A Distributed Future:How Blockchain Affects Strategic Management, Organisation Design & Governance

Publisher:
Academy of Management
Publication Type:
Conference Proceeding
Citation:
At the Interface, 2017
Issue Date:
2017-08-04
Metrics:
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Blockchain is a new technology that transforms strategic management, organisational design and governance due to its decentralised and distributed characteristics. It is a database technology, a distributed ledger, that records and maintains indefinitely an ever-growing list of data records, which cannot be altered or tampered with. The usage of smart contracts on blockchains, affects strategic management as the process of developing, executing and evaluating decisions will become automated and irreversible. This will result in new, disruptive, organisation design, including that of a Decentralised Autonomous Organisation (DAO). These are organisations that establish governance without managers or employees, run completely by autonomous computer software, where trust among actors is established cryptographically. However, organisations that want to move to the Blockchain face numerous business and technical challenges. In this conceptual paper, we provide an overview of the Blockchain, how it affects strategic management, changes organisational design and requires a new form of corporate governance
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