Abstract
Voices from the business community, most evident in Europe and North America, form a chorus calling lately for a “more fair, inclusive, and sustainable ‘new capitalism”’. This is arguably due to public pressure and a changing zeitgeist there that attributes an important role in addressing social and environmental challenges that societies are facing to corporations. Two recent surveys in the USA report that a majority of respondents favor a more equitable form of capitalism, in which companies prioritize the interests of stakeholder, particularly employees. Moreover, people tend to be more loyal to those companies that follow a purpose which aligns with their core values. This is especially true for younger generations. As a result, we are witnessing the herald of a paradigm shift away from an exclusive focus on shareholders and profit maximization to a stakeholder-centric and purpose-driven business model. I present recent examples from Europe and North America that challenge the prevailing business paradigm and hold out the prospect of its transformation.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
https://www.blackrock.com/sg/en/about-us, retrieved on May 5, 2020.
- 2.
https://www.forbes.com/global2000/, retrieved on May 5, 2020.
- 3.
https://fortune.com/global500/, retrieved on May 5, 2020.
- 4.
https://aboutus.ft.com/en-gb/new-agenda/, retrieved on February 9, 2020.
- 5.
https://www.weforum.org/about/world-economic-forum, retrieved on February 9, 2020.
- 6.
https://www.weforum.org/about/our-members-and-partners, retrieved on February 9, 2020.
- 7.
https://www.sharedvalue.org, retrieved on February 10, 2020.
- 8.
https://sharedvalue.org.au, retrieved on February 10, 2020.
- 9.
https://www.svai.africa, retrieved on February 9, 2020.
- 10.
https://sharedvalue.in, retrieved on February 9, 2020.
- 11.
https://sharedvalueprojecthongkong.com, retrieved on February 9, 2020.
- 12.
It is worth noting that the authors use a different notion of “raison d’etre” here than in Nonaka et al. (2000): While in the latter they refer to knowledge creation as the reason for being, here they point to a purpose other than the quantitative increase of knowledge. They refer to a value proposition that empowers leaders to make the right decisions.
References
Aguinis, H., & Glavas, A. (2019). On corporate social responsibility, sensemaking, and the search for meaningfulness through work. Journal of Management, 45(3), 1057–1086.
Amis, J., Barney, J., Mahoney, J. T., & Wang, H. (2020). Why We Need a Theory of Stakeholder Governance - And Why This is a Hard Problem. Academy of Management Review, 45(3), 499–503.
Argyres, N., & McGahan, A. M. (2002). An interview with Michael Porter. Academy of Management Perspectives, 16(2), 43–52.
Bachmann, C., Habisch, A., & Dierksmeier, C. (2018). Practical wisdom: Management’s no longer forgotten virtue. Journal of Business Ethics, 153(1), 147–165.
Banerjee, S. B. (2008). Corporate social responsibility: The good, the bad and the ugly. Critical Sociology, 34(1), 51–79.
Bansal, P., & Song, H. C. (2017). Similar but not the same: Differentiating corporate sustainability from corporate responsibility. Academy of Management Annals, 11(1), 105–149.
Benioff, M. (2019). Marc Benioff: We need a new capitalism. https://nyti.ms/2nNJU2w, Retrieved on May 20, 2021.
Beschorner, T., & Hajduk, T. (2017). Creating shared value. a fundamental critique. In J. Wieland (Ed.), Creating Shared Value - Concepts, Experience, Criticism (pp. 27–38). Cham: Springer.
Blasi, P. (2006). The european university - towards a wisdom-based society. Higher Education in Europe, 31(4), 403–407.
Blount, S., & Leinwand, P. (2019). Why are we here? Harvard Business Review, 97(6), 132–139.
Bohlin, K. E. (2022). The Practical Wisdom Framework: A Compass for School Leaders. Journal of Education, 202(2), 156–165.
Brendel, D. (2014). How philosophy makes you a better leader. http://blogs.hbr.org/2014/09/how-philosophy-makes-you-a-better-leader/, Retrieved on May 20, 2021.
Bridoux, F., & Stoelhorst, J. W. (2022). Stakeholder governance: Solving the collective action problems in joint value creation. Academy of Management Review, 47(2), 214–236. https://doi.org/10.5465/amr.2019.0441
Buck, S. (2019). We need to solve the wisdom deficit in business. https://www.fastcompany.com/90400237/we-need-to-solve-the-wisdom-deficit-in-busines, Retrieved on May 20, 2021.
