000			01393nam a22001577a 4500
999			_c518475 _d518475
008			210927b ||||| |||| 00| 0 eng d
100			_aValentinow, V. Roth, S. and Pies, I. _929511
245			_aSocial goals in the theory of the firm: A systems theory view
260			_aAdministration & Society
300			_a53(2), Feb, 2021: p.273-304
520			_aDrawing on Luhmannian social systems theory, this article revisits the single- versus multiple-objective debate on the theory of the firm. Firms are conceptualized as complexity reducing systems structurally coupled with potentially risky environments, and profit maximization is considered as a complexity reduction strategy for making sense of these environments. Whereas single-objective approaches reflect cases when environmental risks do not materialize into corporate sustainability problems, multiple-objective approaches address these problems by increasing the corporation’s environmental responsiveness beyond the profit maximization function. Our systems-theoretic framework therefore identifies the common ground between the two approaches and draws attention to the circumstances under which they can claim validity. – Reproduced
650			_aNiklas Lluhmann, Social goals of the firm, Systems theory, Theory of the firm _927683
773			_aAdministration & Society
906			_aSOCIAL SYSTEMS
942			_cAR