Arbeitspapier
Competitive markets, corporate firms, and new governance - An ordonomic conceptualization
The purpose of this article is to develop an ordonomic conceptualization of corporate citizenship and new governance that (a) provides a framework for positively explaining the political participation of companies in new governance processes and (b) does not weaken but instead strengthens the functional role of corporations as economic actors in the market system of value creation. To this end, we develop our ordonomic approach in a critical discussion of Milton Friedman's stance on the social responsibility of business in three steps. (1) The ordonomic perspective on the economics ethics of competitive markets argues that the social responsibility of business does not lie in maximizing profits but in addressing societal needs through the mutually advantageous creation of value. (2) The ordonomic approach to the business ethics of corporate actors claims that corporate firms can use moral commitments as a factor of production. (3) The ordonomic perspective on the process ethics of new governance holds that companies can act not only as economic actors but also participate as political and moral actors by taking ordo-responsibility in processes of new governance. This role of corporate citizens in the new governance does not weaken but, instead, strengthens the role of business firms as economic agents for value creation.
- Language
-
Englisch
- ISBN
-
978-3-86829-195-7
- Bibliographic citation
-
Series: Diskussionspapier ; No. 2009-13
Relation of Economics to Other Disciplines
Institutions: Design, Formation, Operations, and Impact
Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Corporate Culture; Diversity; Social Responsibility
Corporate Citizenship
Value Creation
Economic Ethics
Business Ethics
Process Ethics
Ordonomics
Stakeholder Theory
Sustainability
Aristotle
Milton Friedman
Corporate Social Responsibility
New Governance
Corporate Citizenship
Wertschöpfung
Wirtschaftsethik
Unternehmensethik
Prozessethik
Ordonomik
Stakeholder-Theorie
Nachhaltigkeit
Aristoteles
Milton Friedman
Corporate Social Responsibility
Beckmann, Markus
Hielscher, Stefan
- Handle
- URN
-
urn:nbn:de:gbv:3:2-8953
- Last update
-
12.07.2024, 1:20 PM CEST
Object type
- Arbeitspapier
Associated
- Pies, Ingo
- Beckmann, Markus
- Hielscher, Stefan
- Martin-Luther-Universität Halle-Wittenberg, Lehrstuhl für Wirtschaftsethik
Time of origin
- 2009
Other Objects (12)
Corporate citizenship as stakeholder management: An ordonomic approach to business ethics
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Zum Curriculum der Wirtschafts- und Unternehmensethik: Anregungen für die Ausbildung von Führungskräften
Corporate digital responsibility : managing corporate responsibility and sustainability in the digital age
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Markt und Organisation: Programmatische Überlegungen zur Wirtschafts- und Unternehmensethik
Corporate citizenship as stakeholder management: An ordonomic approach to business ethics
The ordonomic approach to business ethics
Management-Kompetenzen für nachhaltige Wertschöpfung: Anregungen aus ordonomischer Sicht
Corporate sustainability and responsibility: creating value for business, society and the environment
Das Unternehmen als Arrangement von horizontalen und vertikalen Dilemmastrukturen: Zur Ordonomik der Corporate Governance in und durch Unternehmen
The political role of the business firm: An ordonomic concept of corporate citizenship developed in comparison with the Aristoleian idea of individual citizenship
Morality as a factor of production: Moral commitments as strategic risk management
CSR reporting, stakeholder engagement and preventing hypocrisy through ethics audit
Zum Curriculum der Wirtschafts- und Unternehmensethik: Anregungen für die Ausbildung von Führungskräften
Corporate digital responsibility : managing corporate responsibility and sustainability in the digital age
The relational company : responsibility, sustainability, citizenship
Markt und Organisation: Programmatische Überlegungen zur Wirtschafts- und Unternehmensethik
Corporate citizenship as stakeholder management: An ordonomic approach to business ethics
The ordonomic approach to business ethics
Management-Kompetenzen für nachhaltige Wertschöpfung: Anregungen aus ordonomischer Sicht
Corporate sustainability and responsibility: creating value for business, society and the environment
Das Unternehmen als Arrangement von horizontalen und vertikalen Dilemmastrukturen: Zur Ordonomik der Corporate Governance in und durch Unternehmen
The political role of the business firm: An ordonomic concept of corporate citizenship developed in comparison with the Aristoleian idea of individual citizenship
Morality as a factor of production: Moral commitments as strategic risk management
CSR reporting, stakeholder engagement and preventing hypocrisy through ethics audit
Zum Curriculum der Wirtschafts- und Unternehmensethik: Anregungen für die Ausbildung von Führungskräften
Corporate digital responsibility : managing corporate responsibility and sustainability in the digital age
The relational company : responsibility, sustainability, citizenship