In a globalized world
With optimism we engage in dialogue, debate, and discussion on governance in a globalized world: "Corporate governance is about fundamental questions in economics, politics, society, entrepreneurship, globalization, business processes and global value chains. It is not about a mechanical solution for a more effective structure in a decision-making process or plate spinning act. Corporate governance is about the merits of the free enterprise in a capitalist economy and about capitalist democracies. Capital democracies maintain themselves when economic growth is economically effective and socially acceptable. As a result, a debate about economic growth is a debate over what growth means in a system that is acting near the physical limits of our planet, our finite planet. A debate on economic growth cannot avoid a debate about the increasing sense of uncertainty and powerlessness and the impact of globalization, the role of the nation state, and civil society, in which asymmetric information in decision-making too often leads to the many conflicts around us. A debate on economic growth cannot avoid a debate over what is fair and effective in a system that generates geopolitical tensions, wars, and weapons of mass destruction; generating financial and debt crises; GVC disruptions with high inflation, high energy, high commodity, and food prices; shortages and poverty in emerging markets; social injustice, social inequality; and health pandemics. A debate on economic growth therefore cannot avoid a debate about the purpose and impact of the corporation. Whatever the outcome of this debate, today’s realities must integrate and converge. These converging forces may not only result in a Western solution what corporate governance means in a globalized world.”
In addition, read Michael Witt's views and questions he has forwarded in
the following papers.
Michael A Witt - De-globalization and decoupling: Game
changing consequences? Management and Organization
Review 17:1, February 2021, 6-15.
Michael A Witt - Our Board, Our Rules: Nonconformity to
Global Corporate Governance Norms. Administrative Science
Quarterly, 2022, Vol. 67(1)131–166.