Reinventing management purpose: the radical and virtuous alternatives

Robert J. Allio

doi:10.1108/10878571111147341

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Strategy & Leadership

ISSN: 1087-8572
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Reinventing management purpose: the radical and virtuous alternatives

Document Information:
Title:	Reinventing management purpose: the radical and virtuous alternatives
Author(s):	Robert J. Allio, (Strategy & Leadership contributing editor (RAllio@mac.com) and the author of The Seven Faces of Leadership (2002))
Citation:	Robert J. Allio, (2011) "Reinventing management purpose: the radical and virtuous alternatives", Strategy & Leadership, Vol. 39 Iss: 4, pp.4 - 11
Keywords:	“Honeybee” leadership, Corporate capitalism, Corporate social responsibility, Create shared value, Customer capitalism, Management development, Radical management, Reinventing management, Shareholder value strategy, Tax manipulation, Triple bottom line, Virtuous corporation
Article type:	Conceptual paper
DOI:	10.1108/10878571111147341 (Permanent URL)
Publisher:	Emerald Group Publishing Limited
Abstract:	Purpose – One of the lessons of the Great Recession is that managing for shareholder value can result in damage to other stakeholders. This paper seeks to articulate a new purpose for the firm that is more legitimate than maximizing financial returns for shareholders. Design/methodology/approach – The paper examines the various management alternatives: modify the shareholder value strategy; become socially responsible; and adopt radical management practices. Findings – A central question is whether the alternative management models will contribute to corporate longevity. The paper suggests an alternative approach: the virtuous corporate. Originality/value – The paper looks at the virtuous corporation which would balance the need to reward external stakeholders with relentless attention to internal excellence and virtue.