Shaping the future
With unwavering optimism, we
actively engage in dialogue, debate, and profound
discussions surrounding governance in our interconnected
world. Corporate governance transcends mere structural
efficiency or balancing acts; it delves into the very
essence of economics, politics, society,
entrepreneurship, globalization, business processes, and
the intricate web of global value chains. It embodies
the spirit of free enterprise within a capitalist
economy and the principles that underpin capitalist
democracies.
The sustenance of capitalist
democracies hinges upon the dual pillars of economic
growth that is both economically effective and socially
acceptable. Consequently, any discourse on economic
growth must confront the formidable challenges posed by
a planet nearing its physical limits. It demands an
exploration of the escalating sense of uncertainty and
powerlessness, the ramifications of globalization, the
role of the nation-state, and the vital involvement of
civil society. In this realm, the prevalence of
asymmetric information in decision-making fuels the
conflicts that besiege us.
Examining economic growth necessitates an honest
appraisal of what is equitable and efficacious within a
system fraught with geopolitical tensions, armed
conflicts, and weapons of mass destruction. It demands
our attention to financial and debt crises, disruptions
in global value chains leading to soaring inflation,
energy costs, and commodity prices, exacerbating
shortages and poverty in emerging markets. It obliges us
to address social injustice, growing inequality, and the
specter of health pandemics. Central to this debate is
an exploration of the purpose and impact of
corporations.
Regardless of the outcome of this profound deliberation, we must weave together the disparate threads of our present reality. The convergence of these forces must transcend regional boundaries, offering not just a Western solution but a holistic understanding of what corporate governance truly signifies in our interconnected, globalized world.
Moreover, we invite you to explore Michael Witt's profound insights and thought-provoking questions encapsulated in the following papers, which further enrich the discourse on this pressing subject
Michael A Witt - De-globalization and decoupling: Game
changing consequences? Management and Organization
Review 17:1, February 2021, 6-15.
Michael A Witt - Our Board, Our Rules: Nonconformity to
Global Corporate Governance Norms. Administrative Science
Quarterly, 2022, Vol. 67(1)131–166.