Burris, V. (1992). Elite policy-planning networks in the united states. Research in Politics and Society, 4, 111–134.
Business Roundtable (1997). Statement on corporate governance. Report, Business Roundtable.
Business Roundtable (2019). Statement on the purpose of a corporation. Report, Business Roundtable.
Christian Science Monitor (2019). Why corporations redefine progress. https://www.csmonitor.com/Commentary/the-monitors-view/2019/0819/Why-corporations-redefine-progress, Retrieved on May 20, 2021.
Christiansen, N. (2014). ”Creating Shared Value” is lost in translation. let’s reclaim it. https://www.greenbiz.com/blog/2014/06/19/CSV-controversy, Retrieved on May 20, 2021.
Comin, L. C., Aguiar, C. C., Sehnem, S., Yusliza, M.-Y., Cazella, C. F., & Julkovski, D. J. (2019). Sustainable business models: a literature review. Benchmarking: An International Journal, 27(7), 2028–2047.
Cone, C. (2020). 10 ways purposeful business will evolve in 2020. https://www.fastcompany.com/90450734/10-ways-purposeful-business-will-evolve-in-2020, Retrieved on May 20, 2021.
CONE Porter Novelli (2019). Undivided - 2019 Gen Z purpose study. Report, CONE Porter Novelli, New York.
Crane, A., Palazzo, G., Spence, L. J., & Matten, D. (2014). Contesting the value of “creating shared value”. California Management Review, 56(2), 130–153.
Cronin, B. (2017). The rise and decline of the business roundtable. In A. Salas-Porras & G. Murray (Eds.), Think tanks and global politics: Key spaces in the structure of power (pp. 133–158). New York: Palgrave Macmillan.
de los Reyes, G., Scholz, M., & Smith, N. C. (2017). Beyond the “win-win”: Creating shared value requires ethical frameworks. California Management Review, 59(2), 142–167.
Dembek, K., Singh, P., & Bhakoo, V. (2016). Literature review of shared value: A theoretical concept or a management buzzword? Journal of Business Ethics, 137(2), 231–267.
Dhingra, N., Nuttall, R., & Stone, M. (2019). Embedding purpose: fewer slogans, more action. https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-strategy-and-corporate-finance-blog/embedding-purpose-fewer-slogans-more-action, Retrieved on May 20, 2021.
DiMaggio, P. J., & Powell, W. W. (1983). The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 48(2), 147–160.
Ding, W., Choi, E., & Aoyama, A. (2019). Relational study of wise (phronetic) leadership, knowledge management capability, and innovation performance. Asia Pacific Management Review, 24(4), 310–317.
Donaldson, T. (2014). Shared values that are lost in translation. https://www.ft.com/content/bfdfff94-b34c-11e3-b09d-00144feabdc0, Retrieved on May 20, 2021.
Duell, D., Franco, I. B., Jimenez, D., & Lamont, S. (2022). Corporate purpose: An emerging approach to corporate sustainability. In I. Franco (Ed.), Corporate approaches to sustainable development (pp. 25–39). Singapore: Springer.
Dyllick, T. (2014). The opposing perspectives on creating shared value. https://www.ft.com/content/88013970-b34d-11e3-b09d-00144feabdc0, Retrieved on May 20, 2021.
Eccles, B. (2019). The statement of purpose and what you need to do. https://www.forbes.com/sites/bobeccles/2019/08/23/the-statement-of-purpose-and-what-you-need-to-do/, Retrieved on May 20, 2021.
Eccles, R. G., & Klimenko, S. (2019). The investor revolution. Harvard Business Review, 2019(May–June), 106–116.
Elkington, J. (1997). Cannibals with Forks. The triple bottom line of 21st century business. Oxford: Capstone Publishing Limited.
Epstein-Reeves, J. (2012). What is ’Creating Shared Value’? https://www.forbes.com/sites/csr/2012/06/04/what-is-creating-shared-value/, Retrieved on May 20, 2021.
Erden, Z., Von Krogh, G., & Nonaka, I. (2008). The quality of group tacit knowledge. Journal of Strategic Information Systems, 17(1), 4–18.
Evans, S., Vladimirova, D., Holgado, M., Van Fossen, K., Yang, M., Silva, E. A., & Barlow, C. Y. (2017). Business model innovation for sustainability: Towards a unified perspective for creation of sustainable business models. Business Strategy and the Environment, 26(5), 597–608.
