Most business decisions during the past 100 years have been influenced by the shareholder theory, which mandates that the interests of shareholders are the key determinate in constructing operational plans and activities. However, this theory and its related practices are being challenged by the stakeholder theory, the “human capital” movement, and human-oriented leadership concepts which emphasize the importance of employee satisfaction and engagement in the attainment of organizational goals and objectives. This paper offers a re-interpretation of leadership that will lead to a major shift in the way educators and executives view the key role of employees in sustaining growth and competitiveness.
McNay, William R.
"A Re-Interpretation of Leadership Aligns Human Capital Management and Business Objectives,"
Journal of Executive Education:
1, Article 5.
Available at: http://digitalcommons.kennesaw.edu/jee/vol11/iss1/5