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Running business like a government in the new economy: lessons for organizational design and corporate governance

Running business like a government in the new economy: lessons for organizational design and... Principal‐agent problems are largely responsible for poor corporate governance. Much work on private sector corporate governance reform seeks to address transparency, accountability and responsiveness to stakeholder interests under the new category of corporate social responsibility (CSR). Yet, these issues are not new. The public sector has been working on these issues for many years – especially in looking at ways of reducing malfeasance and also optimizing use of resources for the benefit of principals. Some lessons from public sector reform include promoting information dissemination, participation, and balancing powers between a corporation’s executive and supervisory entities. While firms should not necessarily be administered like governmental bodies, there are many lessons from public sector organizational reform and institutional governance that may be applicable to large‐scale public corporations. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Corporate Governance Emerald Publishing

Running business like a government in the new economy: lessons for organizational design and corporate governance

Corporate Governance , Volume 4 (3): 15 – Sep 1, 2004

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
1472-0701
DOI
10.1108/14720700410547486
Publisher site
See Article on Publisher Site

Abstract

Principal‐agent problems are largely responsible for poor corporate governance. Much work on private sector corporate governance reform seeks to address transparency, accountability and responsiveness to stakeholder interests under the new category of corporate social responsibility (CSR). Yet, these issues are not new. The public sector has been working on these issues for many years – especially in looking at ways of reducing malfeasance and also optimizing use of resources for the benefit of principals. Some lessons from public sector reform include promoting information dissemination, participation, and balancing powers between a corporation’s executive and supervisory entities. While firms should not necessarily be administered like governmental bodies, there are many lessons from public sector organizational reform and institutional governance that may be applicable to large‐scale public corporations.

Journal

Corporate GovernanceEmerald Publishing

Published: Sep 1, 2004

Keywords: Corporate governance; Business enterprise; Local government

References