Walter W. Powell

Bio: Walter W. Powell is an academic researcher from Stanford University. The author has contributed to research in topics: New institutionalism & Organizational analysis. The author has an hindex of 56, co-authored 120 publications receiving 82637 citations. Previous affiliations of Walter W. Powell include University of Michigan & University of Arizona.

Collective Invention and Inventor Networks

Abstract: Collective invention occurs when competing organizations share knowledge about the design and development of new technologies. Such exchange and circulation of ideas and practices among communities of inventors was relatively common in the nineteenth century, most notably in geographically localized industrial districts. This collective system of innovation was eclipsed in the early and mid-twentieth century by the rise to prominence of the large corporate R&D lab. Recent decades, however, have seen the decline of stand-alone, internal corporate labs and the resurgence of collective efforts by networks of inventors, distributed across organizations and spanning distant locations. We draw on literatures in economics, innovation studies, management, and sociology to posit explanations for this recent rise. Suggestive additional evidence is provided from comparative analyses of patent data from the 1970s and the present decade.

Accounting for Emergence and Novelty in Boston and Bay Area Biotechnology

Abstract: and the participants in the 2003 and 2004 Genesis of Clusters workshops for their comments on earlier drafts. We are grateful for research support from the Hewlett Foundation and the Merck Foundation.

Managing Legitimacy: Strategic and Institutional Approaches

Abstract: This article synthesizes the large but diverse literature on organizational legitimacy, highlighting similarities and disparities among the leading strategic and institutional approaches. The analysis identifies three primary forms of legitimacy: pragmatic, based on audience self-interest; moral, based on normative approval: and cognitive, based on comprehensibility and taken-for-grantedness. The article then examines strategies for gaining, maintaining, and repairing legitimacy of each type, suggesting both the promises and the pitfalls of such instrumental manipulations.

Dynamic capabilities, what are they?

Abstract: This paper focuses on dynamic capabilities and, more generally, the resource-based view of the firm. We argue that dynamic capabilities are a set of specific and identifiable processes such as product development, strategic decision making, and alliancing. They are neither vague nor tautological. Although dynamic capabilities are idiosyncratic in their details and path dependent in their emergence, they have significant commonalities across firms (popularly termed ‘best practice’). This suggests that they are more homogeneous, fungible, equifinal, and substitutable than is usually assumed. In moderately dynamic markets, dynamic capabilities resemble the traditional conception of routines. They are detailed, analytic, stable processes with predictable outcomes. In contrast, in high-velocity markets, they are simple, highly experiential and fragile processes with unpredictable outcomes. Finally, well-known learning mechanisms guide the evolution of dynamic capabilities. In moderately dynamic markets, the evolutionary emphasis is on variation. In high-velocity markets, it is on selection. At the level of RBV, we conclude that traditional RBV misidentifies the locus of long-term competitive advantage in dynamic markets, overemphasizes the strategic logic of leverage, and reaches a boundary condition in high-velocity markets. Copyright © 2000 John Wiley & Sons, Ltd.

The Relational View: Cooperative Strategy and Sources of Interorganizational Competitive Advantage

Abstract: In this article we offer a view that suggests that a firm's critical resources may span firm boundaries and may be embedded in interfirm resources and routines. We argue that an increasingly important unit of analysis for understanding competitive advantage is the relationship between firms and identify four potential sources of interorganizational competitive advantage: (1) relation-specific assets, (2) knowledge-sharing routines, (3) complementary resources/capabilities, and (4) effective governance. We examine each of these potential sources of rent in detail, identifying key subprocesses, and also discuss the isolating mechanisms that serve to preserve relational rents. Finally, we discuss how the relational view may offer normative prescriptions for firm-level strategies that contradict the prescriptions offered by those with a resource-based view or industry structure view.

“Bowling Alone: America’s Declining Social Capital”

Abstract: After briefly explaining why social capital (civil society) is important to democracy, Putnam devotes the bulk of this chapter to demonstrating social capital’s decline in the United States across the last quarter century. (See Putnam 1995 for a similar but more detailed argument.) While he acknowledges that the significance of a few countertrends is difficult to assess without further study, Putnam concludes that crucial factors such as social trust are eroding rapidly in the United States. He offers some possible explanations for this erosion and concludes by outlining the work needed to consider these possibilities more fully.

Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts

Abstract: Stakeholder theory has been a popular heuristic for describing the management environment for years, but it has not attained full theoretical status. Our aim in this article is to contribute to a theory of stakeholder identification and salience based on stakeholders possessing one or more of three relationship attributes: power, legitimacy, and urgency. By combining these attributes, we generate a typology of stakeholders, propositions concerning their salience to managers of the firm, and research and management implications.