IDEAS home Printed from https://ideas.repec.org/a/eee/eurman/v35y2017i3p285-296.html
   My bibliography  Save this article

Craft, magic and the re-enchantment of the world

Author

Listed:
  • Suddaby, Roy
  • Ganzin, Max
  • Minkus, Alison

Abstract

This essay challenges the prevailing view of progressive rationality and disenchantment as set out in Max Weber's social theory and reproduced in organizational neo-institutionalism. We observe that rationality and disenchantment cannot exist in the absence of magic, mystery and enchantment. We argue that the contemporary celebration of rationality and disenchantment is a modernist discourse that has marginalized equally compelling instances of re-enchantment. Drawing from the popular press and management research we identify five themes of re-enchantment in the world; the rise of populism, the return of tribalism, the resurgence of religion, the re-enchantment of science and the return to craft. We use these phenomena to elaborate four alternative constructs – authenticity, reflexivity, mimesis and incantation - that counterbalance the over rationalized and paralyzing concepts in neo-institutionalism – legitimacy, embeddedness, isomorphism and diffusion.

Suggested Citation

  • Suddaby, Roy & Ganzin, Max & Minkus, Alison, 2017. "Craft, magic and the re-enchantment of the world," European Management Journal, Elsevier, vol. 35(3), pages 285-296.
  • Handle: RePEc:eee:eurman:v:35:y:2017:i:3:p:285-296
    DOI: 10.1016/j.emj.2017.03.009
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0263237317300543
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.emj.2017.03.009?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Fama, Eugene F & French, Kenneth R, 1992. "The Cross-Section of Expected Stock Returns," Journal of Finance, American Finance Association, vol. 47(2), pages 427-465, June.
    2. Fama, Eugene F. & French, Kenneth R., 2012. "Size, value, and momentum in international stock returns," Journal of Financial Economics, Elsevier, vol. 105(3), pages 457-472.
    3. Marshall Van Alstyne & Erik Brynjolfsson, 2005. "Global Village or Cyber-Balkans? Modeling and Measuring the Integration of Electronic Communities," Management Science, INFORMS, vol. 51(6), pages 851-868, June.
    4. Rodolphe Durand & Hayagreeva Rao & Philippe Monin, 2003. "Institutional Change in Toque Ville: Nouvelle Cuisine as an Identity Movement in French Gastronomy," Post-Print hal-00480858, HAL.
    5. Inglehart, Ronald F. & Norris, Pippa, 2016. "Trump, Brexit, and the Rise of Populism: Economic Have-Nots and Cultural Backlash," Working Paper Series 16-026, Harvard University, John F. Kennedy School of Government.
    6. Paul C. Tetlock, 2007. "Giving Content to Investor Sentiment: The Role of Media in the Stock Market," Journal of Finance, American Finance Association, vol. 62(3), pages 1139-1168, June.
    7. Mackenzie, Donald, 2006. "Is Economics Performative? Option Theory and the Construction of Derivatives Markets," Journal of the History of Economic Thought, Cambridge University Press, vol. 28(1), pages 29-55, March.
    8. Hayagreeva Rao & Philippe Monin & Rodolphe Durand, 2003. "Institutional change in toque ville : Nouvelle cuisine as an identity movement in French gastronomy," Post-Print hal-02311672, HAL.
    9. Tim Loughran & Bill Mcdonald, 2011. "When Is a Liability Not a Liability? Textual Analysis, Dictionaries, and 10‐Ks," Journal of Finance, American Finance Association, vol. 66(1), pages 35-65, February.
    10. Jim Giles, 2005. "Internet encyclopaedias go head to head," Nature, Nature, vol. 438(7070), pages 900-901, December.
    11. Majken Schultz & Tor Hernes, 2013. "A Temporal Perspective on Organizational Identity," Organization Science, INFORMS, vol. 24(1), pages 1-21, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bajde, Domen & Chelekis, Jessica & van Dalen, Arjen, 2022. "The megamarketing of microfinance: Developing and maintaining an industry aura of virtue," International Journal of Research in Marketing, Elsevier, vol. 39(1), pages 134-155.
    2. Wæraas, Arild, 2017. "The external presentation of organizational identity orientation: A study of employment advertisement s 1975-2015," Working Paper Series 07-2017, Norwegian University of Life Sciences, School of Economics and Business.
    3. Browder, Russell E. & Aldrich, Howard E. & Bradley, Steven W., 2019. "The emergence of the maker movement: Implications for entrepreneurship research," Journal of Business Venturing, Elsevier, vol. 34(3), pages 459-476.
    4. Linneberg, Mai Skjøtt & Trenca, Mihaela & Noerreklit, Hanne, 2021. "Institutional work through empathic engagement," European Management Journal, Elsevier, vol. 39(1), pages 46-56.
    5. Kvåle, Gro & Torjesen, Dag Olaf, 2021. "Social movements and the contested institutional identity of the hospital," Social Science & Medicine, Elsevier, vol. 269(C).
