Ontological Foundations of Stakeholder Dignity and Well-Being – Concepts and Measurement

Abstract

In this paper, I am examining the foundational assumptions of human nature (ontology) that guide current corporate governance and strategy. I question these assumptions based on the latest findings from the sciences and propose an alternative, humanistic ontology. This ontology allows us to understand human dignity and well-being based on four independent evolutionary drives that managers need to satisfy. I then report on measures we developed and tested to assess the four drive model. The measurement scales developed show high predictive validity with well-being and dignity. They also show high explanatory power for work related constructs such as employee engagement and motivation. I propose that these measurement scales can help managers assess their impact on stakeholder well-being.

Keywords: Humanistic Management, Dignity, Well Being, Measurement, Stakeholder Well Being, Ontology

JEL Classification: J00, M00, N00, P00