Fernández-Gámez, M. á., Gutiérrez-Ruiz, A. M., Becerra-Vicario, R., & Ruiz-Palomo, D. (2019). The effects of creating shared value on the hotel performance. Sustainability (Switzerland), 11(6), 1784.
Financial Times (2019a). How to build a more responsible corporate capitalism. https://www.ft.com/content/8b282346-eaa3-11e9-85f4-d00e5018f061, Retrieved on May 20, 2021.
Financial Times (2019b). Investors should look beyond the bottom line. https://www.ft.com/content/30b3b8d2-f014-11e9-ad1e-4367d8281195, Retrieved on May 20, 2021.
Financial Times (2019c). Responsible capitalism requires new standards. https://www.ft.com/content/8a719968-f666-11e9-a79c-bc9acae3b654lfh, Retrieved on May 20, 2021.
Fink, L. (2019). A fundamantal reshaping of finance. https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter, Retrieved on May 20, 2021.
Firestone, K. (2019). How investors have reacted to the business roundtable statement. https://hbr.org/2019/11/how-investors-have-reacted-to-the-business-roundtable-statement, Retrieved on May 20, 2021.
Fockenbrock, D. (2020). Viele Unternehmensführer werden von Treibern zu Getriebenen. https://www.handelsblatt.com/meinung/kommentare/kommentar-viele-unternehmensfuehrer-werden-von-treibern-zu-getriebenen/25449992.html, Retrieved on May 20, 2021.
Font, X., Guix, M., & Bonilla-Priego, M. J. (2016). Corporate social responsibility in cruising: Using materiality analysis to create shared value. Tourism Management, 53, 175–186.
Freeman, R. E., Martin, K., & Parmar, B. (2007). Stakeholder capitalism. Journal of Business Ethics, 74(4), 303–314.
Friedman, M. (1962). Capitalism and freedom. Chicago: The University of Chicago Press.
Friedman, M. (1970). The social responsibility of business is to increase its profits. New York: The New York Times Magazine.
Geissdoerfer, M., Vladimirova, D., & Evans, S. (2018). Sustainable business model innovation: A review. Journal of Cleaner Production, 198, 401–416.
Goede, M. (2011). The wise society: Beyond the knowledge economy. Foresight, 13(1), 36–45.
González-González, J. M., Bretones, F. D., González-Martínez, R., & Francés-Gómez, P. (2019). “the future of an illusion”: a paradoxes of csr. Journal of Organizational Change Management, 32(1), 2–14.
Govindarajan, V., & Srivastava, A. (2020). We are nowhere near stakeholder capitalism. https://hbr.org/2020/01/we-are-nowhere-near-stakeholder-capitalism, Retrieved on May 20, 2021.
Greaves, C. E., Zacher, H., McKenna, B., & Rooney, D. (2014). Wisdom and narcissism as predictors of transformational leadership. Leadership and Organization Development Journal, 35(4), 335–358.
Griffith-Dickson, G. (2012). MBA curriculum needs to embrace theology. https://www.ft.com/content/b4006a00-7d7b-11e1-81a5-00144feab49a, Retrieved on May 20, 2021.
Gulati, R. (2022a). Deep purpose: The heart and soul of high-performance companies. Harper Business.
Gulati, R. (2022b). The Messy but essential pursuit of purpose. Harvard Business Review, (March–April), 44–52. https://hbr.org/archive-toc/BR2202.
Hering, R. (2009). Das Ende des Shareholder Value als Führungsprinzip. https://www.handelsblatt.com/meinung/gastbeitraege/gastkommentar-das-ende-des-shareholder-value-als-fuehrungsprinzip/3150812.html, Retrieved on May 20, 2021.
Hill, A. (2011). Sustainable growth is the new incarnation of capitalism. https://www.ft.com/content/ee99605a-7fa1-11e0-b9b0-00144feabdc0, Retrieved on May 20, 2021.
Hill, A. (2019). The limits of the pursuit of profit. https://www.ft.com/content/c998cc32-d93e-11e9-8f9b-77216ebe1f17, Retrieved on May 20, 2021.
Hoek, M. (2017). CSV and the SDGs - creating shared value meets the sustainable development goals. https://www.huffpost.com/entry/csv-and-the-sdgs-creating-shared-value-meets-the_b_58eb9ceae4b0acd784ca5a63, Retrieved on May 20, 2021.
