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Value Creation for Owners and Directors: A Practical Guide on How to Lead your Business
by Massimo Massa Kai Taraporevala Ludo Van der HeydenThis book deals with a much understudied and poorly understood aspect of business: the role of owners and boards in value creation. While there is abundant guidance on value creation for publicly listed firms and their managers, the role played by owners, and their corporate directors, in value creation and governance has been overlooked. This book aims to fill that gap. • The first part deals with the mission, and the values and rules pertaining to the governance of the business. These structural elements are fundamental for owners to get right as they pave the way to value creation, or its opposite. They refer to “WHAT” owners have to do. Another element is the formation of the three boards that govern owner-led firms: the owners board, the board of directors, and the management board. • The second part addresses the relational elements that owners must master to effectively manage the social and emotional dynamics in their enterprise. It deals with the “HOW” of ownership, namely the leadership process that lies at the heart of board work. This process ensures alignment across the three boards and also with stakeholders that is vital to realizing owners’ value creating aims. • Thirdly, the book explores the histories, defining experiences, and talents that define owners and shape their enterprise. It concerns the “WHOM,” namely the identities of owners. It explores the diversity of ownership styles and identifies the critical personal transitions owners must make in their leadership quest. This book offers a practical guide for business aiming for value creation. It also should be of interest to directors and executives of all firms with identifiable ownership, such as entrepreneurial, family, state-owned and private equity firms.
Value Economics
by M. R. Griffiths J. R. LucasThe last financial crisis revealed a gap between business practice and ethics. In Value Economics, Griffiths and Lucas examine some of the reasons for this ethical gap and discuss the resulting loss of confidence in the financial system. One of the reasons has been hazy or inadequate thinking about how we value economic enterprises. With the close link between the creation of value and business ethics in mind, this book proposes that economic value should become the basic metric for evaluating performance in the creation of value, and for establishing fair and reasonable standards for executive compensation. Value Economics considers a number of rational philosophical principles for business management, on which practical codes of business ethics can be based. As the creation of value has moral implications for economic justice, the book reaffirms the argument for economics as a moral science, and seeks, within the context of proposed changes in the regulation and control of financial services, to answer the following question: will things really change after the last financial crisis?
Value Economics: The Ethical Implications of Value for New Economic Thinking
by M. R. Griffiths J. R. LucasThe last financial crisis revealed a gap between business practice and ethics. In Value Economics, Griffiths and Lucas examine some of the reasons for this ethical gap and discuss the resulting loss of confidence in the financial system. One of the reasons has been hazy or inadequate thinking about how we value economic enterprises. With the close link between the creation of value and business ethics in mind, this book proposes that economic value should become the basic metric for evaluating performance in the creation of value, and for establishing fair and reasonable standards for executive compensation. Value Economics considers a number of rational philosophical principles for business management, on which practical codes of business ethics can be based. As the creation of value has moral implications for economic justice, the book reaffirms the argument for economics as a moral science, and seeks, within the context of proposed changes in the regulation and control of financial services, to answer the following question: will things really change after the last financial crisis?
Value Incommensurability: Ethics, Risk, and Decision-Making (Routledge Studies in Ethics and Moral Theory)
by Anders HerlitzIncommensurability is the impossibility to determine how two options relate to each other in terms of conventional comparative relations. This book features new research on incommensurability from philosophers who have shaped the field into what it is today, including John Broome, Ruth Chang and Wlodek Rabinowicz. The book covers four aspects relating to incommensurability. In the first part, the contributors synthesize research on the competing views of how to best explain incommensurability. Part II illustrates how incommensurability can help us deal with seemingly insurmountable problems in ethical theory and population ethics. The contributors address the Repugnant Conclusion, the Mere Addition Paradox and so-called Spectrum Arguments. The chapters in Part III outline and summarize problems caused by incommensurability for decision theory. Finally, Part IV tackles topics related to risk, uncertainty and incommensurability. Value Incommensurability: Ethics, Risk, and Decision-Making will be of interest to researchers and advanced students working in ethical theory, decision theory, action theory, and philosophy of economics.
