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Change is a focal category in management research. The dynamic approach remains nevertheless at an early stage of maturing its epistemological and methodological paradigms. This paper distinguishes two major stances. Firstly equilibrium theories are discussed. Those assume the existence of a theoretical equilibrium state in order to elucidate empirical discrepancies and their convergence to equilibrium. Dialectics and game theory exemplify this approach. Secondly, evolutionary theories are discussed. The moving force of change, which is learning, alongside with the capacity to change which depends on flexibility are briefly stressed. Finally dynamic capabilities capture the capacity to reshape operational routines of the firm
EN
Globalization is the leading concept, which has become an immanent feature of the contemporary world. Almost all enterprises have been affected by occurring changes in the global economy. Progression from finance seized with hubris, through financialized governance, and instrumented management led to an economic collapse in 2007. It is a reflection of the „failing regulations”, or more precisely, the end of the myth of self-regulation, whether by market or professional bodies set up to do so. It appears therefore necessary to create a new framework, including a new perspective on finance (through the prism of social science), and a corporate governance system more stakeholder-oriented. Under conditions of free market economy, a good corporate governance system should integrate the various areas of governance, namely, regulatory, market, stakeholders, internal (shareholders), with varying methods of governance and the mechanisms at different times and conditions.
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