Hurst, D. K. (2014). Is management due for a renaissance? https://hbr.org/2014/05/is-management-due-for-a-renaissance, Retrieved on May 20, 2021.
Ignatius, D. (2019). Corporate panic about capitalism could be a turning point. https://www.washingtonpost.com/opinions/even-the-business-moguls-know-its-time-to-reform-capitalism/2019/08/20/95e4de74-c388-11e9-9986-1fb3e4397be4_story.html, Retrieved on May 20, 2021.
InfluenceMap (2021). Climate Funds: Are They Paris Aligned? An analysis of ESG and climate-themed equity funds. Report, InfluenceMap CIC, London.
Intezari, A., & Pauleen, D. J. (2018). Conceptualizing wise management decision-making: A grounded theory approach. Decision Sciences, 49(2), 335–400.
Jasch, C., Moore, C., Lugger, S., & Ratzinger, V. (2014). Fallbeispiele zu measuring shared-value. IÖW Schriftenreihe, No. 31. Institut für ökologische Wirtschaftsforschung.
Jin, C.-H. (2018). The effects of creating shared value (CSV) on the consumer self-brand connection: Perspective of sustainable development. Corporate Social Responsibility and Environmental Management, 25(6), 1246–1257.
Jones, S., & Wright, C. (2018). Fashion or future: does creating shared value pay? Accounting & Finance, 58(4), 1111–1139.
JUST-capital (2019). A roadmap for stakeholder capitalism. just capital’s 2019 survey results. Report, JUST-capital, New York.
Kania, J., & Kramer, M. (2011). Collective impact. Stanford Social Innovation Review.
Karaian, J. (2020). And the winner of the 2020 World Economic Forum is … stakeholders. https://qz.com/1791153/winner-of-2020-world-economic-forum-in-davos-stakeholders/, Retrieved on May 20, 2021.
Kassoy, J. C. G. A., & Houlahan, B. (2019). Don’t believe the business roundtable has changed until its CEOs’ actions match their words. https://www.fastcompany.com/90393303/dont-believe-the-business-roundtable-has-changed-until-its-ceos-actions-match-their-words, Retrieved on May 20, 2021.
Key, S. (1999). Toward a new theory of the firm: a critique of stakeholder “theory”. Management Decision, 37(4), 317–328.
Kim, R. C. (2018). Can creating shared value (CSV) and the united nations sustainable development goals (UN SDGs) collaborate for a better world? insights from East Asia. Sustainability, 10(11), 4128.
Kragulj, F. (2019). The role of needs in creating shared value: A microfoundation analysis. In J. Dumay, J. Guthrie, & R. Munir (Eds.), Proceedings of the 16th International Conference on Intellectual Capital, Knowledge Management & Organisational Learning (ICICKM 2019) (pp. 218–224), Reading. Academic Conferences and Publishing International Limited.
Kramer, M. R., & Pfitzer, M. W. (2016). The ecosystem of shared value. Harvard Business Review, 94(10), 80–89.
Kramer, M. R., Pfitzer, M. W., & Mahne, H. (2020). How global leaders should think about solving our biggest problems. https://hbr.org/2020/01/how-global-leaders-should-think-about-solving-our-biggest-problems, Retrieved on May 20, 2021.
Kross, E., & Grossmann, I. (2012). Boosting wisdom: Distance from the self enhances wise reasoning, attitudes, and behavior. Journal of Experimental Psychology: General, 141(1), 43–48.
Laudal, T. (2018). Measuring shared value in multinational corporations. Social Responsibility Journal, 14(4), 917–933.
Lechleiter, J. (2014). Rethinking the role of the corporation – from philanthropy to shared value - forbes. http://www.forbes.com/sites/johnlechleiter/2014/12/09/rethinking-the-role-of-the-corporation-from-philanthropy-to-shared-value/, Retrieved on May 20, 2021.
Ligonie, M. (2018). The “forced performativity” of a strategy concept: Exploring how shared value shaped a gambling company’s strategy. Long Range Planning, 51(3), 463–479.
Luetge, C., & Von Liel, B. (2014). Why CSV makes sense for business schools. https://www.ft.com/content/f47575be-e280-11e3-a829-00144feabdc0, Retrieved on May 20, 2021.