Value Making in International Economic Law and Regulation: Alternative Possibilities
by Donatella AlessandriniThis book examines the contemporary production of economic value in today’s financial economies. Much of the regulatory response to the global financial crisis has been based on the assumption that curbing the speculative ‘excesses’ of the financial sphere is a necessary and sufficient condition for restoring a healthy economic system, endowed with real values, as distinct from those produced by financial markets. How, though, can the ‘intrinsic’ value of goods and services produced in the sphere of the so-called real economy be disentangled from the ‘artificial’ value engineered within the financial sphere? Examining current projects of international legal regulation, this book questions the regulation of the financial sphere insofar as its excesses are juxtaposed to some notion of economic normality. Given the problem of neatly distinguishing these domains – and so, more generally, between economy and society, and production and social reproduction – it considers the limits of our current conceptualization of value production and measurement, with specific reference to arrangements in the areas of finance, trade and labour. Drawing on a range of innovative work in the social sciences, and attentive to the spatial and temporal connections that make the global economy, as well as the racial, gender and class articulations of the social reproductive field within it, it further asks: what alternative arrangements might be able to affect, and indeed alter, the value-making processes that underlie our current international regulatory framework?
The Value of Values: How Leaders Can Grow Their Businesses and Enhance Their Careers by Doing the Right Thing (Management on the Cutting Edge)
by Daniel AronsonHow business leaders can grow profits and competitive advantage by doing the right thing.Acting on values—doing good for the benefit of all—can substantially benefit the bottom line, but many business leaders mistakenly believe that doing the right thing lowers profits. This belief is the greatest barrier holding businesses back from being more financially and competitively successful—and delivering more good for the world. Not only can it be a winning business strategy to act on values, as Daniel Aronson suggests in The Value of Values, but it is also a savvy choice, increasing a company&’s power, profit, and competitive advantage—in many cases with little additional investment or risk.It starts with seeing what others miss. Using extensive research and real-world calculations, Aronson demonstrates that the &“submerged value&” of initiatives such as taking bold action to combat climate change, helping people find jobs, or creating an open, inclusive work environment is normally 4 to 10 times more than initially believed. Calculating and capturing the true business benefit of acting on values provides a much-needed update to the sustainability and responsibility playbook. Even more important, it shows executives how to harness the value of values to improve profitability, acquire customers, and turbocharge their own careers.Written by a measurement pioneer and one of the world&’s foremost experts on making ethical business count, The Value of Values trains leaders to respond smartly and credibly to today&’s challenges, transforming how business can and should be done.
The Value Orientations of Buddhist and Christian Entrepreneurs: A Comparative Perspective on Spirituality and Business Ethics (Studies in Buddhist Economics, Management, and Policy)
by Gábor KovácsThis book is a comparative analysis of the value orientations of Buddhist and Christian entrepreneurs and how these values impact business. The chapters review and analyze the concepts of Buddhist economics and the social teaching of the Roman Catholic Church. The value orientations of Buddhist and Christian entrepreneurs are described by irreducible core values that correspond to the ontological conception, the procedural dimension, and the “other directedness” of a spiritual value commitment in business. The book includes the reflections of Buddhist and Christian entrepreneurs about business spirituality, profit, the temporal perspectives of business, and stakeholder management. The cases testify that a spiritual value orientation can contribute to creating genuine ethical commitment. The findings and the examples can encourage business scholars and practitioners to stop considering ethics as an instrument in the service of profit and serve as inspiration for integrating spirituality into business in a profound way. This book will be of interest to scholars studying business ethics, workplace spirituality and faith at work.
