New Models of Business in Society

Course Provided by: University of Virginia
Course Taken on: Coursera
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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.


  • New models of how to run an effective business that makes the world a better place
  • Corporate responsibility, philanthropy, and building sustainable value
  • Creating value for stakeholders through conscious capitalism and stakeholder theory
  • How to develop a business idea that makes money and makes the world a better place


  • Business in Society: The Problem
  • Business in Society: Course Overview
  • The Dominant Story of Business
  • Four Flaws in the Dominant Story
  • The Fourth Flaw
  • The Global Financial Crisis
  • New Story is Emerging
  • About the Professor
  • Business in Society: The Problem
  • Corporate Philanthropy and Corporate Social Responsibility
  • Corporate Philanthropy History
  • Corporate Philanthropy Current Issues
  • Corporate Social Responsibility
  • Corporate Philanthropy and Corporate Social Responsibility: Next Steps
  • The Environmental Crisis Argument
  • The Shades of Green Argument
  • The Challenges of Environmentalism
  • Corporate Responsibility, Philanthropy and Building Sustainable Value: The Role of Capitalism in Society
  • Creating Value for Stakeholders
  • The Emergence of a Stakeholder Approach to Business
  • It's Purpose, Not Profits
  • The Interconnection and No Trade-off Principles
  • The Friction Principle
  • Examples of Creating Value for Stakeholders
  • Conscious Capitalism
  • Employee Engagement
  • Creating Value for Stakeholders
  • Becoming a Stakeholder Entrepreneur
  • Social Entrepreneurship to Stakeholder Entrepreneurship
  • Husk Power
  • Maggie's Ethical Auto Repair
  • Red Goat Records and Passion
  • Can One Person Make a Difference?
  • Summary and Next Steps
  • Becoming a Stakeholder Entrepreneur