This conceptual paper aims to show that the concept of homo economicus as the foundation of management needs to be discarded and replaced by the concept of humanistic enterprise in order to ensure the well-being of stakeholders and preservation of the environment. A combined and crossed study of the philosophies of Buddha, Confucius, Aristotle and Pope Francis is used as a desirable spirit for a renewed management paradigm. The concept of homo economicus, with its stress on the maximization of profit, has created deadly negative externalities for social well-being and the preservation of the environment. Consequently, the time has come to radically alter this economic and management paradigm and adopt a new paradigm with the aim of ensuring the well-being of populations inside and outside firms and the preservation of the natural environment with a view to long-term sustainability. It is hoped that this paper can be a guide for enterprises wishing to set up and implement a durable humanistic management, wherever in the world.