TY  - JOUR
AB  - 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.
VL  - 39
IS  - 4
SN  - 1087-8572
DO  - 10.1108/10878571111147341
UR  - https://doi.org/10.1108/10878571111147341
AU  - Allio Robert J.
PY  - 2011
Y1  - 2011/01/01
TI  - Reinventing management purpose: the radical and virtuous alternatives
T2  - Strategy & Leadership
PB  - Emerald Group Publishing Limited
SP  - 4
EP  - 11
Y2  - 2024/04/25
ER  -