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Designing sustainable business with the base of the pyramid

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Traditional economic and financial approaches promoted profit orientation and the maximisation of shareholder wealth as the key goals of the firm (Friedman 1970). Therefore, in this perspective, the role of managers should primarily be to look after the interests of shareholders (Fama 1980).

Stakeholder theory moved attention from the mere economic and financial goals of shareholders to the more complex interests of a variety of social stakeholders (Freeman 1984). More recently, the shared values framework invited firms to rebalance their economic and financial interests in order to create wider social and environmental impacts with their stakeholders (Porter and Kramer 2011).
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Keywords: responsible business management; sustainability; sustainable management; sustainable marketing; sustainable supply chain

Document Type: Research Article

Publication date: March 17, 2017

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