What Level of Trust is Needed for Sustainability?

Author:

Aras Güler,Crowther David

Abstract

PurposeThe purpose of this paper is to argue that the main ontological position of modern capitalism, founded on the philosophy of utilitarianism, derived of course from the work of Jeremy Bentham and John Stuart Mill, is fundamentally flawed as it ignores power inequalities and assumes that the economic fiction of perfect competition can actually exist.Design/methodology/approachNevertheless it provides a legitimating mechanism for modern capitalism and the operation of firms within a market economy. More significantly, from the viewpoint of this paper, is the problem caused by the naïve assumption that the firm as nexus of treaties is sufficient to negotiate the contracts between the various stakeholders. This is significantly inadequate because it ignores the aspect of trust between the parties – the focus of the paper.FindingsIn this paper it is argued that the sustainability of a firm is not predicated in the negotiated contracts it enacts but rather in the underlying trust which is implied and that one of the problems of the modern firm is that this trust has been negated in the drive for efficiency and shareholder value. The purpose of this paper therefore is to explore the nature of trust between the various stakeholders to the social contract which the firm enacts, paying particular attention to the involuntary stakeholders. In doing so, the role of trust in each aspect of sustainability identified in a previous paper is analysed and consider whether it is necessary for each stakeholder or just they key ones, or whether it is different for each aspect? In doing so, particular attention is paid to involuntary stakeholders.Originality/valueThis argument has implications for every business in managing its stakeholder relations.

Publisher

Emerald

Subject

Social Sciences (miscellaneous),General Business, Management and Accounting

Cited by 19 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3