Overview

"This remarkable book is a call to consciousness-and action-for individuals, organizations, communities, and nations. Beyond Shareholder Primacy"" argues that our current Milton Friedman-style ""shareholder primacy capitalism,"" as taught in business schools and dogmatically embraced around the world, has become dangerous for society, the climate, and the planet, and economically unnecessary. But there are surprising reasons for hope-from the history of capitalism itself. Beyond Shareholder Primacy argues, that capitalism has reformed itself twice before and is poised for a third major reformation. Retelling the origin story of capitalism from the 15th century to the present, Hart argues that a more radical, more sustainable, more just capitalism is possible, and even likely, in our lifetime. Hart goes on to describe what it will take to move beyond capitalism's present worship of ""shareholder primacy,"" including reforms to all major economic institutions. A key requirement is eliminating the ""externalities"" (or collateral damage) of our current shareholder capitalism. Sustainable capitalism will explicitly incorporate the needs of society and the planet, include a financial system that allows leaders to prioritize the planet, reorganize business schools around sustainable management thinking, and enable banks corporations not just to stop ignoring the damage they cause, but actually begin to create positive impact."

Full Product Details

Author:   Stuart Hart
Publisher:   Stanford University Press
Imprint:   Stanford Business Books,US
ISBN:  

9781503636217

ISBN 10:   1503636216
Pages:   392
Publication Date:   15 April 2024
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us.

Table of Contents

"Acknowledgments Foreword by Brian Griffith, Executive Chairman, Griffith Foods Preface: The Sustainable Business Movement Is Broken Prologue: Better Angels Versus Animal Spirits PART I. The Past Is Prologue: Capitalism Has Been Remade Twice Before 1. Capitalism's Heritage:Extraction Is Not Preordained 2. The Next Capitalist Reformation:Sustainable Capitalism 3. History Rhymes:Enduring Lessons for Today PART II. Corporate Transformation: ""Win-Win"" Solutions Will No Longer Suffice 4. The Great Race: Sustainable Capitalism's Challenge 5. Re-Embedding Purpose 6. Redesigning the Corporate Architecture PART III. Institutional Redesign: Business's Indispensable Role in System Change 7. Reinventing Business Education 8. Redefining the Meaning of Value Denouement: What Does It All Mean Notes Index"

Reviews

"""This book is a brilliant and critically needed masterpiece. Hart provides a sweeping and compelling case for why we must urgently reform our capitalist system, and offers a practical roadmap for how this transformation can proceed.""—Paul A. Laudicina, Chairman Emeritus, A.T. Kearney; Founder, Global Business Policy Council ""We need a capitalist reformation. Shareholder primacy, the source code of capitalism, is a dead end. Stuart L. Hart shows us a path to upgrade the operating system of capitalism so that it is fit for a higher purpose than profit maximization.""—Jay Coen Gilbert, Cofounder, B Corporation movement; Founding CEO, Imperative 21 ""Hart's compelling analysis of capitalism's history shows us that the past forty years of shareholder primacy are an outlier. We can and must transform the way we do business to build companies which thrive by serving their many stakeholders - including planet Earth. This is capitalism for the billions, not just the billionaires.""—Paul Polman, former CEO, Unilever; co-author of Net Positive ""This book is a call to action. It gives students and emerging leaders the blueprint they need to create a truly sustainable capitalism.""—Karen Johns, CEO, Net Impact ""An extraordinary exploration of business thinking that goes beyond the boundaries of profit and purpose. Leaders now have a path to achieve social and environmental goals, in addition to financial success. A must-read for executives, entrepreneurs, and anyone passionate about building a better, more sustainable future.""—Scott Tew, Vice President, Sustainability, Trane Technologies"

Author Information

Stuart L. Hart is Professor Emeritus at Cornell University's Johnson School of Management, where he founded the Center for Sustainable Global Enterprise, and Professor in Residence at the University of Michigan's Erb Institute for Global Sustainable Enterprise. He is also co-founder and former Director of The Sustainable Innovation MBA program at the University of Vermont's Grossman School of Business. A Fortune 500 consultant, Hart is one of the world's top authorities on the implications of environment and poverty for business strategy. He is the author of numerous publications, including the influential book, Capitalism at the Crossroads, 3rd Edition: Next Generation Business Strategies for a Post-Crisis World.

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