Sustainable Value Creation 2nd Edition By Chandler, David
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- 143
- File size
- 9.39 MB
- Format
- Digital PDF
- Course
- Education
- Category
- eBook[PDF]
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About this ebook
The 2nd Edition of Sustainable Value Creation by David Chandler redefines Corporate Social Responsibility (CSR) not as a peripheral addition to business, but as the core value-creating purpose of the firm. The book is structured around a pragmatic, stakeholder-theory framework composed of ten fundamental principles. [1, 2, 3]
The main topics and principles covered in the book include: [1]
- Introduction to Corporate Social Responsibility: Re-evaluating traditional, fragmented definitions of sustainability and business ethics.
- Principle 1: Business is social progress: Exploring how for-profit entities naturally drive societal advancement.
- Principle 2: Shareholders do not own the firm: Challenging conventional corporate law assumptions and looking closely at who truly owns and controls a corporation.
- Principle 3: Prioritizing competing stakeholder interests is difficult: Navigating the complex trade-offs between customers, employees, suppliers, and communities.
- Principle 4: CSR is a stakeholder responsibility: Examining how stakeholders (including consumers) share the burden of demanding and supporting ethical practices.
- Principle 5: Market-based solutions are optimal: Utilizing economics and market dynamics to incentivize and scale sustainable solutions.
- Principle 6: Profit = total value: Redefining "profit" as the holistic value generated for all stakeholders over the long term, rather than just short-term financial gains.
- Principle 7: The free market is not free: Investigating market failures, externalities, and the systemic costs ignored by traditional accounting.
- Principle 8: Only business can save the planet: Arguing that the scale and capabilities of the private sector are necessary to address global environmental crises.
- Principle 9: Value creation is not a choice: Positing that every operational function inherently creates or destroys stakeholder value, making CSR unavoidable.
- Principle 10: The business of business is business: Repurposing Milton Friedman's famous phrase to argue that a firm's true business is maximizing holistic stakeholder value creation. [1, 2, 3, 4, 5, 6]
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