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This Element examines the current crisis of capitalism's legitimacy and concludes that it derives principally from business pursuing an aberration of capitalism known as shareholder capitalism, in which firms sought to maximize shareholder value as reflected in the current share price, at the expense of all other stakeholders and society. Shareholder capitalism began in the 1970s and was renounced by the Business Roundtable in 2019, but continues behind a facade of stakeholder capitalism. Stakeholder capitalism is the most widely cited form of capitalism today, but it is incoherent as a practical guide to action for an entire firm. This Element concludes that a recent evolution of capitalism--customer capitalism--which gives primacy to co-creating value for customers and users, enables firms to master the challenges of the digital age, shower benefits on society, and meet the needs of all the stakeholders.
A radical new management model for twenty-first century leaders Organizations today face a crisis. The crisis is of long standing and its signs are widespread. Most proposals for improving management address one element of the crisis at the expense of the others.
Teaches storytelling as a powerful and formal discipline for organizational change and knowledge management. This book explains how organizations can use certain types of stories ("springboard" stories) to communicate new or envisioned strategies, structures, identities, goals, and values to employees, partners and even customers.
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