The Corporation: A circular process of value creation
DOI:
https://doi.org/10.14738/abr.65.4556Abstract
Corporate governance is not new. It reached new heights in the 1980s when corporations became dominant in the era of neoliberalism. Corporate governance is about the way power is exercised over corporate entities. It covers the activities of the board and its relationships with the stakeholders or members, and with those managing the enterprise, as well as the external auditors, regulators and other legitimate stakeholders. Good corporate governance is an attempt to make corporations behave more ethically. The corporation is driven by short term profit. Good governance is governing according to the following principles: Honesty, Transparency, Accountability, Responsiveness, Independence, and Fairness. A more circular perspective on corporate governance might result in a more ethical corporation.
References
Tricker, R. B., & Tricker, R. I. (2015). Corporate governance: Principles, policies, and practices. Oxford University Press, USA.
Kennedy, G. (2009). Adam Smith's Lost Legacy: On Smith’s Approach to Corporate Governance. Adamsmithslostlegacy.blogspot.com. Retrieved 3 January 2018, from https://adamsmithslostlegacy.blogspot.com/2009/10/on-smiths-approach-to-corporate.html
Bakan, J. (2016). The corporation as a pathological. The Political Self: Understanding the Social Context for Mental
Holborn Gray, H. (2018).The University in History: 1088 And All That. Iotu.uchicago.edu. Retrieved 29 January 2018, from http://iotu.uchicago.edu/gray.html
Meuleman, L. (2010). The cultural dimension of metagovernance: why governance doctrines may fail. Public Organization Review, 10(1), 49-70.
Brunninge, O., Nordqvist, M., & Wiklund, J. (2007). Corporate governance and strategic change in SMEs: The effects of ownership, board composition and top management teams. Small Business Economics, 29(3), 295-308. Primonederland.eu. Retrieved 9 January 2018, from https://primonederland.eu/wpcontent/uploads/2002/09/bossert-good-gevernance-de-leidraad-voor-goed-bestuur-en-management-artn.-68.pdf
Onofrei, M. (2007). Management financiar. CH Beck.
Brezeanu, P., & Stănculescu, A. (2008). Corporate governance models.VOL. VIII PART I, 15.
Mintzberg, H. (1984). Who should control the corporation?. California Management Review, 27(1), 90-115.
Korten, D. C. (1998). When corporations rule the world. European Business Review, 98(1).
Monbiot, G. (2016). Neoliberalism – the ideology at the root of all our problems. the Guardian. Retrieved 8 January 2018, from https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-georgemonbiot?CMP=fb_gu
Verhaeghe, P. (2014). Neoliberalism has brought out the worst in us | Paul Verhaeghe. the Guardian. Retrieved 8 January 2018, from https://www.theguardian.com/commentisfree/2014/sep/29/neoliberalism-economicsystem-ethics-personality-psychopathicsthic
Joseph Stiglitz on rewriting the rules of the market economy. (2018). YouTube. Retrieved 17 January 2018, from https://www.youtube.com/watch?v=ZyKkmzgge90
Wiegratz, J., & Whyte, D. (2018). How neoliberalism's moral order feeds fraud and corruption. The Conversation. Retrieved 8 January 2018, from https://theconversation.com/how-neoliberalisms-moral-order-feeds-fraud-andcorruption-60946
Gansky, L. (2010). The mesh: Why the future of business is sharing. Penguin. Garside, J. (2017). Paradise Papers leak reveals secrets of the world elite's hidden wealth. the Guardian. Retrieved 8 January 2018, from https://www.theguardian.com/news/2017/nov/05/paradise-papers-leak-reveals-secrets-of-world-eliteshidden-wealth?CMP=fb_gu
Kottasová, I. (2018). World's richest 1% grabbed 82% of all wealth created in 2017, Oxfam study finds. CNNMoney. Retrieved 22 January 2018, from http://money.cnn.com/2018/01/21/news/economy/davos-oxfaminequality-wealth/index.html
Watts, J. (2017). From Miami to Shanghai: 3C of warming will leave world cities below sea level. the Guardian. Retrieved 8 January 2018, from https://www.theguardian.com/cities/2017/nov/03/miami-shanghai-3cwarming-cities-underwater?CMP=fb_gu
Brazil politicians linked to Petrobras scandal draft bills for 'self-preservation'. (2016). the Guardian. Retrieved 8 January 2018, from https://www.theguardian.com/world/2016/nov/11/brazil-petrobras-corruption-scandalpoliticians-bills
Phillips, D. (2017). Brazil's right on the rise as anger grows over scandal and corruption. the Guardian. Retrieved 8 January 2018, from https://www.theguardian.com/world/2017/jul/26/brazil-rightwing-dilma-rousseff-lula
Pegg, D. (2017). Corrupt Brazilian tycoon among applicants for Portugal's golden visas. the Guardian. Retrieved 8 January 2018, from https://www.theguardian.com/world/2017/sep/18/portugal-golden-visas-corruptbrazilian-tycoon-among-applicants
Goede, M. (2018). The Corporation: A circular process of value creation. Archives of Business Research, 6(5), 113-124. in ’t Veld, R., Governance als prothese voor deugdzaamheid, Universiteit van de Nederlandse Antillen, Curaçao, 16 maart 2006 (oratie).
