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Management Consultancies as Institutional Agents: Strategies for Creating and Sustaining Institutional Capital

Author

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  • Markus Reihlen
  • Michael Smets
  • Andreas Veit

Abstract

We classify the strategies by which management consultancies can create and sustain the institutional capital that makes it possible for them to extract competitive resources from their institutional context. Using examples from the German consulting industry, we show how localized competitive actions can enhance both individual firms’ positions, and also strengthen the collective institutional capital of the consulting industry thus legitimizing consulting services in broader sectors of society and facilitating access to requisite resources. Our findings counter the image of institutional entrepreneurship as individualistic, “heroic” action. We demonstrate how distributed, embedded actors can collectively shape the institutional context from within to enhance their institutional capital.

Suggested Citation

  • Markus Reihlen & Michael Smets & Andreas Veit, 2010. "Management Consultancies as Institutional Agents: Strategies for Creating and Sustaining Institutional Capital," Schmalenbach Business Review (sbr), LMU Munich School of Management, vol. 62(3), pages 317-339, July.
  • Handle: RePEc:sbr:abstra:v:62:y:2010:i:3:p:317-339
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    Cited by:

    1. Back, Yujin & Praveen Parboteeah, K. & Nam, Dae-il, 2014. "Innovation in Emerging Markets: The Role of Management Consulting Firms," Journal of International Management, Elsevier, vol. 20(4), pages 390-405.
    2. Welter, Friederike & Smallbone, David, 2015. "Creative forces for entrepreneurship: The role of institutional change agents," Working Papers 01/15, Institut für Mittelstandsforschung (IfM) Bonn.
    3. Lyons, Margaret & Bartlett, Jennifer & McDonald, Paula, 2016. "Corporate social responsibility in junior and mid-tier resources companies operating in developing nations – beyond the public relations offensive," Resources Policy, Elsevier, vol. 50(C), pages 204-213.

    More about this item

    Keywords

    Consulting Industry; Embedded Agency; Institutional Capital; Institutional Strategy; Neoinstitutionalism.;

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L84 - Industrial Organization - - Industry Studies: Services - - - Personal, Professional, and Business Services
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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