Financialization as `Investification': Innovation Work and Portfolio Work Organization

Autor(en): Holst, Hajo 
Stichwörter: CRISIS; Externalization; Fincancialization; MARKET; Research & Development; SHAREHOLDER VALUE; Sociology; Sociology of Conventions; Sociology of Economy; Sociology of Organization; Sociology of Work
Erscheinungsdatum: 2016
Herausgeber: WALTER DE GRUYTER GMBH
Journal: ZEITSCHRIFT FUR SOZIOLOGIE
Volumen: 45
Ausgabe: 3
Startseite: 145
Seitenende: 161
Zusammenfassung: 
The paper explores the effects of financialization on the organization of innovation work in non-financial corporations. Evidence from a car company's research & development division suggests that a new form of work organization is emerging, characterized by two components: the quasi-permanent utilization of external workers from engineering firms in the core areas of R&D, and a variable division of work between internal and external employees. Using a framework inspired by the sociology of conventions the analysis reveals that underlying the emergent portfolio work organization is a new taxonomy of work which itself is the result of an hitherto undescribed effect of financialization, namely the `investification' of organizational decisions: increasingly more internal decisions are framed as investments and evaluated according to their returns. This development is exemplified by the objective of the new organization of work, which is to assign only those tasks to the corporation's core employees which are expected to increase its financial value.
ISSN: 03401804
DOI: 10.1515/zfsoz-2015-1009

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