Massingham, P. (2019). An aristotelian interpretation of practical wisdom: the case of retirees. Palgrave Communications, 5(1), 1–13.
Matinheikki, J., Rajala, R., & Peltokorpi, A. (2017). From the profit of one toward benefitting many – crafting a vision of shared value creation. Journal of Cleaner Production, 162, S83–S93.
McGregor, J. (2019). Group of top ceos says maximizing shareholder profits no longer can be the primary goal of corporations. https://www.washingtonpost.com/business/2019/08/19/lobbying-group-powerful-ceos-is-rethinking-how-it-defines-corporations-purpose/, Retrieved on May 20, 2021.
Mehera, A. R. (2017). Shared value literature review: Implications for future research from stakeholder and social perspective. Journal of Management and Sustainability, 7(4), 98–111.
Mendy, J. (2019). Supporting the creation of shared value. Strategic Change, 28(2), 157–161.
Menghwar, P. S., & Daood, A. (2021). Creating shared value: A systematic review, synthesis and integrative perspective. International Journal of Management Reviews, 23(4), 466–485.
Montgomery, N. (2019). Does capitalism need a radical redesign to become more inclusive? https://www.fastcompany.com/90448178/does-capitalism-need-a-radical-redesign-to-become-more-inclusive, Retrieved on May 20, 2021.
Mühlbacher, H., & Böbel, I. (2019). From zero-sum to win-win - organisational conditions for successful shared value strategy implementation. European Management Journal, 37(3), 313–324.
Murray, A. (2019). America’s CEOs seek a new purpose for the corporation. https://fortune.com/longform/business-roundtable-ceos-corporations-purpose/, Retrieved on May 20, 2021.
Nam, S. J., & Hwang, H. (2019). What makes consumers respond to creating shared value strategy? considering consumers as stakeholders in sustainable development. Corporate Social Responsibility and Environmental Management, 26(2), 388–395.
Nemes, N., Scanlan, S. J., Smith, P., Smith, T., Aronczyk, M., Hill, S., Lewis, S. L., Montgomery, A. W., Tubiello, F. N., & Stabinsky, D. (2022). An Integrated Framework to Assess Greenwashing. Sustainability, 14(8), 4431.
Nonaka, I. (1991). The knowledge-creating company. Harvard Business Review, 69(9), 96–104.
Nonaka, I., & Takeuchi, H. (1995). The knowledge-creating company: How Japanese companies create the dynamics of innovation. New York: Oxford University Press.
Nonaka, I., & Takeuchi, H. (2011). The wise leader. Harvard Business Review, 89(5), 58–67.
Nonaka, I., & Takeuchi, H. (2019). The wise company. How companies create continuous innovation. New York: Oxford University Press.
Nonaka, I., & Takeuchi, H. (2021). Humanizing strategy. Long Range Planning, 54, 102070.
Nonaka, I., & Toyama, R. (2005). The theory of the knowledge-creating firm: subjectivity, objectivity and synthesis. Industrial and Corporate Change, 14(3), 419–436.
Nonaka, I., & Toyama, R. (2007). Strategic management as distributed practical wisdom (phronesis). Industrial and Corporate Change, 16(3), 371–394.
Nonaka, I., Toyama, R., & Hirata, T. (2008). Managing flow: A process theory of the knowledge-based firm. Basingstoke/New York: Palgrave Macmillan.
Nonaka, I., Toyama, R., & Konno, N. (2000). Seci, ba and leadership: A unified model of dynamic knowledge creation. Long Range Planning, 33(1), 5–34.
Nonaka, I., & Yamaguchi, I. (2022). Synthesis of phenomenology and management studies. In Management by Eidetic intuition (pp. 191–214). Springer Nature.
Oswald, A. J. (1997). Happiness and economic performance. The Economic Journal, 107(445), 1815–1831.
Pirson, M., Aksoy, L., & Kabadayi, S. (2020). Social innovation and the future of business and business education. Humanistic Management Journal, 4, 119–124.
Porter, M. E. (1998). Competitive advantage: Creating and sustaining superior performance. New York: Free Press.
Porter, M. E., Hills, G., Pfitzer, M., Patscheke, S., & Hawkins, E. (2011). Measuring shared value how to unlock value by linking social and business results. Report, FSG.
Porter, M. E., & Kramer, M. R. (2006). Strategy and society: The link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12), 78–93.
