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The social value of business: lessons from political economy and process philosophy


Neesham, C and Dibben, M, The social value of business: lessons from political economy and process philosophy, Research in Ethical Issues in Organizations, 8, (1) pp. 63-83. ISSN 1529-2096 (2012) [Refereed Article]

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Copyright 2012 Emerald Group Publishing

DOI: doi:10.1108/S1529-2096(2012)0000008010


In this study we consider the role of business management in delivering good in society, from the perspective of the philosophical work of Adam Smith, Karl Marx and Alfred North Whitehead. We find that Whitehead’s process explanations of the nature of experience and consciousness articulate meaningfully with Smith’s idea of ‘self-love’ and Marx’s conceptualisation of ‘rich-experience’. As a result, we argue that business practice must reconnect with society in a more appropriate understanding of a good as something beyond a mere economic entity. Using principles of process thought, we make recommendations as to how this might be achieved in daily management practice.

Item Details

Item Type:Refereed Article
Keywords:social value, business management, business practice, political economy, process philosophy, philosophical and theological understandings of management in society and economy, metaphysics and the managerial experience, ethics
Research Division:Commerce, Management, Tourism and Services
Research Group:Strategy, management and organisational behaviour
Research Field:Corporate governance
Objective Division:Expanding Knowledge
Objective Group:Expanding knowledge
Objective Field:Expanding knowledge in commerce, management, tourism and services
UTAS Author:Dibben, M (Associate Professor Mark Dibben)
ID Code:79071
Year Published:2012
Deposited By:Management
Deposited On:2012-08-15
Last Modified:2018-02-21
Downloads:8 View Download Statistics

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