With quite a lot of still reeling from the ripple effects of the 2008-09 worldwide financial catastrophe, it's become plentifully clear the principles and ethos of company are fundamental to economic accomplishment. Recovering on the relationships between those associations and ensuring that it never repeats itself will demand new thinking about the types of institutions on which a successful economy depends, and more importantly, from this systemic failure.
The authors' purpose isn't to lay out a detailed framework for bookkeeping management, bank solvency or corporate governance; rather, it's to clarify the principles on which any market system that is accountable will rest, and how these might be implemented. Additionally it is to propose various actions that marketplace participants can take to prevent similar catastrophes. The authors demonstrate that, like an effective political system, a market that is successful is in many ways: it's checks and balances, accountabilities, responsibilities, information flows and cultures. They go on to describe the five principles of 'answerable capitalism', and the four amounts of stakeholders required to make it a reality.
PUBLICATION DATE: September 01, 2009 PRODUCT #: ROT096-PDF-ENG
This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE
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