Capitalism at the Crossroads: The Unlimited Business by Stuart L. Hart

By Stuart L. Hart

Capitalism is certainly at a crossroads, dealing with overseas terrorism, all over the world environmental swap, and an accelerating backlash opposed to globalization. businesses are at crossroads, too: discovering new options for ecocnomic development is now tougher. either units of difficulties are in detail associated. how to determine sustainable items and applied sciences which can force new progress whereas additionally aiding to resolve present day most vital social and environmental difficulties. Hart exhibits the best way to develop into really indigenous to all markets — and steer clear of the pitfalls of conventional 'greening' and 'sustainability' suggestions. This ebook does not simply aspect the best way to a capitalism that's extra inclusive and extra welcome: it deals particular suggestions to recharge innovation, progress, and profitability.

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Extra info for Capitalism at the Crossroads: The Unlimited Business Opportunities in Solving the World's Most Difficult Problems

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Fast-forward to 1974. As a freshly minted college graduate headed to Yale for graduate work in the School of Forestry and Environmental Studies, I was convinced that corporations were the “enemy” and that the only way to deal effectively with environmental problems was to “make them pay” through regulation—to internalize their externalities, in the jargon of economics. This was probably a correct perception at that point in history: Large corporations, by and large, had been unresponsive to environmental issues, and it appeared that the only way to deal with the problem was to force them to clean up the mess they were making.

24 External support for the firm’s strategy had eroded, and in late 1999, the company followed through on merger talks with pharmaceutical maker Pharamcia & Upjohn. This move effectively ended the Shapiro era of sustainabilitydriven corporate strategy at Monsanto. 25 Certainly, the emergent nature of biotechnology had something to do with the problems that Monsanto experienced. 26 Yet there is even something more fundamental at work here. The power of governments has eroded in the wake of globalization and the growth of transnational corporations with global supply chains that span several continents.

Harvard Business Review (September/October 1995): 120–134; Stuart Hart and Gautam Ahuja, “Does It Pay to Be Green? An Empirical Examination of the Relationship Between Emission Reduction and Firm Performance,” Business Strategy and the Environment 5 (1996): 30–37; Michael Russo and Peter Fouts, “A Resource-Based Perspective on Corporate Environmental Performance and Profitability,” Academy of Management Journal CHAPTER 1 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. ” Strategic Management Journal 19 (1998): 729–753.

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