| The enterprise is constituted by individual basically, and becoming a continuous contractual organization depending on self-conscious behavior which lead by personal rationality. With individual being certainly the key and center, institutions become a self-maintenance system depending on the foundation of personal rationality. This by all means makes enterprise, institutions, individual and its rationality indivisible. However, the narrow self-interest personal rationality and opportunism behavior accordingly promote the development of enterprise and the foundation of institutions into predicament inevitably. As a result, the innovation of our nation's modern enterprise institutions should definitely pay attention to this particular object, establish the stable foundation stone of personal rationality for the development of enterprise and the effective implement of institutions through the transformation of individual's narrow self-interest rationality. According to this, with the main line of individual and its rationality, this article firstly reviews the evolution and the nature of the firm, institutions, the connection and interaction between institutions and culture, personal rationality deeply, clarifies the logic connection among firm, institutions, and personal rationality. Then, this article carries on the research on personal rationality transformation based on game theory analysis. After that, based on the implement of personal rationality transformation, this article carries on the innovation of our nation's modern enterprise institutions for state-owned enterprises, which is the research on marketing embodiment of common property right. In the end, this articlecorroborates the core standpoint through analyzing the successful experience of some typical case.The personal rationality transformation which this article puts forward and carries out intentionally, is to transform personal rationality from the narrow self-interest to reasonable self-interest which is based on self-interest but also looks for mutual benefit that can realize the high-efficiency equilibrium. The key point of the reasonable self-interest rationality is that pursuing the self interests is not just calculating for oneself, but the rational weighing which considers others' interest, collective interest and self-interest synthetically. Based on the implement of personal rationality transformation, this article just aims at establishing the stable foundation stone of personal rationality for the research on marketing embodiment of common property right of state-owned enterprises, which is the innovation of our nation's modern enterprise institutions. |