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The rediscovery and analytical reconstitution are present tendencies in much of social science, especially economics and sociology. The emergence and expansion of the so‐called new institutional economics exemplify these tendencies as do attempts at revival and rehabilitation of the old institutional economics. Analogous tendencies have been manifested in sociology by the further development of economic sociology, especially by various reformulations of its classical premise of institutional structuration and embeddedness of economic behavior. Nevertheless, much of mainstream economics tends to neglect or play down certain salient divergences between the latter's neoclassical or orthodox institutionalism, and heterodox or critical institutionalism advanced by the old institutional economics as well as by economic sociology. Identifies and elaborates such divergences between these seemingly homologous varieties of institutionalism. Since institutionalist varieties and tendencies in both economics and sociology are considered, represents a contribution to an interdisciplinary treatment of social institutions, a treatment originally proposed by the old institutional economics of Veblen et al., the German historical school as well as by Weberian‐Durkheimian classical economic sociology.

Institutional changes, in a historical context, through simultaneous evolutionary and metamorphic processes either deform or reform long-enduring institutions. The chapter delves into the Persian history from the early days of the reign of Nāṣer al-Dīn Shāh-e Qājār in 1848 to the recent years and traces Persian institutions' historical transformations, which culminated to the Persian women entrepreneurship. Thus, the chapter first sets the historical context in each period and then sheds light on the pivotal issues of each period's women. The undergirding base of the discussions is the assumption of the change in institutions as natural metamorphosis in the animate. Finally, the discussions contribute to the conceptualization of the Institutional Triangulation and in the case of Persia, a cultural-driven triangulation, which has paved the way to the formation of a stupendously hegemonic patriarchal and masculine sociopolitical economy in Persia, that has historically affected women's institutionalization, subjugation, subordination, marginalization, socialization, emancipation, and most recently Islamization phases.

The purpose of this paper is to demonstrate the importance of institutional innovation in managing the future. Peter Drucker has encouraged managers to develop institutional innovations in order to reach organizational objectives. These institutional innovations revolve round the value created by the organization for its customers over time. Considering Drucker's insight from the perspective of institutional theory, this paper aims to describe how innovations in transaction institutions may lead to strategic transactions and provide a fundamental transformation in the way transactions are conducted in the market.

Using a case study of the development of the American clock industry, it is shown that institutional innovations may provide a leadership position for an organization. By trading direct exchange for an innovative transaction model, management innovation occurred within and well beyond the confines of the American clock market.

The historical case empirically illustrates and extends Drucker's notion of customer‐centric management and the advantage of innovation. Strategically, management must understand how institutional innovations can be used to create a leadership position in the future. This occurs when management uses innovations in transaction rules, termed transaction “institutions”, to create a contrast between the values exchanged between the customer and the organization and the values exchanged between the customer and competing organizations.

Peter Drucker's work is quite broad and, perhaps to his credit, he was never a traditional academic. As a result, evaluating his work is more difficult than evaluating research in one specific theoretical domain. However, it is clear that institutional thinking influenced Drucker. Analytically, this places him at odds with traditional economic and strategic analysis. Accordingly, this research is also somewhat at odds with traditional economic and strategic analysis.

The implications for management are clear. The entrepreneurial role of each type of organisation in solving problems is critical. Only through entrepreneurship can long‐term solutions to problems be developed. This requires a deep understanding of the costs involved, even on a small scale. When the details of costs are understood, entrepreneurial innovations can be developed in response.

This is the first paper that utilizes an institutional framework for strategy analysis based on Peter Drucker's work. This helps managers manage the future by understanding how to systematically take and share risk.

Institutions are collective responses to collective concerns, with the underlying link between concern and response being the purpose of the institution. With this conceptual lens, we analyze the history of the Aktiengesellschaft (AG), which emerged in Austria and Germany around 1800. While any analysis of the organizational features of the form would have diagnosed marked stability over the past two centuries, our historical study reveals significant shifts of the AG’s purpose and meaning: from a vehicle in the service of the public interest, shareholders, and employees to a persona with legitimate self-interests and the will to survive. We suggest to regard such purpose drifts as distinct variant of institutional change. In addition, we conclude that the AG’s essentially political actorhood institutionalizes the ever fragile and delicate quest for a balance between the different legitimate interests on whose behalf a corporation acts (including those of the self). Such a view, we argue, can offer a future for the corporation as organizational form.

