cems mim programme at the corvinus university of budapest · corvinus university of budapest...

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The FutureInternational Manager

Blocked Seminar

o r g a n i z e d b y Corv inu s Un ive r s i t y o f Budape s t

August 31–September 6, 2008 • Balatonszemes, Hungary

Community of European Management Schools

★

CE MS★★

★

The seminar presents a fresh look at the desired professional profile of future international managers in different aspects of business. It provides a new vision of the roles and duties of management in the context of globalization.

Inspired by the CEMS MIM Qualifications Framework and the development works of the CEMS Business Ethics Faculty Group a definition of the “Future International Manager” is as follows.

T h e F u t u r e I n t e r n a t i o n a l M a n a g e r

(i) is a reflexive practitioner working in intercultural and international context,

(ii) is committed to environmental sustainability,

(iii) exercises social responsibility,

(iv) works with sensitivity toward gender and diversity issues,

(v) harmonizes information communication technologies with processes and organizational culture,

(vi) applies holistic perspective in problem solving,

(vii) cooperates with social and political actors,

(viii) is engaged in progressive entrepreneurship.

The seminar is based on the new CEMS book “The Future International Manager” to be published by Palgrave in 2009.

T H E F U T U R E I N T E R N A T I O N A L M A N A G E R6

L A S Z L O Z S O L N A I

Corvinus University of Budapest

Hungary

COURSE DIRECTOR

Laszlo Zsolnai is professor and director of the Business Ethics Center at the Corvinus University of Budapest. He is chairman of the Business Ethics Faculty Group of the CEMS. László Zsolnai was born in 1958, in Szentes, Hungary. He has a master’s in finance and a doc-torate in sociology from the Budapest University of Economic Sciences. He received his Ph.D. and DSc degrees in economics from the Hungarian Academy of Sciences.

Laszlo Zsolnai has taught and worked at various universities including University of California at Berkeley, Georgetown University, University of Oxford, Bocconi University Milan, Norwegian School of Eonomics and Business Administra-tion, Helsinki School of Economics, Vienna University of Economics and Business Adminis-tration, and Copenhagen Business School.

He is Editor-in-Chief of “Ethical Prospects” published by Springer. He also serves as Series Editor of “Frontiers of Business Ethics” at Peter Lang Academic Publisher in Oxford.

7C E M S B L O C K E D S E M I N A R • 2 0 0 8 – H U N G A R Y

Las z lo Zso lna i ’ s book s inc lude :

• The European Difference. 1998. Boston–Dordrecht–London: Kluwer Academic Publishers.

• Ethics and the Future of Capitalism. 2002. New Jersey–London: Trans-actions Publisher (with Wojciech Gasparski).

• Ethics in the Economy: Handbook of Business Ethics. 2002. Oxford–Bern: Peter Lang Academic Publisher.

• Spirituality and Ethics in Management. 2004. Boston–Dordrecht–London: Kluwer Academic Publishers.

• Business Within Limits: Deep Ecology and Buddhist Economics. 2006. Oxford and Bern: Peter Lang Academic Publisher (with Knut J. Ims).

• Spirituality as a Public Good. 2007. Antwerp–Apeldoorn: Garant (with Luk Bouckaert).

• Frugality: Rebalancing Material and Spiritual Values in Economic Life. 2008. Oxford: Peter Lang Academic Publishers (with Luk Bouckaert and Hendrik Opdebeeck).

• Europe–Asia Dialogue on Business Spirituality. 2008. Antwerpen–Apeldoom: Garant.


Z S O L T B O D ACorvinus University of Budapest

Hungary

FACULTY

Zsolt Boda was born in 1969 in Budapest, Hungary. He holds an MA in economics and a Ph.D. in political science. He is research fellow at the Institute of Political Science, Hungarian Academy of Sciences, and associate professor at the Business Ethics Center, Corvinus University of Budapest.

