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Lynn Sharp Paine – Value Shift
Lynn Sharp Paine – Value Shift
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“Lynn Paine has an optimistic analysis of the need for–and the value of–bringing ethical values into business decision-making. The ‘meltdown’ of so many high-flyers reecntly suggests that lesson had been lost on too many companies during the boom years. The time has come to take account of what she writes.”–Paul A. Volcker
“This book presents a way of broadening the role of the corporation in our society, an interesting and exciting role. It’s a good read for young leaders in all walks of life.”–John C. Whitehead, former Chairman, Goldman Sachs
“Value Shift provides a timely and compelling argument for why companies must incorporate values into their strategies–that no one in business can afford to ignore.”–Daniel Vasella, Chairman + CEO /Novartis AG
From Publishers Weekly
Harvard Business School professor Lynn Sharp Paine had been studying corporate malfeasance long before the Enron debacle. In her forthcoming book, Value Shift: Why Companies Must Merge Social and Financial Imperatives to Achieve Superior Performance, she attempts to introduce readers to an “emerging new standard of corporate performance one that encompasses both moral and financial dimensions.” Based on her researching, teaching and consulting experiences over the past 20 years, Paine has amassed an in-depth understanding of corporate values. She uses examples culled from these experiences to explain the growing emphasis on values, why this changing attitude is important and what the shift means for managers. She ends the book with advice for managers on setting up an organizational infrastructure, hiring employees whose views align with a company’s value system and more. This is an important book for ethics-minded managers.
Copyright 2002 Reed Business Information, Inc.
“Lynn Paine has an optimistic analysis of the need for–and the value of–bringing ethical values into business decision-making.” — Paul A. Volcker; June 2002
“This book presents a way of broadening the role of the corporation in our society [and is] a good read.” — John C. Whitehead, former Chairman of Goldman Sachs; June 2002
From the Back Cover
During the past two decades, leading companies around the world have launched values initiatives, ethics programs, code of conduct projects, or legal compliance efforts. An estimated 80 percent to 90 percent of America’s large and midsize corporations have adopted written ethics guidelines. Over half the Fortune 100 have appointed ethics or compliance officials. Why, then, have so many well-known companies–Enron, Tyco, Xerox, and others–recently come under scrutiny for questionable business practices?
Harvard Business School Professor Lynn Sharp Paine argues that the problem lies not in a sudden outbreak of corporate venality but in a mismatch between how many companies are managed and what’s expected of them by society today. Instead of adding more new programs and initiatives, today’s corporate leaders need to go back to basics and adopt a qualitatively different kind of management. In Value Shift they will find an approach that is suited to the corporation’s contemporary role in society–an approach aimed at melding high ethical standards with outstanding financial results.
Gone are the days when companies were thought of as purely amoral devices for managing pools of capital. The centuries-old doctrine of corporate amorality, still maintained by some theorists, has outlived its time. As corporations have become a pervasive presence in society, expectations for their behavior have also evolved. Today, it is not enough for leading companies to create wealth and produce needed goods and services. They are also expected to behave responsibly, adhere to basic moral principles, and manage their own values and commitments.
Value Shift articulates exactly why the superior performers of the future will be companies that can satisfy both the social and financial expectations of their constituencies. By explaining the larger forces driving the current focus on scandals and ethics, Value Shift points to a new era in the corporation’s development and shows what managers can do to align their companies’ performance with the higher standard expected today.
About the Author
Lynn Sharp Paine, D.Phil., J.D., is a John G. McLean Professor and at the Harvard Business School. She is a member of The Conference Board’s Blue-Ribbon Commission on Public Trust and Private Enterprise, and consults to companies worldwide on leadership and values. Her articles have appeared in Harvard Business Review and other major business journals, and she is the author of the casebook Leadership, Ethics, and Organizational Integrity.
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