{"title":"Toward a theory of business","authors":"Thomas Donaldson , James P. Walsh","doi":"10.1016/j.riob.2015.10.002","DOIUrl":null,"url":null,"abstract":"<div><p>What is the purpose of business? While most agree that business minimally involves the creation of value, a blurred double image of value haunts our discussion of purpose. The image of what counts as value for a single firm is laid atop an image of what counts as value for business in general. These two images cannot match. Indeed, the resulting conceptual blurriness is a classic example of a composition fallacy. We should never mistake the properties of a part for the properties of the whole. A theory of the firm is ill equipped to handle the many expectations we hold for business practice. As such, we seek to establish the beginnings of a theory of business, one that is both empirical and normative. Offering four central propositions about the purpose, accountability, control and success of business, we close with a consideration of several important theoretical issues and practical opportunities that await us in the years ahead.</p></div>","PeriodicalId":56178,"journal":{"name":"Research in Organizational Behavior","volume":null,"pages":null},"PeriodicalIF":3.1000,"publicationDate":"2015-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.riob.2015.10.002","citationCount":"205","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Research in Organizational Behavior","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0191308515000088","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 205
Abstract
What is the purpose of business? While most agree that business minimally involves the creation of value, a blurred double image of value haunts our discussion of purpose. The image of what counts as value for a single firm is laid atop an image of what counts as value for business in general. These two images cannot match. Indeed, the resulting conceptual blurriness is a classic example of a composition fallacy. We should never mistake the properties of a part for the properties of the whole. A theory of the firm is ill equipped to handle the many expectations we hold for business practice. As such, we seek to establish the beginnings of a theory of business, one that is both empirical and normative. Offering four central propositions about the purpose, accountability, control and success of business, we close with a consideration of several important theoretical issues and practical opportunities that await us in the years ahead.
期刊介绍：
Research in Organizational Behavior publishes commissioned papers only, spanning several levels of analysis, and ranging from studies of individuals to groups to organizations and their environments. The topics encompassed are likewise diverse, covering issues from individual emotion and cognition to social movements and networks. Cutting across this diversity, however, is a rather consistent quality of presentation. Being both thorough and thoughtful, Research in Organizational Behavior is commissioned pieces provide substantial contributions to research on organizations. Many have received rewards for their level of scholarship and many have become classics in the field of organizational research.
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