Managers after the era of organizational restructuring: towards a second managerial revolution?

Managers' careers and career orientations have changed significantly since the era of organizational change that began around 20-30 years ago. This article focuses on how managers have responded to these changes. It suggests a significant change in the kinds of 'capital' that managers mobilize, and the uses to which they put it. At least some managers now mobilize a form of 'social capital' in the form of reputations that are grounded in informal networks. However, this reputational capital can be difficult to stabilise and therefore risky to hold. Managers therefore attempt to convert it into wealth - economic capital. The article illustrates these arguments using interview data from a longitudinal study of Australian managers.