Value Shift: Why Companies Must Merge Social and Financial Imperatives to Achieve Superior Performance
by Lynn Sharp PaineThis book is about changing notions of corporate performance--what it is and how to achieve it. Although addressed principally to those who want to build high-performing companies--managers, executives, directors, entrepreneurs--its message has relevance for a much wider audience.
Values: How to Bring Values to Life in Your Business
by Ed MayoWhat matters to us? One way of answering that question is through the lens of values, which have a powerful influence on our attitudes and behaviours. Yet it can be difficult for businesses to realize the true potential of values, which is to engage staff, customers and suppliers in an emotional way that touches on their own core motivations. Drawing on a range of case studies worldwide, including “profit with purpose” businesses such as co-operatives, this short guide reveals how to make a success of values. By unpacking what we mean by values and ethics, and setting out a series of practical approaches, Ed Mayo presents how values can become a natural part of commercial life. This book identifies both the pitfalls and the potential of bringing values into the heart of an organization, from a bank that responds to an ethical crisis to a fast-growing worker co-operative founded on the values of equality. The values that guide your business are not necessarily the ones that are written down, or that you would expect. There is no one right or wrong set of values, but there is power and potential in making the most of the values that are right for the business you are in. By reading Values: How to Bring Values to Life in Your Business, you will find out more about the business that you are, and the business that you could be.
Values: Why We Need Them Although They Don’t Exist
by Andreas Urs SommerIn his book, Andreas Urs Sommer reflects on the question of what it really means when everybody’s appealing to values, all the time – the question, fundamentally, of what values actually are. Values explores both of these points, arriving at two intriguing suggestions: Maybe what we call values are just a set of elaborate fictions. And maybe those fictions serve some very important purposes.
Values and Behavior
by Sonia Roccas Lilach SagivWhat are values? How are they different from attitudes, traits, and specific goals? How do our values influence our behavior, and vice versa? How does our culture and environment impact the relationship between values and behavior? These questions and more are rigorously examined by prominent and emerging scholars in this significant volume Values and Behavior: Taking A Cross Cultural Perspective. Personal values are cognitive representations of abstract, desirable motivational goals that guide the way individuals select actions, evaluate people and events, and explain their actions and evaluations. The unique features of values have implications for their impact on behavior. People are highly satisfied with their values and perceive them as close to their ideal selves. At the same time, however, daily interpersonal interaction reveals that individuals hold different, sometimes opposing, value profiles. These individual differences are even more apparent when individuals from different cultures interact. The collected chapters address the links between values and behavior from a cultural perspective. They review studies conducted in various cultures and discuss culture as a moderator of the relationships between values and behavior. Structurally, part I of the volume discusses what values are and how they should be measure; part II then examines the contents of the relationships between values and behavior in different life-domains, including prosocial behavior, aggression, behavior in organizations and relationships formation. Part III explores some of the moderating mechanisms that relate values to behavior. Taken together, these chapters review and synthesize over twenty years of research on values and behavior, and propose new insights that have important implications for both research and for practice.
Values and Corporate Responsibility: CSR and Sustainable Development (Palgrave Studies in Governance, Leadership and Responsibility)
by Georgiana Grigore Alin Stancu David McQueen Francisca FaracheIn this book we capture and explore different aspects of value in corporate social responsibility (CSR). This includes the historical development of value in CSR, how value is linked to a positive vision of the future, and how it is communicated by a range of private and public organisations to various audiences. The book contrasts corporate strategic value with co-operative value, and community value in the context of sustainable development. It explains how leaders’ values can drive responsible business practice and enhance social cohesion, solidarity and resilience in fractured and unequal communities. The book asks the reader to consider what value means in CSR for business and society, where it comes from and how it is enacted, alongside its broader purpose and value to the community. Finally, the book presents CSR as a global project by noting how values are cultural and how sustainability has become an urgent international priority.