He has co-edited and written books in Hungarian on corporate ethics, political theory, environ-mental politics and policy. He has published several papers in academic journals and books on international ethics involving the fair trade problematic, trade and environmental issues, and the politics of global environmentalism.


Zso l t Boda ’ s pub l i c a t i on s in Eng l i sh inc lude :

• “Can Governance Structures and Civil-Corporate Partnerships Manage the Global Commons?” in: Henri-Claude de Bettignies, Francois Lépineux (eds) (forthcoming, 2008): Globalization and the Common Good. Oxford: Peter Lang.

• “Hungary,” in: Naren Prasad (ed.) (2008): Social Policies and Private Sector Participation in Water Supply. Beyond Regulation. Palgrave: Macmillan, pp. 178–202 (with Gábor Scheiring, David Hall, and Emanuele Lobina).

• “The Ethical Consumerism Movement,” Interdisciplinary Yearbook of Business Ethics, 1, 2006, pp. 141–153 (with Emese Gulyás).

• “Global Environmental Commons and the Need for Ethics,” Society and Economy, Fall 2003, pp. 213–224.

• “Globalization and International Ethics,” in: Laszlo Zsolnai (ed.) (2002): Ethics in the Economy: Handbook of Business Ethics. Oxford: Peter Lang, pp.233–258.


Mary Ann Danowitz (BA, MEd, and EdD) is a visiting member of the faculty of the Vienna University of Economics and Business Admin-istration in the Department of Management, Institute of Organizational Studies and Organi-zational Behaviour and Gender and Diversity Management Group. She specializes in gender and diversity management and equality, especially as they relate to organizational change. Her work includes gender and careers and leadership and governance with in depth attention to develop-ments in the United States and the university sector.

Prior to coming the Vienna University of Eco-nomics and Business Administration as Fulbright Professor in 2007 she held professorial and mana-gerial appointments at several U.S. universities including the University of Denver and Ohio State University. She has worked as a visiting scholar and consultant in Indonesia, Malaysia, Australia and Europe.

M A R Y A N N D A N O W I T Z

Vienna University of Economics and Business

Administration, Austria

FACULTY


M.A. Danowi t z’s mos t cu r ren t pub l i c a t i on s inc lude :

• Danowitz, M.A. (ed.) (2007): Women, Universities and Change: Gender Equality in the European Union and the United States. New York and London: Palgrave Macmillan.

• Danowitz, M.A., E. Hanappi-Egger, and R. Hofmann (forthcoming, 2008): “Development and implementation of a diversity management curriculum: Organizational change through exploration and exploitation” International Journal of Educational Management.

• Danowitz, M.A. (forthcoming, 2008): “Gender equality as organizational change: Frames, challenges, and strategies in the EU and US,” in: Grenz, S., B. Kortendiek, M. Kriszio, A. and Löther (eds): Gender Equality in Universities. Wiesbaden: VS Verlag.

• Danowitz, M.A. and Tuitt, F. (forthcoming, 2008): “Moving toward Inclusive Excellence in PhD programmes,” in: Tienari, J., S. Katila, and S. Sumerila (eds): Working for Inclusion: Positive Experiences from Across the World. Glos: Edward Elgar Publishing.


K N U T J O H A N N E S S E N I M S

Norwegian School of Economics & Business

Administration, Bergen, Norway

FACULTY

Knut Johannessen Ims is Professor in Business Ethics at the Norwegian School of Economics and Business Administration (NHH), Bergen Nor-way. He received his Ph.D. from the School of Economics and Legal Sciences, Gothenburg University, Sweden. He has taught different MBA courses in Ethics; “Ethical Action – Indivi-dual, Organization and Society”, and “Business Strategy and Business Ethics” for more than a decade. He has also taught Ph.D. courses in “System Development” and “Information and Management”. He is a member of the Business Ethics interfaculty group of the Community of European Management Schools (CEMS), and is Chairman of the Board of the Centre of Ethics and Economics at NHH.


