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This interview complements three interviews conducted at SMS conferences, with scholars who have made seminal contributions to the foundations of knowledge and innovation. The producers of the video with Professor March provided the following overview. --------------------- This interview is the next in a series of interviews on the foundations of knowledge and innovation, where PhD students interview scholars who have made a profound impact on the field of management. We sat down with professor James G. March from the Stanford Graduate School of Business to talk about his work, ideas, search for knowledge and managerial relevance. Professor March has published over 200 books and articles, the work that shaped the way management scholars think about organizations. The garbage can model, the behavioral theory of the firm and balancing exploration and exploitation are only a few of his profound ideas. The interview was filmed on September 29th, 2013 in Stanford, CA. Interviewers: Maciej Workiewicz (INSEAD) Jiyang Dong (INSEAD) For the other interviews in the series please see: Professor Sidney Winter (Wharton) http://www.youtube.com/watch?v=4JK342... Professor Robert Grant (Bocconi) http://www.youtube.com/watch?v=hJixvP... Professor Linda Argote (Tepper School of Business) http://www.youtube.com/watch?v=5K5tIs... Links to individual questions: 0:00:46 Key differences between the classical economics and the behavioral theory of the firm 0:04:00 Does organizing individuals reduces the effects of their bounded rationality? 0:05:10 Effects of conflict on organizational decision making 0:06:40 The garbage can model 0:07:55 Does the garbage can model apply to competitive firms? 0:09:10 Logic of appropriateness vs. logic of consequences 0:10:40 Can the two logic be reconciled? 0:12:43 Rule-based behavior - how it evolved since the Cyert and March 1963 book? 0:14:20 How is the logic of appropriateness different from routines in Nelson and Winter 1982 book? 0:16:10 Can individuals act against their own preferences? 0:17:45 Logic of appropriateness and ethical behavior 0:20:20 Are rules a source of stability or change? 0:21:45 How do rules change? 0:23:55 Does more experience lead to more intelligent behavior? 0:26:20 What are the traps of experience? 0:27:45 How to overcome the problem of paucity of experience? 0:30:50 Is it possible to improve on an evolutionary process? 0:37:10 Technology of foolishness 0:40:10 How can organizations harness novelty? 0:42:15 How can society support and maintain foolishness? 0:43:20 Beauty, truth and justice - how does the behavioral theory score on those dimensions? 0:45:10 The concept of power 0:45:45 The role of leaders in a complex world? 0:49:03 Capabilities and luck 0:52:25 How much can we learn from business case studies? 0:54:45 Key challenges facing researchers in studying organizations 0:57:50 Should scholars strive to be managerially relevant? 1:00:35 What qualities characterize good graduate students and how can they be nurtured? 1:05:23 What should we be teaching business students? 1:07:15 Main challenges with doing multidisciplinary work. 1:09:57 Is the struggle between economics and the behavioral theory of the firm over? 1:14:10 Promising avenues in organizational research Category People & Blogs Licence Standard YouTube Licence