The “Linked Prosperity” Model as an Integrated Response to Corporate Management Challenges in a Network Society

Vladimir Milovidov ()
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Vladimir Milovidov: MGIMO University (Russia)

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2020, vol. 14, issue 4, 112-120

Abstract: In the context of technological and social changes, business faces the challenges of a more complex operating environment. New business models are required that take into account an unprecedentedly wide range of emerging factors. Among such approaches, an integral model stands out, which allows one to adapt to a new level of development of society and master a new context. The approaches to the development of an integral model are still in the process of formation, since a deeper study of the modern network society, its values, guidelines, and preferences is required. Taking into account such complexity requires non-linear approaches and thinking in terms of complex, dynamic systems. From this point of view, when interacting with the increasingly complex environment, it is advisable for companies to view themselves as an element of a large-scale system of horizontal, social ties, in which the idea of social responsibility acquires new meanings. It is especially difficult to implement integral approaches within the framework of traditional thinking due to the variety and multi-layered factors that change the context of companies' activities. The transformation of corporate governance and approaches to social responsibility is a non-linear process driven by a chain of events related to changes in consumer behavior and other aspects. Such exponential changes are characterized by profound and cumulative consequences, radically changing the spheres of activity, social relations, and institutions. This article demonstrates the case of a company that, despite the difficulties, managed to implement a similar approach and maintain a dynamic pace of development.

Keywords: integrated management model; corporate governance; business model; sustainability; network society; stakeholders; corporate citizenship; linked prosperity; joint-stock companies; corporate social responsibility (search for similar items in EconPapers)
JEL-codes: D85 D91 L14 (search for similar items in EconPapers)
Date: 2020
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