Some o f Knut Ims ’ s pub l i c a t i on s inc lude :

• “Take It Personally,” in: Zsolnai, Laszlo and Knut J. Ims (eds) (2006): Business within Limits. Deep Ecology and Buddhist Economics. Oxford: Peter Lang.

• “Cooperation and Competition in the Context of Organic and Mechanic Worldviews. A Theoretical and Case-based Discussion.” Journal of Busi-ness Ethics (2006) 66: 19–32 (with Ove Jakobsen).

• “Partnership in the Market – Max Havelaar as an Example of Moral Consumers, Vulnerable Producers and Fair Trade,” in: Ingebrigtsen, Stig and Ove Jakobsen (eds) (2007): Circulation Economics. Theory and Practice. Oxford: Peter Lang.

• “‘Quality of Life’ The Golden Mean between materialistic Consumerism and Spiritual Asceticism as Seen from a Western Perspective,” in: Zsolnai, Laszlo (ed.) (2008): Europe–Asia Dialogue on Business Spirituality, European Spes Cahiers No. 2., Antwerpen: Garant (with Ove Jakobsen).

• “Consumerism and Frugality: Contradictory Principles in Economics?” in: Bouckaert, L., H. Opdebeeck, and L. Zsolnai (eds) (2008): Fru-gality. Rebalancing Material and Spiritual Values in Economic Life. Oxford: Peter Lang (with Ove Jakobsen).


A N D R A S N E M E S L A K I

Corvinus University of Budapest

Hungary

FACULTY

Andras Nemeslaki graduated from the Technical University of Budapest and he holds a Ph.D. from the Hungarian Academy of Sciences. He is an Associate Professor at the Corvinus University of Budapest and the Head of the E-Commerce Research Group. He is also the CEMS Academic Director of Corvinus, and has been working in this positions for six years. His field of expertise and research interest is in e-business, information systems’ (IS) and project management. He has deve-loped one of the first business oriented manage-ment information system curriculum in Hungary and has taught several IS related courses.

Dr. Nemeslaki has taught courses at several universities in Hungary and was also a Visiting Professor at the Case Western Reserve University in Cleveland, Ohio, University College Dublin, University of Cologne, Bocconi University Milano, University of Deleware, Lerner School of Business. Dr. Nemeslaki is also active in the CEMS Faculty Group of Enterprise Networking and ICT, he has been organizing Ph.D. workshops and block seminars in this field.


Andra s Nemes l ak i ’ s ma in pub l i c a t i on s a r e :

• Nemeslaki A. (2005): E-Business Models. Mentor Kiadó (in Hungarian).

• Nemeslaki A., L. Duma (2002): “E-Business Models: Strategic Success Factors,” Harvard Business Manager, Vol. 4., No. 2., pp. 63–77 (in Hungarian).

• Kápolnai A., A. Nemeslaki, and R. Pataki (2002): E-Business-Strategy for Corporate Executives. Aula Kiadó (in Hungarian).

• Nemeslaki, A., Dong Yang Hee, and Michael Ginzberg (1997): “Informa-tion System Implementations in Hungary: A Model for Absorptive Capacity for IS Adoption,” Research in Progress Paper in the Proceedings of ICIS, Atlanta, December 14–17, pp. 494–495.

• Nemeslaki, A. (1997): “Information System Project Experiences in Hungarian Companies: Should IS Projects Be Managed Differently in Transitional Economies?” Eastern Academy of Management (EAM) Annual EAM Conference in Dublin, Ireland.


E L E A N O R O ‘ H I G G I N S

University College Dublin, Ireland and

London School of Economics, United Kingdom

FACULTY

Eleanor O’Higgins (BA, MSc, MBA, Ph.D.) is on the faculty of the Business School at Uni-versity College Dublin and a Visiting Fellow at the London School of Economics and Political Science. She specializes in teaching, research and publications in business ethics, corporate social responsibility, corporate governance and strategic management. She is the author of numerous papers in academic and professional journals, newspaper articles, book chapters and case studies.

