Core Assumptions in Business Theory
by
Subramanian Rangan
ISBN: 9780198944218
Publication Date: 2025-08-08
The modern market-based economy generates great wealth, but it lags on well-being; it has mastered efficiency, but struggles with equity; it boasts size, but falls short on sustainability. In other words, our economy delivers performance but neglects progress (i.e., fairness, well-being, and sustainability). Many rightly call for tighter regulation, higher (“true”) prices, and longer-term incentives. Others appeal to corporate purpose, shared value, and stakeholder-centrism. Beyond smarter regulation and the reformed practice of business, we must attend as well to education and a reformed theory of business...