Value Shift: Why Companies Must Merge Social and Financial Imperatives to Achieve Superior Performance - Hardcover

Paine, Lynn

3.73

11 ratings by Goodreads

9780071382397: Value Shift: Why Companies Must Merge Social and Financial Imperatives to Achieve Superior Performance

Hardcover

ISBN 10: 0071382399 ISBN 13: 9780071382397

Publisher: McGraw-Hill Education, 2002

View all copies of this ISBN edition:

Pick up a copy of the day's business section. Chances are you'll read about a corporation in jeopardy due to reckless standards or practices - or one that's getting wise and taking a closer look at its impact upon the world. From Ford and Bridgestone to Sotheby's and Christie's; from Microsoft to McDonnell Douglas, managers and directors are coming to understand that for the long-term health of their companies, it's not enough to make a good profit. They have to make that profit responsibly. In Value Shift, renowned Harvard Business School professor Lynn Sharp Paine translates real-world experience as a corporate consultant into a powerful case for this new standard of performance, never losing sight of the fact that healthy companies must remain profit-driven. By building a corporate conscience, Paine argues, managers can anticipate certain "gray area" dilemmas - and by helping to avoid the wrong responses to those dilemmas, take an active role in strengthening their company or divisions. As practical as it is even-handed, Value Shift will take its place next to Built to Last and In Search of Excellence on the bookshelves of managers around the globe. In taking a hard-headed look at the ways in which values do - and do not - enhance financial performance, this book differentiates itself from two dominant streams of writing in business ethics. The first is oriented toward proving the financial merits of ethics. The second assumes that the financial question is irrelevant. By synthesizing both sets of concerns - economic and ethical - Value Shift presents an approach to management that is not only more realistic, but also more useful.

"synopsis" may belong to another edition of this title.

From the Publisher:

How bosses create poor performers--and how to reverse the cycle.

From the Back Cover:

Do values and social responsibility have any place in the profit-driven corporate world? Just ask the employees and stockholders of Enron. Even before the Enron disaster, however, the business sections of newspapers were filled with stories about companies such as Bridgestone, Sotheby's, and Microsoft, whose reckless or irresponsible practices and standards had jeopardized both their profits and their futures.

In Value Shift, renowned Harvard Business School Professor Lynn Sharp Paine reveals that corporate social responsibility makes for more than good public relations; it is a powerful tool for achieving superior performance and generating greater profits. She takes a realistic look at the new role that private industry will play in public service in the years ahead and explores the increasing importance of corporate values in maintaining the long-term profitability of companies.

Professor Paine describes how, recent news reports notwithstanding, many companies in the United States and around the world have already placed increased emphasis on values and corporate citizenship. She explains the motivations behind this turn to values, analyzes its impact on management practice, and presents guidelines for developing a "corporate conscience."

The most striking feature of this eye-opening expos� is its hardheaded appraisal of the growing body of evidence showing that a values-based orientation is very good for business. It also offers pointers on how managers can anticipate and avoid "gray area" dilemmas, formulate conscientious responses to incidents that will also serve the organization's goals and interests, and take a more active role in strengthening their company's public image.

Companies that adhere to basic values benefit from more effective risk management, more efficient organizational functioning, increased market attractiveness, and greater investor confidence. Value Shift provides the tools and techniques needed to instill the values that create more responsible, more accountable, and more profitable organizations. It is the ultimate resource for corporate managers who want their companies to do well while doing good.

Lynn Sharp Paine, Ph.D., is John G. McClean Professor and Novartis Fellow at the Harvard Business School. She consults with Fortune 100 companies worldwide on leadership and values, and her articles have appeared in Harvard Business Review, Journal of Business Ethics, and other major business magazines and journals.

"Lynn Paine has an optimistic analysis of the need for--and the value of--bringing ethical values into business decision-making. The 'meltdown' of so many high-flyers reecntly suggests that lesson had been lost on too many companies during the boom years. The time has come to take account of what she writes."--Paul A. Volcker

"This book presents a way of broadening the role of the corporation in our society, an interesting and exciting role. It's a good read for young leaders in all walks of life."--John C. Whitehead, former Chairman, Goldman Sachs

"Value Shift provides a timely and compelling argument for why companies must incorporate values into their strategies--that no one in business can afford to ignore."--Daniel Vasella, Chairman + CEO /Novartis AG

A breakthrough look at the new value of values

To survive and thrive, the modern corporation must be more than a profit machine. A growing body of evidence indicates that corporate citizenship, responsibility, and accountability are becoming as vital to the bottom line as an effective business model. Value Shift makes a strong case for the financial merits of social responsibility and explores the increasing importance of corporate values in maintaining the long-term profitability of companies. It also offers strategies for implementing an enterprise-wide value system and demonstrates ways in which a value-positive corporate culture can actually increase profits through better risk management, improved organizational functioning, increased shareholder confidence, and an enhanced public image.

"About this title" may belong to another edition of this title.