Evolutions in Corporate Governance by Dempsey Alison L.;

Author:Dempsey, Alison L.;
Language: eng
Format: epub
Publisher: Taylor & Francis Group

2 Among others who have explored the evolution of this broader construction of corporate accountability and responsibility are Daily et al. (2003) and McIntosh and Zadek (2002). The advent of this broader construction early in the new millennium supported expansion of corporate governance and accountability theory as a response to growing societal pressures on business to operate responsibly; in particular, to enable governance thinking to accommodate the complex decisions that take into account the interests of a diverse group of stakeholders.

3 Proponents of communitarianism argue that there are important collective rights that apply to social groups: that communities as well as individuals possess rights (Source: Penguin Dictionary of Sociology 2006). As a response to liberal capitalism, communitarianism seeks to preserve the system of values and moral codes that are the fundamental underpinnings of a fair and just society wherein there must be a balance between rights and responsibilities. See, e.g. Coughlin 1996 and Etzioni 1993 regarding the clash between the culture of individualism in the United States and the responsibilities of individuals to one another and to a shared society; and Etzioni 1995.

4 Stakeholder theory originated in the work of R. Edward Freeman in Strategic Management: A Stakeholder Approach (1984).

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