Business Commons^™

Value Shift: Why Companies Must Merge Social And Financial Imperatives To Achieve Superior Performance, Carol M. Sanchez

Peer Reviewed Articles

In Value Shift. Lynn Sharp Paine argues that modern corporations are now expected to meet moral, as well as financial, performance standards to be considered superior performing firms. Paine calls this a return to, or a shift in, values that now emphasize ethics, culture, environmental standards, product safety, and community investment—what students of management might call a broad stakeholder model of the firm. The author, who is professor of leadership and values at the Harvard Business School, reflects on the recent crises in corporate America that began in 2001 with the Enron scandal. These disgraceful misdeeds and the public reaction …