“Purpose and profit”: Economia Aziendale as a paradigm of sustainable business

Abstract

This article reflects on the role of Economia Aziendale in the current debate on corporate sustainability, emphasizing the relevance of purpose and the need of a systemic theory of the firm. Traditionally, the Anglo-Saxon neoclassical paradigm has prioritized profit maximization to satisfy the shareholders. However, recent events—the financial crisis, the pandemic, geopolitical instability, and the ongoing environmental emergency—have sparked an international discussion about the fundamental reasons for the establishment of businesses. The article aims to highlight the contributions of Italian Economia Aziendale and its scholars in this context, by exploring how this discipline can provide relevant insights nowadays. To facilitate a multi-perspective reflection, the article draws from various frameworks and incorporates viewpoints from a diverse range of stakeholders, including academics, scientists, corporate leaders, professionals, and institutional representatives. This engagement took place through eight focus groups and a series of working group’s meetings held from October 2021 to November 2023. Through these contributions, the article introduces three key elements to reflect on Economia Aziendale in the current landscape: i) the emphasis on the centrality of human beings, ii) the necessity of employing Economia Aziendale as a systemic theory in economics, iii) the implications of Economia Aziendale for defining corporate sustainability as a focal value that can fully address human needs.