Porter, M. E., & Kramer, M. R. (2011). Creating shared value. how to reinvent capitalism - and unleash a wave of innovation and growth. Harvard Business Review, 89(1/2), 62–77.
Preuss, L., & Cordoba-Pachon, J. (2009). A knowledge management perspective of corporate social responsibility. Corporate Governance: The international journal of business in society, 9(4), 517–527.
Rooney, D., & McKenna, B. (2005). Should the knowledge-based economy be a savant or a sage? wisdom and socially intelligent innovation. Prometheus (United Kingdom), 23(3), 307–323.
Rooney, D., & McKenna, B. (2009). Knowledge, wisdom and intellectual leadership: a question of the future and knowledge-based sustainability. International Journal of Learning and Intellectual Capital, 6(1/2), 52.
Roos, J. (2014). The renaissance we need in business education. https://hbr.org/2014/07/the-renaissance-we-need-in-business-education, Retrieved on May 20, 2021.
Roos, J. (2015). Build STEM skills, but don’t neglect the humanities. https://hbr.org/2015/06/build-stem-skills-but-dont-neglect-the-humanities, Retrieved on May 20, 2021.
Roos, J. (2017). Practical wisdom: making and teaching the governance case for sustainability. Journal of Cleaner Production, 140, 117–124.
Santos, L. S., & Serafim, M. C. (2022). Phronesis, Moral Judgment, and Ethical Decision Making: Experiences of Public Managers in the Area of Emergency Management. Organizações & Sociedade, 29(101), 414–442.
Sasse-Werhahn, L. F., Bachmann, C., & Habisch, A. (2020). Managing tensions in corporate sustainability through a practical wisdom lens. Journal of Business Ethics, 163(1), 53–66.
Schaefer, A., & Harvey, B. (2000). Environmental knowledge and the adoption of ready made environmental management solutions. Eco-Management and Auditing, 7(2), 74–81.
Schwab, K. (2019). Why we need the ’Davos Manifesto’ for a better kind of capitalism. https://www.weforum.org/agenda/2019/12/why-we-need-the-davos-manifesto-for-better-kind-of-capitalism/, Retrieved on May 20, 2021.
Serenko, A., & Dumay, J. (2015). Citation classics published in knowledge management journals. part I: Articles and their characteristics. Journal of Knowledge Management, 19(2), 401–431.
Shrivastava, P. (1995). The role of corporations in achieving ecological sustainability. Academy of Management Review, 20(4), 936–960.
Siebenhüner, B., & Arnold, M. (2007). Organizational learning to manage sustainable development. Business Strategy and the Environment, 16(5), 339–353.
Siltaoja, M. E. (2014). Revising the corporate social performance model - towards knowledge creation for sustainable development. Business Strategy and the Environment, 23(5), 289–302.
SquareWell Partners (2020). Making Corporate Purpose Tangible. Report, SquareWell Partners.
Staples, C. L. (2012). The business roundtable and the transnational capitalist class. In G. Murray & J. Scott (Eds.), Financial Elites and Transnational Business: Who Rules the World? (pp. 100–123). Cheltenham: Edward Elgar Publishing.
Stonehouse, G., & Snowdon, B. (2007). Competitive advantage revisited Michael Porter on strategy and competitiveness. Journal of Management Inquiry, 16(3), 256–273.
Stormer, F. (2003). Making the shift: Moving from ”ethics pays” to an inter-systems model of business. Journal of Business Ethics, 44(4), 279–289.
Strand, R. (2014). Scandinavia can be an inspiration for creating shared value. Financial Times.
Strand, R., & Freeman, R. E. (2015). Scandinavian cooperative advantage: The theory and practice of stakeholder engagement in Scandinavia. Journal of Business Ethics, 127(1), 65–85.
Stubbs, W., & Cocklin, C. (2008). Conceptualizing a ”sustainability business model”. Organization and Environment, 21(2), 103–127.
Szmigin, I., & Rutherford, R. (2013). Shared value and the impartial spectator test. Journal of Business Ethics, 114(1), 171–182.
Takeuchi, H. (2013). Wise leadership and wise capitalism. Kindai Management Review, 1, 17–27.
Taylor, C. R. (2019). What the business roundtable’s statement on the purpose of a corporation means for the study of corporate social responsibility in advertising. International Journal of Advertising, 38(8), 1067–1069.