She is a member of the Press Council of Ireland, a director of Transparency International Ireland, and of The Marine Institute. She is a member of the Business Ethics and of the Public Management & Governance interfaculty groups of the Community of European Management Schools (CEMS) and has held various leadership positions in the US Academy of Management. She is on the editorial boards of a number of international management journals.


Eleanor O ’Higg in s ’ pub l i c a t i on s inc lude :

• O’Higgins (2006): “Corruption, Underdevelopment and Extractive Resource Industries: Addressing the Vicious Cycle,” Business Ethics Quarterly, 16(2): 235–254.

• O’Higgins, E. and J.W. Morgan (2006): “Stakeholder Salience and Engagement in Political Organisations: Who and What Really Counts?” Society & Business Review, 1(1); 62–76. (Emerald Highly Commended Paper Award).

• O’Higgins, E. and B. Kelleher (2005): “Comparative Perspectives on the Ethical Orientations of Human Resources, Marketing and Finance Functional Managers,” Journal of Business Ethics, 56(3): 275–288.

• O’Higgins, E. (2003): “Global Strategies: Contradictions and Con-sequences,” Corporate Governance – The International Journal of Business in Society, 3(3): 52–66. (Recipient of Emerald Literati Award).

• O’Higgins, E. (2002): “Non-executive Directors: Co-option, Characteristics and Contributions,” Corporate Governance: An International Review, 10(1): 19–28.


A N T O N I O T E N C A T I

Bocconi University, Milan

Italy

FACULTY

Antonio Tencati is Assistant Professor of Manage-ment and Corporate Social Responsibility at the Department of Management – CSR Unit of Bocconi University in Milan. He was born in 1968. He has a Degree in Business Administra-tion at Bocconi University, Milan. Since 1993 he has been a researcher at SPACE (the European Research Centre of Bocconi University on Risk, Security, Occupational Health and Safety, Envi-ronment and Crisis Management). Since 2000 he has been a member of the Business Ethics Faculty Group of the CEMS (Community of European Management Schools). Since 2005 he has been an Assistant Professor at Bocconi University.

Antonio Tencati’s research areas include busi-ness management, management of sustainabil-ity and corporate social responsibility, environ-mental management, innovation and operations management.


Anton io Tenca t i ’ s pub l i c a t i on s inc lude the f o l l ow ing :

• Tencati A. and L. Zsolnai (2008): “The Collaborative Enterprise,” Journal of Business Ethics (forthcoming).

• Russo A. and A. Tencati (2008): “Formal vs. Informal CSR Strategies. Evidence from Italian Micro, Small, Medium-sized, and Large Firms,” Journal of Business Ethics (forthcoming).

• Pivato S., N. Misani, and A. Tencati (2008): “The Impact of Corporate Social Responsibility on Consumer Trust. The Case of Organic Food,” Business Ethics: A European Review, 17(1), pp. 3–12.

• Lenssen G., F. Perrini, A. Tencati, and P. Lacy (eds) (2007): ‘Corporate Responsibility and Strategic Management,’ Corporate Governance: The International Journal of Business in Society, 7(4).

• Perrini F., S. Pogutz, and A. Tencati (2006): Developing Corporate Social Responsibility. A European Perspective. Cheltenham, UK: Edward Elgar Publishing.


M O N D A Y ••••••••••••••••••••••••S e p t e m b e r 1 , 2 0 0 8

9.00–12.30 Business as a Profession

Laszlo Zsolnai Corvinus University of Budapest

Irresponsible and insensitive behavior of business leaders worldwide show that business is an under-professionalized occupation today. In comparing business management with the more traditional professions of law and medicine we can find its shortcomings.

Criticism by outstanding business scholars show that something rotten in business education today. Sumantha Goshal points out that by propagating ideologically inspired amoral theories, business schools have actively freed their students from any sense of moral responsibility. Ian I. Mitroff claims that business schools faculty at best are guilty of having provided an environment where the Enrons and the Andersens of the world could take roots and flour-ish. At worst they are guilty of being active accomplices and co-conspirators in their criminal behavior.

