Publications
Publications
- 2015
- Corporate Stewardship
Leading Socially Responsible, Value-Creating Corporations
By: Daniel A Brown, Rakesh Khurana and James O'Toole
Abstract
We explore the role of the corporate leader in creating value for stakeholders throughout three eras: one of naïve idealism, one of naïve cynicism, and an emerging era of rugged idealism. We explain how the role of the corporate leader and society's perceptions of this role have changed and how leaders may now be able to create shared value for all stakeholders. Cases of leaders who created value or merely distributed value in each era are explored. Although there is no framework yet for how leaders can create value for all stakeholders, we note that a key theme amongst the companies illustrated is that each was able to align stakeholders' interests to a degree that made the satisfaction of multiple needs not only possible, but profitable. We conclude by emphasizing the role of business schools in socializing business leaders and how these schools, by incorporating a more stakeholder-centric approach in their curricula, research, and culture, can develop leaders who are willing and able to address the diverse values and interests of their companies' stakeholders.
Keywords
Stakeholder Management; Value; Shared Value; Institution; Business School; Stakeholder Engagement; Value Creation; Leadership; Corporate Social Responsibility and Impact; Alignment; Business Education; Business and Stakeholder Relations
Citation
Brown, Daniel A., Rakesh Khurana, and James O'Toole. "Leading Socially Responsible, Value-Creating Corporations." In Corporate Stewardship: Achieving Sustainable Effectiveness, edited by Susan Albers Mohrman, James O'Toole, and Edward E. Lawler. Sheffield, UK: Greenleaf Publishing, 2015.