Business - know your history

Professor Per Hansen from the Center for Business History has been awarded the American Newcomen Article Prize for the best article in 2007 in the American journal
“Enterprise and Society”.

The article, which is about the transformation of Danish savings banks during the period 1965–1990, was published in the December issue.

Professor Per Hansen talks about the article:

- The article is principally about the fact that historical records really do influence organisations’ chances to implement strategic changes. The records can both be used as a resource and as a restriction in the organisation, says Per Hansen. He elaborates:

- The records define people’s understanding of themselves and the organisation they work in, and when external changes put pressure on the organisations, and new strategies are needed, the records can stand in the way. This means that historical anecdotes are vital to the organisational culture in a company and in other organisations. This is why it is important for companies and executives to know and understand the business’s predominant historical anecdotes – not least when strategic and organisation changes are needed.

The title of Per Hansen’s prize-winning article is
“Organizational Culture and Organizational Chance: The Transformation of Savings Banks in Denmark, 1965–1990”

The Newcomen Article Prize is sponsored by the Newcomen Society. Read more here: ( www.newcomen.org )