Developing sustainable management theory: goal-setting theory based in virtue

Abstract

Purpose– This paper responds to ongoing calls to develop alternative management theory to guide management practice. In particular, the purpose of the paper is to demonstrate the merit of developing sustainable management theory and organizational practices that parallel conventional management theory and practices. Sustainable theory is based on a variation of virtue theory that seeks to achieve multiple forms of well-being for multiple stakeholders in the immediate as well as distant future. To illustrate the approach, the authors develop a sustainable variation of goal setting theory.Design/methodology/approach– The paper includes three parts. First, the authors establish the need for developing sustainable management theory (based on virtue theory) that parallels conventional management theory. Second, the authors identify and briefly review the main tenets of goal setting theory and then describe a Sustainable variation of this theory. Finally, the authors discuss the implications of the paper for management and organization theory and practice.Findings– The conceptual arguments for a sustainable version of goal setting theory based in virtue are supported by research and practitioner examples.Originality/value– Although there is growing concern regarding the shortcomings of management theory and practice based on a materialist-individualist moral-point-of-view, few alternatives have been discussed in detail. This paper presents an alternative based in virtue theory and illustrates how it relates to goal setting theory and practice.