In search of socio‐economic syntheses

Abstract

Purpose

Starting from the premise that responsible managers utilize their competences and creativity to carry out projects which improve stakeholder satisfaction and economic performance simultaneously, the paper aims to present a classification of these solutions, called socio‐economic syntheses, and the way to reach them.

Design/methodology/approach

The paper refers to literature on corporate social responsibility and sustainability, with special attention to contributions on the relationship between social performance and economic performance. In particular, the model presented highlights several successful case studies that have been studied or directly observed in large and medium‐sized firms.

Findings

The paper provides a classification of seven categories of socio‐economic syntheses, from solutions concerning operational management, often applicable in different industries, to projects with greater strategic value, which are typically firm‐specific. Moreover, two ways to achieve a win‐win solution are proposed: the first starting from an idea of activity aimed at improving economic performance; the second from the desire to better satisfy expectation of one or more stakeholder categories.

Practical implications

In this paper practitioners can find suggestions and opportunities for better introduction of win‐win solutions inside their firms, which could be the fruit of imitation or creativity.

Originality/value

The classification of the socio‐economic syntheses represents a new conceptualization that opens up paths for an increasing number of solutions that can improve economic and socio‐environmental performance simultaneously.

Citation

Molteni, M. and Pedrini, M. (2010), "In search of socio‐economic syntheses", Journal of Management Development, Vol. 29 No. 7/8, pp. 626-636. https://doi.org/10.1108/02621711011059059