Chapter 2: An Introduction to Complexity Theory – Some Insights
2. An introduction to complexity theory – some insights 2.1 INTRODUCTION AND SOME INSIGHTS FROM COMPLEXITY THEORY This chapter is based on practical work undertaken as part of an ESRC1funded study on complexity theory and corporate governance frameworks. The study included in-depth interviews with a wide cross-section of employees in one global organization (to be referred to as company Z) and with the following organizations which make up part of the corporate governance social ecosystem in the UK: Trades Union Congress (TUC), Financial Reporting Council (FRC), Department of Trade and Industry (DTI), Her Majesty’s Treasury (HMT), State Street Global Advisors (SSgA), Financial Services Authority (FSA), the London Stock Exchange and several fund management companies. The findings were validated at several workshops with representatives from company Z and from all the stakeholders interviewed, as well as other stakeholders who had a direct interest in corporate governance, but had not been interviewed. All human systems and institutions are complex in the sense that they are multidimensional with social, cultural, political, physical, technical, economic and other dimensions which interact and influence each other. They are able to adapt to and co-evolve with changing conditions and are able to create new order. In a corporate governance context, new order may take the form of new rules, regulations, corporate governance frameworks, or a new culture; it may also include the creation of enabling environments that facilitate good corporate governance within individual organizations as well as industries and economies. Complexity theory therefore studies social systems holistically; it...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.