Values and Disorder in Mental Capacity Law (Cambridge Bioethics and Law)
by Cressida AucklandThis book draws on the disciplines of law, philosophy, and psychiatry to interrogate whether the Mental Capacity Act 2005 meets the challenges posed by mental disorder to decision-making. It is often assumed that to allow space for individuality, any test for capacity must focus only on decision-making processes and not on the substance of the values that underpin decisions. Auckland challenges this assumption, arguing that the current law serves merely as a façade, behind which judgements can be made about the nature of a person's values, free from proper scrutiny. This book provides an in-depth analysis of when and how a person's disordered values should be relevant to the determination of their capacity, offering novel suggestions for reforming the capacity test to better reflect the impact of disorder on decision-making. It also explores the implications of this analysis for people found to lack capacity, concluding that reforms to the best interest provisions are urgently needed. This title is part of the Flip it Open Programme and may also be available Open Access. Check our website Cambridge Core for details.
Values and Ethics of Industrial-Organizational Psychology (Applied Psychology Series)
by Joel LefkowitzThis foundational text was one of the first books to integrate work from moral philosophy, developmental/moral psychology, applied psychology, political and social economy, and political science, as well as business scholarship. Twenty years on, this third edition utilizes ideas from the first two to provide readers with a practical model for ethical decision making and includes examples from I-O research and practice, as well as current business events. The book incorporates diverse perspectives into a "framework for taking moral action" based on learning points from each chapter. Examples and references have been updated throughout, and sections on moral psychology, economic justice, the "replicability crisis," and open science have been expanded and the "radical behavioral challenge" to ethical decision-making is critiqued. In fifteen clearly structured and theory-based chapters, the author also presents a variety of ethical incidents reported by practicing I-O psychologists. This is the ideal resource for Ethics and I-O courses at the graduate and doctoral level. Academics in Organizational Behavior and Human Resource Management will also benefit from this book, as well as anyone interested in Ethics in Psychology and Business.
Values and Ethics of Industrial-Organizational Psychology (Applied Psychology Series)
by Joel LefkowitzThis foundational text was one of the first books to integrate work from moral philosophy, developmental/moral psychology, applied psychology, political and social economy, and political science, as well as business scholarship. Twenty years on, this third edition utilizes ideas from the first two to provide readers with a practical model for ethical decision making and includes examples from I-O research and practice, as well as current business events. The book incorporates diverse perspectives into a "framework for taking moral action" based on learning points from each chapter. Examples and references have been updated throughout, and sections on moral psychology, economic justice, the "replicability crisis," and open science have been expanded and the "radical behavioral challenge" to ethical decision-making is critiqued. In fifteen clearly structured and theory-based chapters, the author also presents a variety of ethical incidents reported by practicing I-O psychologists.This is the ideal resource for Ethics and I-O courses at the graduate and doctoral level. Academics in Organizational Behavior and Human Resource Management will also benefit from this book, as well as anyone interested in Ethics in Psychology and Business.
Values and Vaccine Refusal: Hard Questions in Ethics, Epistemology, and Health Care
by Mark NavinParents in the US and other societies are increasingly refusing to vaccinate their children, even though popular anti-vaccine myths – e.g. ‘vaccines cause autism’ – have been debunked. This book explains the epistemic and moral failures that lead some parents to refuse to vaccinate their children. First, some parents have good reasons not to defer to the expertise of physicians, and to rely instead upon their own judgments about how to care for their children. Unfortunately, epistemic self-reliance systematically distorts beliefs in areas of inquiry in which expertise is required (like vaccine immunology). Second, vaccine refusers and mainstream medical authorities are often committed to different values surrounding health and safety. For example, while vaccine advocates stress that vaccines have low rates of serious complications, vaccine refusers often resist vaccination because it is ‘unnatural’ and because they view vaccine-preventable diseases as a ‘natural’ part of childhood. Finally, parents who refuse vaccines rightly resist the utilitarian moral arguments – ‘for the greater good’ – that vaccine advocates sometimes make. Unfortunately, vaccine refusers also sometimes embrace a pernicious hyper-individualism that sanctions free-riding on herd immunity and that cultivates indifference to the interpersonal and social harms that unvaccinated persons may cause.
