Interest in the study of institutions in social sciences reappeared in the last decades of the 20th century. This interest was inspired by the rejections of economic tenets of the Neoclassic Theory and of Institutionalism or Old Institutionalism and was motivated by the certainty that institutional arrangements and social processes are key to having a complete understanding of the economic, political, social and cultural phenomena. Institutions are then regarded as basic elements in the construction of life in community. From this perspective, Neoinstitutionalism helps study the administrative phenomena in a systemic and contextual way and establishes relations between cultural and social factors and present or past forms of human associations. Thus, the neoinstitutional approach enriches the understanding of organizational processes. On this basis, this paper illustrates the origins of Neoinstitutionalism from economic and sociological perspectives and relates the contributions of this theory to 21st century business administration through the use of the notion of enterprise field.