The Corporation in the Twenty-First Century

John Kay asks what the modern corporation is actually for, and why the answer economists gave a generation ago no longer describes how large firms operate. The Corporation in the Twenty-First Century traces the company as an institution through its history, from ownership of physical assets to businesses whose value sits in knowledge, reputation and networks. Kay examines profit maximisation as a doctrine, the claims made for stakeholder capitalism and governance reform, and the way globalisation, technology and widening inequality have altered what strategy has to account for. The argument is historical and empirical rather than prescriptive, which makes it useful for readers tired of management slogans. What this book does well: • An institutional history of the firm rather than a strategy manual • Analysis of shareholder value, governance reform and stakeholder claims • Discussion of how globalisation and technology reshaped corporate structure • Economic argument written for general readers as well as specialists Written for business students, policymakers and readers of economic non-fiction. Published by Hachette and available at Boipoka.