ABSTRACT
Value created by an architecture firm can be understood in terms of the returns it generates for its owners, the building spaces it designs and the comfort, functionality, efficiency, and safety it provides – the same kind of triad any other company generates. Value is what stands at the very center of this relationship. Value created for society was firmly held in opposition to the value created for business; the great trade-off became seen as an immutable reality. As social and environmental pressures penetrated every aspect of business reality, the assumption of a trade-off between shareholder value and stake-holder value was increasingly questioned. When value is transferred from shareholders to stakeholders, the company incurs a fiduciary liability to its shareholders. The inclusion of stakeholder theory in business strategy dates back to Edward Freeman's work in the early 1980s. Recognizing the need to manage the monumental risks posed by sustainability pressures, it was business that took up the call to action.
