Beyond Shareholder Primacy: Remaking Capitalism for a Sustainable Future by Stua

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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.

FORMATHardcover CONDITIONBrand New Author Biography

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.

Table of Contents

AcknowledgmentsForeword by Brian Griffith, Executive Chairman, Griffith FoodsPreface: The Sustainable Business Movement Is BrokenPrologue: Better Angels Versus Animal SpiritsPART I. The Past Is Prologue: Capitalism Has Been Remade Twice Before1. Capitalism's Heritage:Extraction Is Not Preordained2. The Next Capitalist Reformation:Sustainable Capitalism3. History Rhymes:Enduring Lessons for TodayPART II. Corporate Transformation: "Win-Win" Solutions Will No Longer Suffice4. The Great Race: Sustainable Capitalism's Challenge5. Re-Embedding Purpose6. Redesigning the Corporate ArchitecturePART III. Institutional Redesign: Business's Indispensable Role in System Change7. Reinventing Business Education8. Redefining the Meaning of Value Denouement: What Does It All MeanNotesIndex

Review

"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"Successfully presenting a strong case would be enough to make Hart's work a compelling and thoughtful read. But he also presents a useful roadmap for making this all happen. This combination of the historical, theoretical, and practical makes this book an invaluable and provocative resource for anybody interested in building the future. Using clear and concise language, Hart makes his argument both accessible to the reader and documented for the scholar or student interested in further research. He makes the reader consider his subject in different contexts, outcomes, timelines, and consequences—quite a lot for any single volume to accomplish! Essential."—S. A. Schulman, CHOICE

Details ISBN1503636216 Author Stuart Hart Pages 392 Publisher Stanford University Press Year 2024 ISBN-13 9781503636217 Format Hardcover Imprint Stanford Business Books,US Subtitle Remaking Capitalism for a Sustainable Future Place of Publication Palo Alto Country of Publication United States Audience Professional & Vocational Alternative 9781503638747 DEWEY 306.3420286 ISBN-10 1503636216 UK Release Date 2024-04-09 Publication Date 2024-04-09 US Release Date 2024-04-09 Illustrations 4 tables, 34 figures We've got this

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