Il governo dell’impresa tra profitto e creazione di valore

Abstract

This contribution analyses both the origin and meaning of the notions of profit and value creation, and their reciprocal relationship in the light of the evolution of capitalism. Two distinct logics are particularly identified concerning “production” and “distribution” of profit. Prevalence of the latter compromises the inherently residual nature of profit, which is thus ex-ante contracted by the ownership of the firm. On the contrary, the productive logic emphasizes the importance to safeguard both the economic efficiency and vitality of the firm. Transition from profit to value leads to reflect upon the function and role of the firm within the current economical, social, political and institutional context. Indeed, when analyzed from a systemic perspective rather than a dyadic one, value creation appears to be the logic that must qualify the government action in order to reconcile production and distribution of profit, competitiveness and consonance between “art” and “science”, and finally trace the role of the firm back to its historically acknowledged and socially legitimated function in terms of both an “economic means”, and a “social institution”.