Abstract
Jack Welch, dubbed “Manager of the Century” by Fortune magazine in its review of twentieth-century business, multiplied General Electric’s market value from $14 to $400 billion during his twenty-year tenure and he continues to be a role model for business leaders and certainly many of our M.B.A.s.1 But one of his final acts, according to insiders, “left GE looking like a bunch of slugs.”
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Notes
For Jack Welch as “manager of the century,” see Peter Petre, Brent Schlender, Thomas Stewart, and Alex Taylor III “Businessman of the Century,” Fortune (November 01, 1999).
For GE and the Hudson, see Natural Resources Defense Council, “Healing the Hudson,” online at www.nrdc.org; Clearwater, “The Hudson River PCB story,” online at www.clearwater.org.
For what are companies’ responsibilities?, see Sandra Waddock, Leading Corporate Citizens: Visions, Values, Value Added, 2nd edition (New York: Irwin, 2005).
For three tactics, see “Global Survey of Business Executives,” The McKinsey Quarterly (January, 2006), online at www.mckinseyquarterly.
For reputation and market value, see Charles J. Fombrun and Cees Van Riel, Fame and Fortune: How Successful Companies Build Winning Reputations (New York: Financial Times Prentice-Hall, 2003).
For CEO’s primary social responsibility, see John Welch, Jack: Straight from the Gut (New York: Warner Business Books, 2003).
For turned IBM around, see Louis V. Gerstner, Jr., Who Says Elephants Can’t Dance? Inside IBM’s Historic Turnaround (New York: HarperBusiness, 2002).
For firms like Ben & Jerry’s, see Howard Rothman and Mary Scott, Companies with a Conscience, 3rd edition (San Francisco: Myers Templeton Publishers, 2004).
Jeffrey Hollender and Stephen Fenichell, What Matters Most: How a Small Group of Pioneers Is Teaching Social Responsibility to Big Business, and Why Big Business Is Listening (New York: Basic Books, 2003).
For hybrid enterprises, go to the Center’s Web site: bcccc.net and also to The Center for Business as an Agent of World Benefit, The Case Weatherhead School of Management, “Innovation Bank,” http://worldbenefit.cwru.edu/innovation.
For over 200,000 new citizen groups and other statistics on NGOs, see John Hopkins Institute for Policy Studies, Center for Civil Society Studies, online at www.jhu.edu/~ccss; on growing sociocommercial work on NGOs see The Democracy Collaborative of the University of Maryland, The New Asset-Based Approach to Solving Social and Economic Problems (Washington, D.C.: Aspen Institute, April, 2005).
For multisector partnerships, see World Economic Forum, Partnering for Success: Business Perspectives on Multistakeholder Partnerships (Geneva, Switzerland: WEF, 2005); also see Business Civic Leadership Center, “Strengthening Public-Private Partnerships for Social and Economic Development” (Washington, D.C.: BCLC, September 2006).
For myths and lapdogs, see Deborah Doane, “The Myth of CSR,” Stanford Social Innovation Review (Fall, 2005), and Mark Kramer and John Kania, “Changing the Game,” Stanford Social Innovation Review (Spring, 2006), both online at www.ssireview.org.
For preparadigmatic phase, see Dirk Matten and Andrew Crane,“Corporate Citizenship: Toward an Extended Theoretical Conceptualization,” Academy of Management Review 30, no. 1 (2005): 166–79.
For a big corporation view, see Niall Fitgerald and Mandy Cormack, The Role of Business in Society: An Agenda for Action, The Conference Board, Harvard University’s Kennedy School of Government and International Business Leaders Forum (October 3, 2006).
For studying centuries of discoveries, see Gunther S. Stent,“Prematurity and Uniqueness in Scientific Discovery,” Scientific American 227 (1972): 84–93.
For stakeholder theory, see R. Edward Freeman, Strategic Management: A Stakeholder Approach (Boston: Pitman, 1984).
For term has gained traction, see stakeholder citations reported by James Walsh,“The Rise of Stakeholder Thinking: A Theory and Practice Keyword Search,” Business as an Agent of World Benefit Global Forum. Case Western Reserve University (October 25, 2006).
For TBL, see John Elkington, Cannibals with Forks: The Triple-Bottom Line of 21st Century Business (London: Capstone/John Wiley, 1997).
For integrative logic of citizenship, see Henri C. de Bettignies, “Reviewing Meanings and Contexts of Role of Business in Society.” Presentation at the launch of the European Academy of Business in Society (Fontainebleau, France, July 5, 2002). One sign of acceptance of new and more encompassing ideas is their shortening in everyday language: think “e-commerce” or “flex-time” or “C-suite.” Another indicator is their expression via an acronym: in this field see CSR, CC, CR, TBL (or 3BL), and the latest, Corporate Social Innovation or CSI.
For best of both worlds, see Gerald F. Davis, Marina van N. Whitman, and Mayer N. Zald, “The Responsibility Paradox: Multinational Firms and Global Corporate Social Responsibility,” Social Science Research Network (SSRN), http://ssrn.com/ abstract=899112.
For CSR is limited as an agenda, see Ian Davis,“The Biggest Contract,” The Economist (May 16, 2005); see also Sheila M. J. Bonini, Lenny T. Mendonca, and Jeremy M. Oppenheim, “When Social Issues Become Strategic,” McKinsey Quarterly 2 (2006), both online at www.mckinseyquarterly.com
For this implicates the whole value chain, see Steven Rochlin, “Llevar la responsabilidad corporativiva al AND de su empresa,” Harvard Business Review (Latin America) (August, 2005).
Charles Handy, The Elephant and the Flea: Reflections of a Reluctant Capitalist (Boston: Harvard Business School Press, 2002).
For Revolutionary Renewal, see David S. Bright, Ronald E. Fry, and David L. Cooperrider, “Transformative Innovations for the Mutual Benefit of Business, Society, and Environment.” Business as an Agent of World Benefit Global Forum. Case Western Reserve University (October 25, 2006).
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© 2007 Bradley K. Googins, Philip H. Mirvis, and Steven A. Rochlin
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Googins, B.K., Mirvis, P.H., Rochlin, S.A. (2007). Next Generation Corporate Citizenship. In: Beyond Good Company. Palgrave Macmillan, New York. https://doi.org/10.1057/9780230609983_2
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