New Models of Business in Society

Go to Course: https://www.coursera.org/learn/uva-darden-business-society

Introduction

### Course Review: New Models of Business in Society The **New Models of Business in Society** course, offered by the Darden School of Business at the University of Virginia on Coursera, presents a compelling exploration into the evolving narrative surrounding the role of business in society. With the growing emphasis on corporate responsibility and ethical business practices, this course provides timely insights and a comprehensive understanding of how businesses can generate value beyond mere profit for shareholders. #### Overview of the Course Crafted and delivered by top-ranked faculty from a prestigious institution, the course sets out to better articulate the emerging story of business—one that acknowledges its integral position within societal frameworks. The syllabus is structured thoughtfully, addressing both the historical context and current paradigms that define contemporary business practices. #### Detailed Syllabus Breakdown 1. **Business in Society: The Problem** The course begins by interrogating the traditional narrative of business, highlighting its flaws—particularly in light of events like the global financial crisis. This introductory module lays a foundational understanding of why the existing business models must evolve to better align with societal needs. 2. **Corporate Philanthropy and Corporate Social Responsibility** In the second module, learners explore the past and present of corporate philanthropy and social responsibility, alongside the pressing environmental crises the world faces today. This segment enables participants to recognize the importance of integrating ethical practices into business strategies and motivates them to advocate for responsible corporate behavior. 3. **Creating Value for Stakeholders** As the course progresses, the focus shifts to a stakeholder-centric approach. Here, participants delve into what it means to create tangible value for various stakeholders, such as customers, employees, and communities. This module emphasizes that businesses should aim to achieve a balance between profitability and societal contribution, shedding light on how companies can operate sustainably. 4. **Becoming a Stakeholder Entrepreneur** The final module equips participants with practical tools to become stakeholder entrepreneurs. By analyzing real-world examples, learners are inspired to develop their own visions of how to implement stakeholder-centric practices in their own ventures or workplaces. This culminates in a reflective opportunity to consider the next steps in pursuing this innovative business model. #### Key Insights and Benefits One of the standout features of this course is its blend of theoretical frameworks with practical applications. Participants gain not only knowledge but also the mindset necessary to challenge traditional business paradigms. The integration of case studies and contemporary issues makes the learning experience both relevant and engaging. Moreover, the course encourages critical thinking about the role of business in society and fosters a commitment to ethical leadership. By examining various models and approaches, learners are well-equipped to advocate for positive change within their respective organizations and industries. #### Who Should Enroll? This course is highly recommended for business students, professionals in corporate roles, entrepreneurs, and anyone interested in understanding the intersection of business and social responsibility. It offers valuable insights for those looking to pivot towards more dedicated corporate social initiatives or integrate sustainable practices into their business operations. ### Final Recommendation In conclusion, the **New Models of Business in Society** course stands out as an essential resource for anyone interested in the future of business within a societal context. Its thorough examination of the evolving narrative around corporate responsibility, combined with actionable insights and strategies, make it a must-take course for aspiring stakeholder entrepreneurs and conscientious business leaders. If you are passionate about making a difference through business, enrolling in this course could be a transformative step in your professional journey.

Syllabus

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.

In our second module, we discuss both the histories and current issues surrounding corporate philanthropy, corporate social responsibility, and the environmental crisis.

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.

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.