The conflict between the two father-figures, Carl Fox and Gordon Gecko represent the conflict between the old and new American dreams respectively. Bud Fox’ s belief that “ there’ s no nobility in poverty” as opposed to Carl Fox’ s view that a man’ s success is not be measured by the “ size of his wallet” highlights the disparity in the underlying beliefs that condition the changed American dream where “ what’ s worth doing is worth doing for money” (Gecko in Wall Street). Organizational identity: According to Albert and Whetten (1985), organizational identity is that aspect of an organization that is enduring and distinctive, comprising the beliefs and values that are shared by the top managers and at the individual level; it is a representation of the cognitive image held by a member of the organization.
This has been distinguished through research as being distinct from the organizational image which is the external representation of the organization to outsiders (Dutton et al, 1994). As Ashforth and Mael (1989) have pointed out, member identity and organizational identity are closely linked and Gioia observes that the concept of organizational identity “ develop[s] over time in interaction with internal and external parties. ” (Gioia, 1998:45).
In the film Wall Street, the changing identity of Bud Fox is a central aspect of the film, wherein the beliefs and value systems of Gecko’ s circle slowly begin to override the beliefs he has been raised with. It is the interaction between the managers and the stakeholders of a firm that fashions its organizational identity, it is a management action that creates the desired image among stockholders. (Elsbach and Sutton, 1992). The film Wall Street represents that corporate identity so defined is inextricably a function of the financial worth of a Company.
Corporate ownership versus control: Demsetz and Lehn (1985) have argued that the actual structure of corporate ownership within a firm varies in a manner that is in step with value maximization. They undertook a study of 511 U. S. corporations and found that firm size and instability as far as profit rates are concerned are significant factors in determining ownership. Large financial institutions have a diffused ownership structure wherein those purportedly in control of the organizations in terms of ownership may not necessarily be in a position to exercise control as far as corporate decisions are concerned.
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