Joel M. Podolny, dean of Yale School of Management emphasizes that oc-cupations are defined as professions to the degree to which they serve society. And unless management lives up to that service standard, it frankly calls into question what business schools are actually doing.

Requ i red re ad ing :

• Laszlo Zsolnai: “Business as a Profession,” The Future International Manager, Chapter 1.

Add i t i ona l r e ad ing :

• Khurana, R., Nohria, N., & Penrice, D. 2005: “Is business management a profession?” Harvard Business School Working Knowledge, February 21, 2005.

THE PROGRAM


14.00–17.30 Achieving Environmental Sustainability

Antonio Tencati Bocconi University Milan

According to the Living Planet Report 2006 released by WWF the planet’s resources have been used faster than they can be renewed. The latest data avail-able (for 2003) indicate that humanity’s Ecological Footprint, our impact on the Earth, has more than tripled since 1961. Since the late 1980s, the mankind has been in overshoot: As of 2003 the Ecological Footprint has exceeded the Earth’s bio-capacity by about 25%. In parallel, the Living Planet Index shows a related, fast and continuing loss of biodiversity: Between 1970 and 2003 populations of vertebrate species have declined by about 30%.

These results have been confirmed by other publications, such as the Stern Report commissioned by the British Government and the Fourth Assessment Report issued by the Intergovernmental Panel on Climate Change (IPCC), and by the decision of the Norwegian Nobel Committee to share the Nobel Peace Prize for 2007 between the IPCC and Albert Arnold (Al) Gore Jr. “for their efforts to build up and disseminate greater knowledge about man-made climate change, and to lay the foundations for the measures that are needed to counteract such change”.

Therefore, although positive initiatives devoted to pollution control and protec-tion of the environment have been increasing over the years at international (e.g., The Kyoto Protocol), regional (e.g., the EU Strategy for Sustainable Development), national (e.g., new regulations to promote renewable energy and eco-efficiency), local (e.g., Local Agendas 21) and corporate (involving not only big corporations but also SMEs and clusters) levels, these attempts have been ultimately ineffective and disappointing.


Our patterns of production and consumption are substantially unsustainable. It is not enough to intervene partially and separately, but a systemic approach is needed: Governments, companies and citizens have to include the ecological limits in their mindsets, choices and behaviors, act within the Earth’s carrying capacity, and collaborate to face the sustainability challenge


• Antonio Tencati, Stefano Pogutz, and Carlos Romero: “Achieving Environ-mental Sustainability,” The Future International Manager, Chapter 2.


• Perrini F., Tencati A. (2006): “Sustainability and Stakeholder Management: the Need for New Corporate Performance Evaluation and Reporting Systems,” Business Strategy and the Environment, 15(5), pp. 296–308.

21.00 An Inconvenient Truth (Al Gore’s Movie)

THE PROGRAM


T U E S D A Y •••••••••••••••••••••••S e p t e m b e r 2 , 2 0 0 8

9.00–12.30 Developing Social Responsibility


Companies are engaging in a variety of activities that have hitherto been as-sociated with the state/government or civil society, among these philanthropy and community investment, environmental management, workers rights and welfare, human rights, animal rights, corruption, corporate governance, and legal compliance.

Ethics involves higher costs but also brings special benefits. Benefits of socially responsible companies are as follows: (i) Opportunistic behavior can be avoided between owners and managers, (ii) Getting moral satisfaction employees are ready to work more for less salary, (iii) High quality new employees can be recruited, (iv) Customers’ loyalty can be gained, (v) The trust of sub-contractors can be established. Firms are compensated for the higher costs of their social responsible behavior by their ability to form commitments between owners, managers and employees and to establish trust relationships with customers and sub-contractors.


