Harness private interests to serve the public interest

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Reference no: EM131707571

The new principles of corporate design outlined by Kelly and White are as followed:

1. The purpose of the corporation is to harness private interests to serve the public interest.

2. Corporations shall accrue fair returns for shareholders, but not at the expense of the legitimate interests of other stakeholders.

3. Corporations shall operate sustainably, meeting the needs of the present generation without compromising the ability of future generations to meet their needs.

4. Corporations shall distribute their wealth equitably among those who contribute to wealth creation.

5. Corporations shall be governed in a manner that is participatory, transparent, ethical, and accountable.

6. Corporations shall not infringe on the right of natural persons to govern themselves, nor infringe on other universal human rights.

Pick one of them and explain in depth and give examples. Which principle is the one that is most important to changing the way companies might do business in the future? Why?

Reference no: EM131707571

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