Firm Commitment: Why the corporation is failing us and how to restore trust in it

Paperback | August 6, 2014

byColin Mayer

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The corporation is one of the most important and remarkable institutions in the world. It affects all our lives continuously. It feeds, entertains, houses and, employs us. It generates vast amounts of revenue for those who own it and it invests a substantial proportion of the wealth that wepossess. But the corporation is also the cause of immense problems and suffering, a source of poverty and pollution, and its failures are increasing. How is the corporation failing us? Why is it happening? What should we do to restore trust in it? While governments are subject to repeatedquestioning and scrutiny, the corporation receives relatively little attention. Firm Commitment provides a lucid and insightful account of the role of the corporation in modern society and explains why its problems are growing. It gives a fresh perspective on the crises in financial markets, developing countries, and the environment. Based on decades of analysis and research,it describes a new approach to thinking about the firm which not only stops it destroying us but turns it into the means of protecting our environment, addressing social problems, and creating new sources of entrepreneurship and innovation. It sets out an agenda for converting the corporation into atwenty-first century organization that we will value and trust. It takes you on a journey that starts in the Galapagos, ends in Ancient Egypt, and in the process brings you to a new level of appreciation of the economic world we inhabit.

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The corporation is one of the most important and remarkable institutions in the world. It affects all our lives continuously. It feeds, entertains, houses and, employs us. It generates vast amounts of revenue for those who own it and it invests a substantial proportion of the wealth that wepossess. But the corporation is also the cause...

Colin Mayer is former Dean of the Said Business School at the University of Oxford. He is an Honorary Fellow of Oriel College, Oxford and of St Anne's College, Oxford. He is an Ordinary Member of the Competition Appeal Tribunal and a Fellow of the European Corporate Governance Institute (ECGI). He has served on the editorial boards of...

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Format:PaperbackDimensions:320 pagesPublished:August 6, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198714807

ISBN - 13:9780198714804

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Table of Contents

PrefaceIntroductionPart I: How the Corporation is Failing Us1. In the Beginning2. Morals and Markets3. Reputation4. RegulationPart II: Why It Is Happening5. Evolving Enterprises6. Bought and Closed7. Capital and CommitmentPart III: What We Should Do About It8. Value and Values9. Governance and Government10. Without EndAppendix: References and Further Readings

Editorial Reviews

"Lays out a plan for a radical rethink of the purpose of the corporation." --CSRwire.com