Values at the End of Life: The Logic of Palliative Care
by Roi LivneOnce defiant of death—or even in denial—many American families and health care professionals are embracing the notion that a life consumed by suffering may not be worth living. Sociologist Roi Livne documents the rise and effectiveness of hospice and palliative care, and the growing acceptance that less treatment may be better near the end of life.
Values-Based Commissioning of Health and Social Care
by Christopher Heginbotham ObeHealth and social care commissioning is a values-driven as well as evidence-driven enterprise. However, whereas there has been an expectation that the evidence-base of commissioning should be made fully explicit, the corresponding values-base has been left largely implicit. The book addresses this subject through a detailed discussion of values and values-based practice, illustrated with case examples, and by developing a critique of existing commissioning. This approach enables commissioners to identify and make explicit the often diverse values of all those involved, whether as commissioners, providers or users of services. It provides a skills base and other support processes for working with differences in values held by all those engaged in making commissioning decisions. This will be essential reading for doctors, both experienced and in training, commissioning managers, professional staff in NHS Foundation Trusts and the private sector and all 'at the sharp' end of practice.
Values-Centered Entrepreneurs and Their Companies
by David Y. Choi Edmund GrayA new brand of entrepreneurs has arrived on the business scene, carrying with them a whole new set of values. They possess a sense of mission – to be socially responsible, protect the planet, and do the right thing for all of their stakeholders. Rather than focus exclusively on financial gain, they aim to achieve a balance between profits and one or more causes of their choosing. In fact, they view for-profit entrepreneurship as a vehicle for social change. The authors call these pioneers "values-centered" entrepreneurs. Some of the values-centered entrepreneurs have been around a few decades. In recent years, however, the numbers have proliferated and the nascent movement has started to make a true impact. These entrepreneurs’ approach to management questions our basic assumptions about how businesses should be run and what their role should be in society. Several of these entrepreneurs have attained high visibility. Yvon Chouinard of sportswear manufacturer Patagoina has been a role model for integrating environmental protection to every aspect of Patagonia’s business operation. Howard Schultz of Starbucks has been able to build one of the strongest brands in the world while being the first retailer to offer comprehensive health benefits and stock options to its part-time employees. Paul Newman, legendary actor and racecar driver as well as a leading maker of salad dressings, gives 100% of Newman’s Own brand’s profits to charity. This book explores how these highly unorthodox leaders have built their profitable and socially responsible business enterprises, and what lessons can be learned for the next generation of entrepreneurs. The authors examine a group of over 40 entrepreneurial companies and how each balanced the profit objective with social responsibility in key aspects of their business operation – from their initial company formation, through growth, to exit – to build successful triple bottom-line companies. Choi and Gray particularly focus on how these firms’ commitment to values affected their company missions, hiring and organizational policies, marketing strategies, financial practices, exit options, and giving programs, and vice versa. In some cases, the authors find that the entrepreneurs’ social objectives have actually strengthened, not weakened, their business enterprises. Based on their extensive studies of these companies, he authors have distilled a set of commonalities. The book presents ten of the most dominant and interesting of these commonalities with a focus on those policies and decisions that appeared to depart from conventional business practice. In addition to devoting chapters to each of the core principles learned from these companies, the authors also include in-depth case studies of four of the ventures featured in their study.
