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RE-THEORIZING THE FIRM:
Nathan, Ganesh
Nathan, Ganesh
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re-theorising_93.pdf
Adobe PDF, 109.44 KB
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Abstract
This paper re-theorizes the firm from a socio-political perspective to show that a firm is not only an economic, but also a social and political actor. Given multiple global crises, our traditional understanding of the purpose of the firm – the maximization of shareholder value – is increasingly being challenged. This paper shows that the purpose of the firm is rooted in our social life, and hence a notion of well-being and social justice gains significance rather than wealth creation to underscore the role of responsible governance for sustainability in many dimensions – economic, social and environmental. It concludes that the purpose of the firm should go beyond profit maximization in pursuit of well-being of stakeholders and in deliberating global social justice for a sustainable world order.
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Conference proceedings
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2012
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With permission of the license/copyright holder