This article provides background on the historical development of royal hospitality in India before the advent of commercial hospitality in the twentieth century. The aim of the paper is to insert into the historiography of commercial hospitality the ancient Indian practice of endowing pilgrim rest houses, or chattrams (choultry) for the temporary housing and feeding of travelers, religious mendicants, and other groups in Indian society. As a case study, the article focuses on the chattrams of the Maratha Kings of Tanjavur (Tanjore) in South India, especially during the reign of Raja Serfoji II (r. 1798‐1832). Serfoji, working from the palette of past practices of his forebears, expanded these practices of traditional Hindu religious hospitality to include more progressive and inclusive charity, education and hospitality during the late eighteenth and early nineteenth centuries. Serfoji's munificent activities in his chattrams pose a challenge to any characterization that royal elites adapted historically dormant or static institutions to practical usage in the twentieth century.

This article is based on archival research into the role of institution building in strategies of indigenous kingship in early colonial India. The primary methodology used is content and descriptive analyses of archival documents in the Tamil language related to chattrams constructed by the Maratha court of Tanjavur between 1739 and 1855 CE.

The archival data show that the Maratha court of Tanjavur, particularly under Raja Serfoji II (r. 1798‐1832), incorporated through the chattram institution a greater variety of social groups in its charitable mandate by expanding the traditional forms of pious and ceremonial hospitality of the court to include not only religious mendicants and pilgrims, but also students, staff and European guests as well. The article reveals the manner in which such practices could sustain aspects of the traditional relationship between ruler and subject while creating newly responsive forms of social outreach to wider constituencies by an indigenous court that had been reduced to titular status under the rise of the British East India Company after 1798.

As yet, there has been no systematic survey of the evolution of commercial hospitality in India, nor particularly one that includes the practice of charitable rest houses in pre‐modern India. This article focuses attention on the diversified social functions of these institutions in the early colonial period in south India, and introduces these institutions as a potential precedent of later forms of commercial hospitality.

Since the mid-1800s, Historically Black Colleges and Universities (HBCUs) have been educating a majority of Black Americans. These 105 institutions serve more than 300,000 undergraduate, graduate, and professional students from diverse backgrounds, various socio economic levels, and academic achievement levels. And, it is important that they continue on this challenging journey of addressing the unique needs of the HBCU student by becoming more efficient and focused on their program offerings with minimal state support and shrinking federal funding. Further, systems mandates, board governance, affirmative action, and civil unrest oftentimes camouflage the historic role of the HBCU. Questions arise as to the relevance of these historic institutions when the student, faculty, and staff demographics begin to shift in an effort to compete for the quality and quantity of students enrolling at majority institutions. It is imperative that we continue having crucial conversations surrounding the essence of this challenge. Diversity is our strength and a reality that should not be ignored. What better institution to exemplify inclusive excellence than a HBCU? This chapter will address how these historic institutions can continue to celebrate their legacy while embracing the rich dimensions of diversity, equity, and inclusion.

Racial and ethnic diversity and the attendant challenges and benefits of multiculturalism in society are a worldwide phenomenon. As higher education is often the training ground for future social and political leaders, as well as the primary institution charged with the study of social problems, the educational benefits, and challenges of diversity in society are particularly relevant to institutions of higher learning. This chapter synthesizes the ongoing empirical research on the educational impact of racially and ethnically diverse university environments in a U.S. context and offers a framework of institutional practices based on that work to help administrators both respond to challenges and better harness-related benefits for all students.

In his article on “What Is Still Wrong with Austrian economics?,” Peter Boettke considers matters of strategy for the Austrian school and stresses the importance of institutions and institutional analysis. This comment takes up both themes. Two possible strategies for institutional research are considered. Then the place and role of institutions in Austrian analysis are addressed. It is argued that Austrian thinking has been caught in a dilemma between making theory as general as possible, or of taking on board the historically specific character of key institutions in market economies. The different approaches of Ludwig Mises and Carl Menger to this quandary are compared, with attention to the central concepts of property and capital.

Discusses the survival of a few subscription libraries, and the conditions for that survival in relation to the general decline of such libraries over the last century. Outlines the present state of surviving subscription libraries with particular reference to fundraising, management, staffing and buildings. Discusses the collections and their maintenance, and an account is given of archives surviving in subscription libraries. Considers disposals policies, catalogues and stock conservation. Finally, describes other activities undertaken by the surviving subscription libraries.