Under conditions of widespread institutional dysfunction, formal trappings can be disconnected from the core competence with which they are supposedly associated. Sometimes they can even begin to anti-correlate. But assuming the institution in question is not in such a dysfunctional context, the formal trappings of an organization actually do... See more

Institutions are sets of norms and rules that we use to coordinate disparate humans. They guide us towards our vision for the future codified in our values.