A review of "A New Vision of Value" – old wine, new bottle. Issue 4 (7th November 2016)

• Record Type: Journal Article
• Authors: Barter, Nick
• Is Part Of: Sustainability accounting, management and policy journal. Volume 7:Issue 4(2016)
• Page Start: 531
• Page End: 538
• Publication Date: 2016-11-07
• Subjects: Sustainable development -- Integrated reporting -- Economic rationality -- Corporate centric -- True value methodology; Social accounting -- Periodicals; Sustainable development reporting -- Periodicals; Social responsibility of business -- Periodicals; Industries -- Environmental aspects -- Periodicals; 658.40805
• DOI: 10.1108/SAMPJ-12-2015-0111
• Languages: English
• ISSNs: 2040-8021

Abstract

Abstract : Purpose: This paper is a review of KPMG's true value methodology. It highlights how a positive for the methodology is its advance of a systemic perspective, with the challenge being its furthering of an agenda of corporate centricity, where money is the mediator for societal decisions. Design/methodology/approach: This paper draws on existing literature to develop its arguments. Findings: The paper highlights how the true value methodology has merit for furthering a move towards the embrace of a more systemic thinking by business leaders; for example, how organisations are nested in society, not separate from society. However, the methodology is a cause for concern, because, for "true value" (ibid, p. 3) to be identified, albeit the notion of true value is one that stuns with its hubris, there is a need to monetise all exchanges and have corporations make societal well-being decisions based on monetary calculations as opposed to moral or ethical considerations. Thus, the methodology is advancing a corporate centric and narrowly defined perspective on what constitutes societal progress. Research limitations/implications: This paper is a review of the methodology with some critique and implications for management, leadership and culture discussed. Practical implications: The arguments presented highlight how the methodology furthers a particular perspective, and thus it should, like all tools, be used with an understanding of its limitations. Social implications: A key social implication brought forward in the paper is a corporate-centric perspective on societal progress. This corporate-centric perspective ensures that although a more systemic perspective is taken, society is viewed as a little more than a servant of the corporation. Originality/value: In drawing on existing literature, the originality lies in the combination of arguments brought together to realise the central claims.