The Economist (1994). Professor Porter PhD. https://www.economist.com/news/1994/10/08/professor-porter-phd, Retrieved on May 20, 2021.
Thomsen, B. (2019). Die Wirtschaft muss sich neu ausrichten, um nachhaltig erfolgreich zu sein. https://www.handelsblatt.com/meinung/gastbeitraege/expertenrat/thomsen/expertenrat-prof-bernd-thomsen-die-wirtschaft-muss-sich-neu-ausrichten-um-nachhaltig-erfolgreich-zu-sein/24129300.html, Retrieved on May 20, 2021.
Voltan, A., Hervieux, C., & Mills, A. (2017). Examining the win-win proposition of shared value across contexts: Implications for future application. Business Ethics, 26(4), 347–368.
Von Liel, B. (2016). Creating shared value as future factor of competition. Wiesbaden: Springer.
Vora, P. (2019). How to balance profits and purpose - FT readers weigh in. https://www.ft.com/content/8394a3ca-eb75-11e9-a240-3b065ef5fc55, Retrieved on May 20, 2021.
Walker, D. (2020). Ford Foundation’s Darren Walker: How to save capitalism from itself. https://www.fastcompany.com/90411391/ford-foundations-darren-walker-how-to-save-capitalism-from-itself, Retrieved on May 20, 2021.
Warhurst, R., & Black, K. (2017). What do managers know? wisdom and manager identity in later career. Management Learning, 48(4), 416–430.
Weaver, G. R., Trevino, L. K., & Cochran, P. L. (1999). Integrated and decoupled corporate social performance: Management commitments, external pressures, and corporate ethics practices. Academy of Management Journal, 32(5), 539–552.
Webb, J. (2016). The ’shared value’ of corporate social responsibility. https://www.ft.com/content/c2da5f27-4bdf-3bd0-ab30-b75e8bdc4097, Retrieved on May 20, 2021.
White, A. (2020). Will the Davos 2020 manifesto succeed where its predecessor failed? https://www.greenbiz.com/article/will-davos-2020-manifesto-succeed-where-its-predecessor-failed, Retrieved on May 20, 2021.
Whittaker, M. (2019). The american public agrees that capitalism is broken - and on how to fix it. https://www.fastcompany.com/90421667/the-american-public-agrees-that-capitalism-is-broken-and-on-how-to-fix-it, Retrieved on May 20, 2021.
Wiebe, F. (2009). Bitte mehr Kapitalismus! https://www.handelsblatt.com/meinung/kolumnen/wiebes-weitwinkel-bitte-mehr-kapitalismus/3228742.html, Retrieved on May 20, 2021.
Wieland, J. (Ed.) (2017). Creating shared value - Concepts, experience, criticism. Cham: Springer.
Winston, A. (2019a). The top sustainability stories of 2019. https://hbr.org/2019/12/the-top-sustainability-stories-of-2019, Retrieved on May 20, 2021.
Winston, A. (2019b). What 1,000 CEOs really think about climate change and inequality. https://hbr.org/2019/09/what-1000-ceos-really-think-about-climate-change-and-inequality, Retrieved on May 20, 2021.
Wójcik, P. (2016). How creating shared value differs from corporate social responsibility. Journal of Management and Business Administration. Central Europe, 24(2), 32–55.
World Economic Forum (2009). The World Economic Forum: A partner in shaping history. the first 40 years. 1971–2010. Report, World Economic Forum, Davos.
World Economic Forum (2020). Davos Manifesto 2020 : The universal purpose of a company in the fourth industrial revolution. Report, World Economic Forum, Davos.
Wu, T. (2020). The revolution comes to davos. https://nyti.ms/2viHMTN, Retrieved on May 20, 2021.
Zack, M. H. (2003). Rethinking the Knowledge-Based Organization. MIT Sloan Management Review, 44(4), 67–71.
Zollo, M., & Mele, R. (2013). The shared value debate: Academic visions on corporate sustainability. Milano: EGEA.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2023 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Kragulj, F. (2023). Calls from Practice. In: Knowledge Management and Sustainable Value Creation. Knowledge Management and Organizational Learning, vol 11. Springer, Cham. https://doi.org/10.1007/978-3-031-12729-8_2
Download citation
DOI: https://doi.org/10.1007/978-3-031-12729-8_2
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-031-12728-1
Online ISBN: 978-3-031-12729-8
eBook Packages: Business and ManagementBusiness and Management (R0)