    6. Roundy, Philip T., 2020. "An “extra life” for the arcade? Entrepreneurship, hybridization, and industry renewal," Journal of Business Venturing Insights, Elsevier, vol. 14(C).
    7. Rohny Saylors & Amrita Lahiri & Benjamin Warnick & Chandresh Baid, 2023. "Looking Back To Venture Forward: Exploring Idea and Identity Work in Public Failure Narratives," Entrepreneurship Theory and Practice, , vol. 47(2), pages 398-429, March.
    8. Farah, Maya F. & Ramadan, Zahy B. & Harb, Dana H., 2019. "The examination of virtual reality at the intersection of consumer experience, shopping journey and physical retailing," Journal of Retailing and Consumer Services, Elsevier, vol. 48(C), pages 136-143.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Liebmann, Michael & Orlov, Alexei G. & Neumann, Dirk, 2016. "The tone of financial news and the perceptions of stock and CDS traders," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 159-175.
    2. Cohen, Lauren & Diether, Karl & Malloy, Christopher, 2013. "Legislating stock prices," Journal of Financial Economics, Elsevier, vol. 110(3), pages 574-595.
    3. Gerard Hoberg & S. Katie Moon, 2019. "The Offshoring Return Premium," Management Science, INFORMS, vol. 67(6), pages 2876-2899, June.
    4. Duan, Yuejiao & Liu, Lanbiao & Wang, Zhuo, 2021. "COVID-19 Sentiment and the Chinese Stock Market: Evidence from the Official News Media and Sina Weibo," Research in International Business and Finance, Elsevier, vol. 58(C).
    5. Narayan, Paresh Kumar, 2019. "Can stale oil price news predict stock returns?," Energy Economics, Elsevier, vol. 83(C), pages 430-444.
    6. Lauren Cohen & Karl B. Diether & Christopher Malloy, 2012. "Legislating Stock Prices," NBER Working Papers 18291, National Bureau of Economic Research, Inc.
    7. Hee‐Chan Song, 2023. "Identity Conflict Amidst Environmental Change: An Ethnography of a Korean Buddhist Temple," Journal of Management Studies, Wiley Blackwell, vol. 60(4), pages 889-923, June.
    8. Joon Mahn Lee & Byoung‐Hyoun Hwang & Hailiang Chen, 2017. "Are founder CEOs more overconfident than professional CEOs? Evidence from S&P 1500 companies," Strategic Management Journal, Wiley Blackwell, vol. 38(3), pages 751-769, March.
    9. Ziyang Ji & Victor Chang & Hao Lan & Ching-Hsien Robert Hsu & Raul Valverde, 2020. "Empirical Research on the Fama-French Three-Factor Model and a Sentiment-Related Four-Factor Model in the Chinese Blockchain Industry," Sustainability, MDPI, vol. 12(12), pages 1-22, June.
    10. Thomas Boulton & Bill B. Francis & Thomas Shohfi & Daqi Xin, 2021. "Investor awareness or information asymmetry? Wikipedia and IPO underpricing," The Financial Review, Eastern Finance Association, vol. 56(3), pages 535-561, August.
    11. Tawei Wang & Karthik N. Kannan & Jackie Rees Ulmer, 2013. "The Association Between the Disclosure and the Realization of Information Security Risk Factors," Information Systems Research, INFORMS, vol. 24(2), pages 201-218, June.
    12. Li, Ken, 2022. "Textual fundamentals in earnings press releases," Advances in accounting, Elsevier, vol. 57(C).
    13. Ardia, David & Bluteau, Keven & Boudt, Kris, 2022. "Media abnormal tone, earnings announcements, and the stock market," Journal of Financial Markets, Elsevier, vol. 61(C).
    14. Liu, Sha & Han, Jingguang, 2020. "Media tone and expected stock returns," International Review of Financial Analysis, Elsevier, vol. 70(C).
    15. Caylor, Marcus & Cecchini, Mark & Winchel, Jennifer, 2017. "Analysts' qualitative statements and the profitability of favorable investment recommendations," Accounting, Organizations and Society, Elsevier, vol. 57(C), pages 33-51.
    16. repec:hal:spmain:info:hdl:2441/1q24hpq2919to8ct061g8p33kn is not listed on IDEAS
    17. Eun, Cheol & Lee, Kyuseok & Wei, Fengrong, 2023. "Dual role of the country factors in international asset pricing: The local factors and proxies for the global factors," International Review of Financial Analysis, Elsevier, vol. 89(C).
    18. Müller, Karsten, 2020. "German forecasters' narratives: How informative are German business cycle forecast reports?," Working Papers 23, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    19. David E. Allen & Michael McAleer & Abhay K. Singh, 2019. "Daily market news sentiment and stock prices," Applied Economics, Taylor & Francis Journals, vol. 51(30), pages 3212-3235, June.
    20. Yan Luo & Linying Zhou, 2020. "Textual tone in corporate financial disclosures: a survey of the literature," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 17(2), pages 101-110, September.
    21. Jiao Ji & Oleksandr Talavera & Shuxing Yin, 2018. "The Hidden Information Content: Evidence from the Tone of Independent Director Reports," Working Papers 2018-28, Swansea University, School of Management.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eurman:v:35:y:2017:i:3:p:285-296. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/115/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.