MANAGING WITH PURPOSE
From Craftsmen to Artificial Intelligence: Bringing back Humanism into Management
The debate on the concept of corporate purpose, both from an academic and practice perspective, is on the rise. At its heart lies the notion of striking a balance between the pursuit of profit and the maintenance of a meaningful and lasting purpose. The theory of shareholder value clearly demonstrated the limits of a focus on profit-maximization. Stakeholder theory served to call attention to the value of the voices of other stakeholders, but directed a deal of its attention towards the comparison and the balance of different interests. Today, the identification, articulation and maintenance of a meaningful and shared purpose has become a central issue for many organizations. Business leaders are encouraged to embrace the idea that companies must go beyond the profit motive. They must also create value by helping society to provide new solutions to a growing array of challenges.
Managing with Purpose is a strategic assumption that creates value, enhances impact, and fosters longevity. It reflects something more aspirational than the search for profit through economic exchanges. It explains how the people involved in the organization can make the difference, giving them a sense of meaning and drawing their support. It is about people coming together to do something they believe in and allowing profit to follow as a consequence of their collective endeavor rather than being an end in itself. However, despite a growing body of research on the topic, many questions remain. How is Purpose defined? How many purposes can an organization have? How do organizations deliver a sense of purpose to their various internal and external stakeholders and what are the inherent tradeoffs that have to be faced? There are no easy answers to these questions. Scholars, leaders, and organizations need to work together to combine and exchange their knowledge and co-create new models and approaches.
Florence, as well as being a thriving commercial center, is also a city of unrivaled historical, architectural and artistic significance. As the gathering place for our 25th Anniversary Conference, the splendor of the cityscape as a backdrop will provide the opportunity not just to reflect on the meaning and value of corporate purpose, but to rekindle the very essence of humanism, and its lessons for human dignity, development and accomplishment.
We welcome scholars to submit their research to the EURAM 2025 Conference and we look forward to seeing you in Florence.