New Models of Business in Society

In this course, developed at the Darden School of Business at the University of Virginia and taught by top-ranked faculty, we will be discussing the emergence of a new story about business. This new story locates business within a societal framework. Almost every business creates or destroys value for customers, suppliers, employees, communities and society, in addition to shareholders and other financiers. A number of new models of business can be built on this idea such as corporate responsibility, philanthropy, shared value and sustainability. Profits and stakeholder value go together, and this course explains how. The final session explores the idea of how to become a stakeholder entrepreneur and create a business that makes money and makes the world a better place.

• Business in Society: The Problem
• We will begin the course learning the dominant story of business and discussing the four flaws in the dominant story. We will learn about the global financial crisis and how a new story is now emerging.
• Corporate Philanthropy and Corporate Social Responsibility
• In our second module, we discuss both the histories and current issues surrounding corporate philanthropy, corporate social responsibility, and the environmental crisis.
• Creating Value for Stakeholders
• In our third module, we look at the stakeholder approach to business, it's purpose and what it looks like to create value for stakeholders.
• Becoming a Stakeholder Entrepreneur
• We close the course by learning how to become a stakeholder entrepreneur by discussing specific examples. This module concludes with an opportunity for what your next steps might be as a stakeholder entrepreneur.