Responsibility, Ethics And Legitimacy Of Corporations

Business ethics, corporate social responsibility, corporate citizenship, values-driven management, corporate governance and ethical leadership are necessary horizons for legitimacy of corporations in the process of globalization. With the theories of business ethics as a starting point, it is possible to propose a vision of the good citizen corporation. The author presents theories and concepts of responsibility for stakeholder justice and basic ethical principles of respect for autonomy, dignity, integrity and vulnerability. This is the foundation for an analysis of the ethical relations to internal and external constituencies of the firm, i.e. shareholders, owners, investors, management, employees, consumers and local community. The interaction with the environment is further analyzed with focus on ethical principles as the basis for sustainability. This investigation culminates with the conceptualization of the firm as a collective and institutional moral agent. The content also includes analysis of concrete political developments in the United States, Europe and the United Nations. Finally, the book provides a framework for a new corporate strategy based on global business ethics.