Compared to the major impact Jacques Lacan’s theory of psychoanalysis has had on the widest range of disciplines in the arts and humanities, and in the social sciences, its reception in organizational studies has been relatively slow. This is often explained with reference to the fact that Lacan’s writings are difficult, and that he himself was never concerned with the study of organizations. In this paper, it is demonstrated that Lacan did have a profound interest in organizational life, and that it prompted him to formulate a number of key principles for establishing an “alternative” organizational structure, in which hierarchical authority is balanced against a communal, libertarian and solidaristic system of exchange. It is shown how these principles are indebted to Bion’s work with leaderless groups, and to Bion’s “first Northfield experiment” from the early 1940s. During the 1960s Lacan endeavoured to integrate these ideas in what he designated as a “circular organization”, which would operate on the basis of a series of small working groups called cartels, and on positions of “suspended authority”. It is also argued that Lacan’s eventual dissolution of his own School may not have constituted a simple case of organizational failure, but a necessary act of transformational change and permutation. The essay concludes with the proposition that a proper appreciation of Lacan’s significance for organizational studies should start with a critical analysis of his own contributions to the study of organizational life.