Do values and social responsibility have any place in the profit-driven corporate world? Just ask the employees and stockholders of Enron. Even before the Enron disaster, however, the business sections of newspapers were filled with stories about companies such as Bridgestone, Sotheby's, and Microsoft, whose reckless or irresponsible practices and standards had jeopardized both their profits and their futures.

In Value Shift, renowned Harvard Business School Professor Lynn Sharp Paine reveals that corporate social responsibility makes for more than good public relations; it is a powerful tool for achieving superior performance and generating greater profits. She takes a realistic look at the new role that private industry will play in public service in the years ahead and explores the increasing importance of corporate values in maintaining the long-term profitability of companies.

Professor Paine describes how, recent news reports notwithstanding, many companies in the United States and around the world have already placed increased emphasis on values and corporate citizenship. She explains the motivations behind this turn to values, analyzes its impact on management practice, and presents guidelines for developing a "corporate conscience."

The most striking feature of this eye-opening exposé is its hardheaded appraisal of the growing body of evidence showing that a values-based orientation is very good for business. It also offers pointers on how managers can anticipate and avoid "gray area" dilemmas, formulate conscientious responses to incidents that will also serve the organization’s goals and interests, and take a more active role in strengthening their company’s public image.

Companies that adhere to basic values benefit from more effective risk management, more efficient organizational functioning, increased market attractiveness, and greater investor confidence. Value Shift provides the tools and techniques needed to instill the values that create more responsible, more accountable, and more profitable organizations. It is the ultimate resource for corporate managers who want their companies to do well while doing good.


TABLE OF CONTENTS

Preface and Acknowledgments
Ch. 1 The Turn to Values
Ch. 2 Does Ethics Pay?
Ch. 3 Time for a Reality Check
Ch. 4 The Corporation’s Evolving Personality
Ch. 5 A Higher Standard
Ch. 6 The New Value Proposition
Ch. 7 Performing at a Higher Level
Ch. 8 A Compass for Decision Making
Ch. 9 The Center-Driven Company
App.: Emerging Standards
Notes
Index