ‘The Entrepreneur’.

Keywords and terminologies: Firm, organization, entrepreneur, coordinator, organizational economics, management, structure.

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