Hybrids: where are we?

Abstract We owe Williamson for the formal introduction of hybrid organizations as essential building blocks in ‘the institutional structure production’. The analysis these arrangements, which culminated Mechanisms Governance , provided a unified approach to variety setting within transactions are embedded, opening new perspective on cornerstone modern economies. This essay explores past, present, and future this breakthrough. First, it reviews progressive integration hybrids category their own classic ‘make-or-buy’ model, inserting an ‘intermediate’ form different from markets that adaptation cannot be done unilaterally ‘unified organizations’ by fiat. Second, shows how initial characterization hybrids, besides providing coherent empirical research available at time, gave powerful impulse contributions, identifying more rigorously fundamental features throwing light why firms go hybrid, explicating governance chosen. Last, offers insights program remains work progress, delineating terrains explore puzzles solve.