Value Shift: Why Companies Must Merge Social and Financial Imperatives to Achieve Superior Performance

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McGraw Hill Professional, Aug 22, 2002 - Business & Economics - 288 pages
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"Lynn Paine has an optimistic analysis of the need for--and the value of--bringing ethical values into business decision-making. The 'meltdown' of so many high-flyers reecntly suggests that lesson had been lost on too many companies during the boom years. The time has come to take account of what she writes."--Paul A. Volcker

"This book presents a way of broadening the role of the corporation in our society, an interesting and exciting role. It's a good read for young leaders in all walks of life."--John C. Whitehead, former Chairman, Goldman Sachs

"Value Shift provides a timely and compelling argument for why companies must incorporate values into their strategies--that no one in business can afford to ignore."--Daniel Vasella, Chairman + CEO /Novartis AG


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Chapter 1 The Turn to Values
Chapter 2 Does Ethics Pay?
Chapter 3 Time for a Reality Check
Chapter 4 The Corporations Evolving Personality
Chapter 5 A Higher Standard
Chapter 6 The New Value Proposition
Chapter 7 Performing at a Higher Level
Chapter 8 A Compass for Decision Making
Chapter 9 The CenterDriven Company
Emerging Standards

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Page 254 - freedom of association and the effective recognition of the right to collective bargaining; Principle 4: the elimination of all forms of forced and compulsory labour; Principle 5: the effective abolition of child labour; and Principle 6: the elimination of discrimination in respect of employment and occupation. The
Page 87 - Chief Justice John Marshall described the corporation as "an artificial being, invisible, intangible, and existing only in contemplation of law.
Page 254 - At the World Economic Forum, Davos, on 31 January 1999, UN SecretaryGeneral Kofi A. Annan challenged world business leaders to "embrace and enact" the Global Compact, both in their individual corporate practices and by supporting appropriate public policies. These principles cover topics in human rights, labour, and environment:
Page 254 - support and respect the protection of international human rights within their sphere of influence; and Principle 2: make sure their own corporations are not complicit in human rights abuses. The
Page 254 - ENVIRONMENT Principle 7: support a precautionary approach to environmental challenges; Principle 8: undertake initiatives to promote greater environmental responsibility; and Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Page 269 - Did you ever expect a corporation to have a conscience, when it has no soul to be damned, and no body to be kicked?
Page 32 - [T]he company seeks to adhere to these values not as a means to achieve economic success, but because adherence is a worthwhile goal in and of itself." Should a conflict between these values and profits arise, the prospectus stated, the company would try to adhere to its values, even if doing so might result in "diminished profits and foregone opportunities.

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About the author (2002)

Lynn Sharp Paine, D.Phil., J.D., is a John G. McLean Professor and at the Harvard Business School. She is a member of The Conference Board's Blue-Ribbon Commission on Public Trust and Private Enterprise, and consults to companies worldwide on leadership and values. Her articles have appeared in Harvard Business Review and other major business journals, and she is the author of the casebook Leadership, Ethics, and Organizational Integrity.

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