• Steen Vallentin, Mette Morsing, and Laszlo Zsolnai: “Developing Social Responsibility,” The Future International Manager, Chapter 3.


• Laszlo Zsolnai (2006): Competitiveness and Corporate Social Responsibility. CSR Papers 2, December. Milan: Eni Enrico Mattei Foundation.


14.00–17.30 Managing Gender and Diversity in Organizations

Mary Ann Danowitz University of Economics and Business Administration

Few social issues have generated as much attention in the last few decades as diversity. Within the work place organizations can no longer afford to ignore changes in the labor force or demographics of markets. The increasing partici-pation of women, an aging population, and immigration are radically changing the future employment outlook. In order for organizations to deal with the complexities and realities of maintaining a competitive advantage, attracting and retaining the best talent, and reducing discrimination they must engage in diversity management.

Although diversity management and gender responsiveness have received much attention in the USA and have started to become serious issues in the European Union, companies seem to have difficulties committing to and implement-ing diversity management. Responsible and innovative management requires a comprehensive—business guided and socially conscience approach, which considers the organization’s mission and culture and its legal, political and social contexts in order to be inclusive and effective.


• Mary Ann Danowitz, Edeltraud Hanappi-Egger, and Roswitha Hofmann: “Managing Gender and Diversity in Organizations,” The Future Inter-national Manager, Chapter 4.

19.00 Group Exercise

THE PROGRAM


W E D N E S D A Y •••••••••••••••••••S e p t e m b e r 3 , 2 0 0 8

9.00–12.30 Reinventing Organizations with ICT

Andras Nemeslaki Corvinus University of Budapest

Most assumptions in the way we use information communication technolo-gies (ICT) in organizations stem from the post-war technology paradigms of the 1950s. Initially, information technology (IT) was separate from com-munication technology and supported data processing, number crunching and automation of repetitive tasks. This had lead to time and cost reduction of business processes. IT was only on the organizational level, its operation required sophisticated skills and knowledge, and has been isolated to a func-tional organizational unit.

Nowadays, IT has converged with communication technology; computers are connected and communication devices are computerized. Due to the develop-ment of the microelectronics and computer industry ICT is ubiquitous, easy to use, and powerful. It appears on all levels, organizational, individual and even in inter-organizational settings. There are more people playing Word of Warcraft or Second Life on-line role playing games on the internet than the number of inhabitants of some countries. In the Western hemisphere everybody has more than one mobile ICT device including the newborn infants.

ICT challenges the way managers and organizations work. Organizations are compelled to continually reassess and realign their strategies in response to changes in technology. We all experience day by day how ICT enriches our lives,


so we can see the creation of new industries and innovative forms of business models. During our session we will introduce some concepts about he inter-relationship of information technology and organizations, and show the key technology drivers from a managerial point of view. Then working in interactive sessions we will discuss how technology will impact managers´ work.


• Paola Bielli and Andras Nemeslaki: “Reinventing and Restructuring Organi-zations with information and Communication Technologies,” The Future International Manager, Chapter 5.

14.00–19.00 Excursion and Wine Tasting

THE PROGRAM


T H U R S D A Y •••••••••••••••••••••S e p t e m b e r 4 , 2 0 0 8

9.00–12.30 Holistic Problem Solving

Knut J. Ims Norwegian School of Economics and Business Administration, Bergen

The module introduces the concept of holistic problem-solving inspired by Ian Mitroff. The main idea is to avoid solving the wrong problem precisely. As a frame of reference we will present a model that shows four perspectives on every problem; technical/scientific, interpersonal/social, systemic and existential. One challenge is to work with problems from multiple perspectives, and be aware of the importance of individual psychology, different professions, different organizational roles, which influence the perception of problems and the matching solutions.

Evidence indicates that there are a number of limits on each organizational member, who might rather be called “administrative man” than “economic man”. The “administrative man” shows bounded rationality, uses “rule of thumb” decision rules. In a system view, ethical, emotional, symbolic, and existential factors are to be taken into account. In particular the examination of relevant stakeholders is crucial for how we see and solve problems.


