Author Archives: Paul Hess

4/29 – A NEW MODEL OF THE FIRM: Sustainable Business as Transformation of Management, Organization, Economics, Science, and Morality

Feature Articles / April- June 2014

Paul Hess

The modern corporation has many demands placed upon it by various stakeholders: investors, customers, employees, communities, government, representatives of the natural environment, etc. How should corporations respond to these stakeholders? There are three major possibilities: to prioritize one stakeholder, to address all stakeholders separately, or to serve all stakeholders as part of a common good.

Prioritizing one stakeholder is done by the most common model of the firm, the shareholder firm, whose proponents …