Topic 1 Starbuck Why corporate governance deserves serious
Starbuck, WH 2014, ‘Why corporate governance deserves serious and creative thought’, Academy of Management Perspectives, vol. 28, no. 1, pp.
15–21.
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The Academy of Management Perspectives
2014, Vol. 28, No. 1, 15–21. http://dx.doi.org/10.5465/amp.2013.0109 E
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WHY CORPORATE GOVERNANCE DESERVES SERIOUS AND
CREATIVE THOUGHT
WILLIAM H. STARBUCK
University of Oregon
In their article, “Learning From Ancient Athens: Demarchy and Corporate Governance” (this issue), Zeitoun, Osterloh, and Frey contribute a useful summary of the debates about corporate governance and suggest a novel way to involve stakeholders in governance. Picking up from their discussion on corporate governance, this paper raises four issues. First, different kinds of corporations should have different kinds of governance policies. In particular, large global corporations are so important and so distinctive that they deserve special thought. Second, humanity must set priorities among goals. Governance policies that enable an individual corporation to operate effectively right now may cause long-term harm to humanity and the earth, and policies that benefit humanity and the earth may harm individual corporations. It is not clear who should set such priorities. Third, ideas about governance should consider technological and social changes that are propelling corporations toward entirely new forms. Much of the debate about corporate governance has focused on issues relating to 20th-century organizations and 20th-century societies, and
15–21.
COMMONWEALTH OF AUSTRALIA
Copyright Regulations 1969
WARNING
This material has been reproduced and communicated to you by or on behalf of
Australian Institute of Business pursuant to Part VB of the Copyright Act 1968 (the Act).
The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act.
Do not remove this notice.
The Academy of Management Perspectives
2014, Vol. 28, No. 1, 15–21. http://dx.doi.org/10.5465/amp.2013.0109 E
X
C
H
A
N
G
E
WHY CORPORATE GOVERNANCE DESERVES SERIOUS AND
CREATIVE THOUGHT
WILLIAM H. STARBUCK
University of Oregon
In their article, “Learning From Ancient Athens: Demarchy and Corporate Governance” (this issue), Zeitoun, Osterloh, and Frey contribute a useful summary of the debates about corporate governance and suggest a novel way to involve stakeholders in governance. Picking up from their discussion on corporate governance, this paper raises four issues. First, different kinds of corporations should have different kinds of governance policies. In particular, large global corporations are so important and so distinctive that they deserve special thought. Second, humanity must set priorities among goals. Governance policies that enable an individual corporation to operate effectively right now may cause long-term harm to humanity and the earth, and policies that benefit humanity and the earth may harm individual corporations. It is not clear who should set such priorities. Third, ideas about governance should consider technological and social changes that are propelling corporations toward entirely new forms. Much of the debate about corporate governance has focused on issues relating to 20th-century organizations and 20th-century societies, and
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