A review of “A New Vision of Value” – old wine, new bottle
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Abstract
Purpose This paper is a review of KPMG’s true value methodology. It highlights how a positive for the methodology is its advance of a systemic perspective, with the challenge being its furthering of an agenda of corporate centricity, where money is the mediator for societal decisions.
Design/methodology/approach This paper draws on existing literature to develop its arguments.
Findings The paper highlights how the true value methodology has merit for furthering a move towards the embrace of a more systemic thinking by business leaders; for example, how organisations are nested in society, not separate from society. However, the methodology is a cause for concern, because, for “true value” (ibid, p. 3) to be identified, albeit the notion of true value is one that stuns with its hubris, there is a need to monetise all exchanges and have corporations make societal well-being decisions based on monetary calculations as opposed to moral or ethical considerations. Thus, the methodology is advancing a corporate centric and narrowly defined perspective on what constitutes societal progress.
Research limitations/implications This paper is a review of the methodology with some critique and implications for management, leadership and culture discussed.
Practical implications The arguments presented highlight how the methodology furthers a particular perspective, and thus it should, like all tools, be used with an understanding of its limitations.
Social implications A key social implication brought forward in the paper is a corporate-centric perspective on societal progress. This corporate-centric perspective ensures that although a more systemic perspective is taken, society is viewed as a little more than a servant of the corporation.
Originality/value In drawing on existing literature, the originality lies in the combination of arguments brought together to realise the central claims.
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Sustainability Accounting, Management and Policy Journal
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7
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4
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© 2016 Emerald. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
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Subject
Economics
Human society
Commerce, management, tourism and services
Sustainable development
Integrated reporting
Economic rationality
Corporate centric
True value methodology