ABSTRACT
Business networks have various governance needs that are not adequately met by discrete and ex ante contracts. These are ongoing relations that infuse economic and social interdependencies and commitments that are shaped by different contexts of embeddedness, institutional contexts and micro-foundations in economic activity. We study a range of network characteristics driven by different needs and argue that there needs to be a recognition of the ‘organisational and governance’ perspective of business networks that can give rise to a more clearly articulated and authoritative framework for meeting networks’ governance needs. Networks need both collective tenets and autonomy for participants, as well as different extents of formality and informality in terms of their governing and management structures and processes. We believe that a framework for choice sets is appropriate and can promote learning and experimentation in a more open-minded manner by networks and their participants.