Values Clarification: A Practical, Action-Directed Workbook
by Howard Kirschenbaum Sidney B. Simon Leland W HoweAre you getting what you want out of life? Do you know where you draw the line when it comes to sex, money, cheating on your income tax ... or accepting an indecent proposal? Becoming aware of your values is the key to making wise choices in all aspects of your life, from picking a partner to buying a house. Created by Dr. Sidney Simon, coauthor of the bestselling Getting Unstuck, and two other leading professionals, this workbook has already had an impact on hundreds of thousands of lives. Its scores of intriguing, interactive exercises were designed to uncover the hidden beliefs that reveal what matters most to you, how you deal with life-changing conflicts, which career choices will make you happiest, what leisure time activities provide you with the most pleasure, where you honestly stand on controversial issues, what day-to-day events are likely to make you angry ... excited ... anxious ... confident, how best to motivate yourself, and what beliefs can cause conflict in your family or love relationship.
Values-Driven Business: How to Change the World, Make Money, and Have Fun
by Ben Cohen Mal WarwickThere's no shortage of books on how to run small businesses, but few of them cover the special value -- and special challenges -- of socially responsible business practices for small- or medium-size companies.
The Values-Driven Organization: Unleashing Human Potential for Performance and Profit
by Richard BarrettBased on significant new research from multiple sources, Richard Barrett creates a compelling narrative about why values-driven organizations are the most successful organizations on the planet. According to Barrett, understanding employee's needs--what people value--is the key to creating a high performing organization. When you support employees in satisfying their needs, they respond with high levels of employee engagement and willingly bring their commitment and creativity to their work. This book updates and brings together in one volume, two of Richard Barrett's previous publications, Liberating the Corporate Soul (1998) and Building a Values-Driven Organisation (2006), to provide a reference manual for leaders and change agents who wish to create a values-driven organization. The text provides both a leadership approach, and a language, for organizational transformation and culture change that incorporates concepts such as cultural entropy, values alignment and whole system change. With an updated set of cultural diagnostic tools and a wide range of new and exciting case studies on culture and leadership development, The Values-Driven Organization will be essential reading for students, researchers and practitioners in the fields of organizational change, leadership and ethics.
The Values-Driven Organization: Cultural Health and Employee Well-Being as a Pathway to Sustainable Performance
by Richard BarrettValues-driven organizations are the most successful organizations on the planet. This book explains that understanding employees’ needs—what people value—is the key to creating a high performing organization. When you support employees in satisfying their needs, they respond with high levels of engagement and willingly commit their energies to the organization, bringing passion and creativity to their work. This new edition of The Values-Driven Organization provides an updated set of tools to assess corporate culture, new case studies on cultural transformation and additional materials on sustainability, measuring cultural health at work and the specific needs of the millennial generation. The Values-Driven Organization is essential reading for students, researchers and practitioners of organizational change, leadership, HRM and business ethics.
Values, Ergonomics and Risk Management in Aviation Business Strategy
by Ayse Kucuk Yilmaz Triant G. FlourisThis book discusses the successful integration of values, ergonomy and risk management to achieve corporate strategic goals. Companies are starting to focus on risk management and corporate sustainability, but also value-based approaches in order to stay competitive. Although constantly emerging techniques are making this task easier, managing ergonomic based risks remain a challenge. The book largely focuses on values, ergonomy and risk management in the context of aviation business strategy. Offering insights into the principles of successful aviation business management using a value-based approach, it is a valuable resource for academics and postgraduate students as well as professionals in the aviation industry.
Values, Ethics and Rights for Health and Social Care
by Phil MussonAn understanding of values, ethics and rights is key to good practice. This book introduces these fundamental topics in an accessible style appropriate for all health and social care students and professionals.This book serves as an indispensable resource for both health and social care students and professionals, providing a comprehensive introduction to the foundational principles of values, ethics, and rights. Offering a clear and accessible approach, it equips readers with the necessary knowledge to maintain exemplary professional standards, especially in demanding situations. Emphasising the significance of these principles as the cornerstone of effective practice, it underscores their importance before delving into clinical skills.The book adeptly navigates through intricate ideas, encompassing crucial aspects such as individual safety, consent, confidentiality, and the maintenance of professional boundaries. Throughout, it includes exercises and opportunities for constructive debate and discussion, ensuring a thorough understanding of these critical concepts.