The Evolution of Value by Wayne Visser

A series of articles by Wayne Visser that explore the evolution of value in society as a concept and in practice, especially from the perspective of business value creation, including: subsistence, shareholder, stakeholder, multi-capital value, triple-bottom-line, blended, inclusive, sustainable, shared, integrated and thriving value.

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Innovation & Technology

Understanding Sustainable Value
The idea of sustainable value - a framework developed by Stuart Hart and Mark Milstein - is to highlight sustainable business strategies which improve performance in all four quadrants of the shareholder-value framework.

Diversity & Inclusion

Understanding Inclusive Value
A new concept of value shined a spotlight on the value that economic inclusion of low-income markets represents. This was described by strategy professors C.K. Prahalad and Stuart Hart as the opportunities at the bottom or base of the pyramid (BOP).

Sustainable Finance & Socially Responsible Investment

Understanding Blended Value
Another thought-leader in redefining value is Jed Emerson. In 2000, grounded the emergent field of impact investing, he introduced “blended value” – value that is a blend of economic, environmental and social factors, where maximising value requires taking all three elements into account.

Sustainable Development Goals

Understanding Triple-Bottom-Line Value
The late eighties and early nineties were a watershed period for our global society.

Sustainable Finance & Socially Responsible Investment

Understanding Multi-capital Value
In reaction to shareholder value and inspired by the social, environmental and stakeholder movements, the 1990s saw the emergence of “new economics” - and broadening financial capital to include other capitals, like natural, social and human capital.

Responsible Business & Employee Engagement

Understanding Stakeholder Value
In reaction to the prevailing shareholder value logic – and especially the idea that companies have a legal, fiduciary duty to place their needs above all others – the concept and practice of stakeholder value emerged in 1984. This article looks at its evolution over the ensuing decades.

Sustainable Finance & Socially Responsible Investment

Understanding Shareholder Value
The shareholder value doctrine suggests that companies and their managers should only do something that’s good for society when it is simultaneously and demonstrably good for business. This belief is increasingly being questioned and challenged.

Responsible Business & Employee Engagement

Understanding Subsistence Value
Our understanding of value creation in society, especially by business, must begin by understanding subsistence value. This is the first in the Evolution of Value article series by Prof. dr Wayne Visser
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