Line, T. B. (2009). Triple Bottom Line. Retrieved, 4(09), 2015.
Jensen, M. C. (2001). Value maximization, stakeholder theory, and the corporate objective function. Journal of applied corporate finance, 14(3), 8-21.
Luc, J. (2018). Corporate social responsibility.
Jamali, D., Safieddine, A. M., & Rabbath, M. (2008). Corporate governance and corporate social responsibility synergies and interrelationships. Corporate Governance: An International Review, 16(5), 443-459.
Mason, P. (2015). The end of capitalism has begun. the Guardian. Retrieved 8 January 2018, from https://www.theguardian.com/books/2015/jul/17/postcapitalism-end-of-capitalism-begun
NowThis Future. (2018). Facebook.com. Retrieved 22 January 2018, from https://www.facebook.com/NowThisFuture/videos/1500983249942850/?notif_id=1516658863235194¬if_t=mention
Gansky, L. (2010). The mesh: Why the future of business is sharing. Penguin. Garside, J. (2017).
Silver, J. (2013). The sharing economy: a whole new way of living. the Guardian. Retrieved 12 January 2018, from https://www.theguardian.com/technology/2013/aug/04/internet-technology-fon-taskrabbit-blablacar
Solomon, J. (2007). Corporate governance and accountability. John Wiley & Sons.
Kim, D. H. (2003). Oriental way of systems thinking. 한국시스템다이내믹스 연구, 4(1), 55-68.
Dgcoach.nl. Retrieved 9 January 2018, from http://dgcoach.nl/wp-content/uploads/2016/10/Good-Governance.pdf
Muniapan, B., & Dass, M. (2008). Corporate social responsibility: A philosophical approach from an ancient Indian perspective. International Journal of Indian Culture and Business Management, 1(4), 408-420.
Moen, R., & Norman, C. (2006). Evolution of the PDCA cycle.
Taylor, M., McNicholas, C., Nicolay, C., Darzi, A., Bell, D., & Reed, J. (2013). Systematic review of the application of the plan–do–study–act method to improve quality in healthcare. BMJ Quality & Safety, 23(4), 290-298. doi:10.1136/bmjqs-2013-001862
Karkoszka, T., & Honorowicz, J. (2009). Kaizen philosophy a manner of continuous improvement of processes and products. Journal of Achievements in Materials and Manufacturing Engineering, 35(2), 197-203.
B.V., (2018). PDCA PDSA Deming Cycle - Knowledge Center. 12manage.com. Retrieved 10 January 2018, from https://www.12manage.com/methods_demingcycle.html
Primonederland.eu. Retrieved 9 January 2018, from https://primonederland.eu/wpcontent/uploads/2002/09/bossert-good-gevernance-de-leidraad-voor-goed-bestuur-en-management-artn.-68.pdf
Goede, M. (2017). Education in a World Where There Are Not Enough Jobs.
Raworth, K. (2017). Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist. Chelsea Green Publishing.
Toye, R. (2018). Doughnut Economics by Kate Raworth review – forget growth, think survival. [online] the Guardian. Available at: https://www.theguardian.com/books/2017/jun/08/doughnut-economics-by-kateraworth-review [Accessed 11 Jan. 2018].
Raworth, K. (2018). Meet the doughnut: the new economic model that could help end inequality. [online] World Economic Forum. Available at: https://www.weforum.org/agenda/2017/04/the-new-economic-model-thatcould-end-inequality-doughnut/ [Accessed 11 Jan. 2018].
Larry Fink, j. (2018). Larry Fink, CEO of $6.3 trillion manager BlackRock, just sent a warning letter to CEOs everywhere. Business Insider. Retrieved 17 January 2018, from http://www.businessinsider.com/blackrock-ceolarry-fink-just-sent-a-warning-to-ceos-everywhere-2018-1?utm_content=bufferc7341&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-ti
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2018 Archives of Business Research
This work is licensed under a Creative Commons Attribution 4.0 International License.