• Knut J. Ims and Laszlo Zsolnai: “Holistic Problem Solving,” The Future International Manager, Chapter 6.


• Knut J. Ims and Laszlo Zsolnai (2006): “Shallow Success and Deep Failure,” in: Laszlo Zsolnai and Knut J. Ims (eds): Business Within Limits. Deep Ecology and Buddhist Economics. Oxford: Peter Lang Academic Publisher.


THE PROGRAM

14.00–17.30 Cooperating with Social and Political Actors

Zsolt Boda Corvinus University of Budapest

Eleanor O’Higgins University College Dublin and London School of Economics

Today businesses are operating under growing complexity. New and increas-ingly sophisticated technologies with unpredictable effects upon the life and health of people, deepening environmental problems and the challenge of sustainability, or the cultural diversity imposed by globalization contribute to the complexity companies must cope with. Businesses must deal with the increasingly diverse expectations of the stakeholders towards them. Responsible management requires the cooperation with, and inclusion of, different social actors in decision making. Companies should get prepared for working with civil society organizations, which is not necessarily an easy task.

Another problem is the relation of companies to different levels of governments. Businesses have increasing power to influence political decision making, on one hand. Pro-market policies, privatization of public services, PPPs represent new opportunities for companies to work closely with governments, on the other. These developments raise the issues of ethical lobbying and transpar-ency in corporate-government relations. The governance problems of the global economy also underline the necessity of businesses, governments and civil society organizations working together in setting and enforcing norms on the global level.



• Zsolt Boda, Eleanor O’Higgins and Kuno Schedler: “Cooperating with Social and Political Actors,” The Future International Manager, Chapter 7.


• Eleanor O’Higgins (2001): “What Matter Most? The Importance of All Stakeholders,” Strategic Investor Relations, Spring.

• “BAE Case (2008): Lords Rule SFO Was Lawful in Halting BAE Arms Corruption Inquiry,” Guardian, July 30 2008.


F R I D A Y ••••••••••••••••••••••••S e p t e m b e r 5 , 2 0 0 8

9.00–12.30 Engaging in Progressive Entrepreneurship

Antonio Tencati Bocconi University Milan


Shareholder value maximization and competitiveness are at the core of today’s business and economic policy. Companies seek to improve their productivity and try to gain competitive advantage. But these efforts often produce nega-tive effects on various stakeholders at home and in abroad. Competitiveness involves self-interest and aggressivity and in most cases produces monetary results for the shareholders at the expense of other stakeholders.

Based on the arguments developed by the Lisbon Group chaired by Riccardo Petrella, London Business School professor, the late Sumantra Ghoshal, and Canadian management guru, Henry Mintzberg we criticize the one-dimensional pursuit of profit and competitiveness of contemporary business. We think that the exclusive focus on monetary results (especially short-term shareholder value) is detrimental for nature, society, future generations and finally for business itself.

THE PROGRAM


In fact, the strength and sustainability of enterprises come from their ability to fit into the environmental, social and cultural context in which they operate. By creating values for all stakeholders the progressive enterprises can involve them and get deep support based on their commitment. This may lead to superior performance from a multiple-bottom-line perspective.


• A. Tencati, F. Perrini, N. Hofstra, and L. Zsolnai: “Engaging in Progressive Entrepreneurship” The Future International Manager, Chapter 8.


• Tencati, A., L. Zsolnai (2008): “The Collaborative Enterprise,” Journal of Business Ethics, (forthcoming).

• Mintzberg, H. (2007): “How Productivity Killed American Enterprise,” http://www.mintzberg.org/.


S A T U R D A Y •••••••••••••••••••••S e p t e m b e r 6 , 2 0 0 8

10.00–12.00 Written Exam

THE PROGRAM


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G_kar_PHD_kek.indd 1 5/5/08 3:11:24 PM

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