考克斯圆桌会议道德资本主义CRTMoralCapitalism-1

MoralCapitalism道德资本主义-协调私立与公益MoralCapitalismReconcilingPrivateInterestwiththePublicGood考克斯圆桌会议MoralCapitalism21600–1750CapitalismbeginsandgrowsprosperousinHolland,EnglandandScotlandAnInquiryintotheOriginsandCausesoftheWealthofNationsAdamSmith,1776亚当-斯密MoralCapitalism31830-1840Abusesofcapitalism–(dark,satanicmillsofManchester;EbenezerScrooge)共产主义CommunistManifestoDasKapitalKarlMarx马克思MoralCapitalism41880-1980Non-communistresponse:welfarestatecapitalismBismark’sreformsFreetradeunionsJohnMaynardKeynes/NewDealJapan,Inc.非共产主义阵营的调整改善MoralCapitalism51991-2003Collapseofcommunism共产主义破产RiseofCSR企业社会责任出现？CRTPrinciplesforBusiness(1994)GlobalCompact(2000)MoralCapitalism(2004)StephenB.YoungMoralCapitalismPremisesofMoralCapitalism1)ValuesOutcomes2)ValuesCongruentwithSelf-InterestMoralCapitalismValuesDriveRealOutcomesMoralCapitalismchannelself-interest;repressautonomy;preventanarchyhierarchy;licenses;seekpermission;conformtogovernmentpoliciesandwishesEmployeespaternalism;dependency;lowwages;routinetasks;followordersOwners/Investors“quanxi”cronies;family;sharerisks;notransparencySupplierslowcostCompetitorscartel;DividemarketsCommunitiesseekgovernmentfavors;“quanxi”;responsibleonlyforassignedduties;notransparencyorder;peace;harmony“T’aiHe”PrinciplesIdealStakeholderBenchmarksStandardsTraditionalChineseBusinessValueOutcomesSteadysustainedgrowth;littleinnovation;corruptionCustomerscompeteonprice;caveatemptorMoralCapitalism“giri-on”Keiretsugroupprocess;cross-holdings;stability;inflexiblestrategy;flexiblecontractsEmployeeslifetimeemploymentOwnersdebtoverequity;lowmargins;nobankruptcy;Japan,Inc.SuppliersKeiretsu;justintime;shareriskCompetitorsJapan,Inc.;dividemarkets;liveandletliveCommunity/environment“tanin”/lowvalue“Ninjo”PrinciplesIdealStakeholderBenchmarksStandardsJapaneseCorporateValuePyramidOutcomesUpmarket—Growth:1954—1990Downmarket—Stagnation:1990—2002CustomersmarketshareMoralCapitalismProperty;“territory”Scopeofinfluence;numberof“dependencias”Employeespaternalism;obedience;noresponsibility;lowproductivity;manypositions-titles;procedureOwners/Investorsequityoverdebt;fewtrustedinsiders;familySupplierssubmissiveCompetitorsenemies;buypoliticalinfluenceCommunitylittleornovalueorimportanceexceptassubordinates;buyinfluence-socialandpoliticalDominion(“hacendado”;“patron”ideal)StandardsIdealStakeholdersBenchmarksSuggestedMexicanBusinessValuePyramidOutcomesSmallentrepreneurialmiddleclass;widegapsinwealth/income;capitalflight;weakcivilsociety;lowsocialcapital;highmistrustConsumerscompliant;acceptproductasofferedPersonaldiscretionHonor;respectOwnershipprerogativesPosition;titleMoralCapitalismRentSeeking;InsiderFavoritism;BuyObedience;UsePoliceStateforSecurityInsiderNetworks;CaptureofStateFunctions;Monopolies&Cartels;NoAccountabilityEmployeesIndenturedRetainersOwners/InvestorsFamilies;PoliticalInsiders;NoCorporateGovernanceSuppliersPriceTakers;LowQualityCompetitorsRemovedbyGovernmentFiatCommunitiesMaximumExternalizationofCosts;CorruptionofPoliticsSocialDominancePrinciplesIdealStakeholderBenchmarksStandardsCronyCapitalismOutcomesMafia-styleAdministration;Kleptocracy;LargeScaleTransferofWealthtoEliteFamiliesCustomersCapturewithMonopolies&Cartels;PriceatMonopolyPremiumMoralCapitalismMaximize$irrespectiveofconsequencestoothersROIEmployeeslayoff20%ayear;lockin401(k)stockOwners/investors“aggressive”accounting;concealliabilitiesSupplierssqueezeandbullyCompetitorscolludeordestroyCommunitiesMaximizeexternalities;seekgovernmentfavoritism;notransparencyGreed;SocialDarwinismPrinciplesIdealStakeholderBenchmarksStandardsTheIrresponsibleCorporation—ENRONOutcomeDestructionofequityinvestmentFinanciallossforemployees,creditors,suppliersConsumerscaveatemptorTotalcompensationStockpriceMoralCapitalismCRTPrinciplesforBusinessCRTSelf-AssessmentProcessCustomersChapter7EmployeesChapter8Owners/InvestorsChapter9SuppliersChapter10CompetitorsChapter11CorporateActionManagementDecisionMakingOutcomesWorldReligions(Kyosei,HumanDignity,Stewardship)SustainInformElaborateandQuantifyStakeholderBenchmarksFocusAccountableforSuccessFeedbackMoralCapitalismCommunitiesChapter12IdealPrinciplesStandardsMoralCapitalismINPUTS$;sustainableprofits;lowbeta;maximumvalueReputationalcapitalSocialcapitalFinancecapitalPhysicalcapitalHumancapitalConversionprocessesOUTPUTGoods/servicesCustomersReturnonCapital(preserveadequacyofcapitalinputs)TheoryoftheMoralFirm(selfinterestconsidereduponthewhole)MoralCapitalismTheoryoftheMoralFirm:2CRTPrinciplesVisionStakeholdersCorporateGovernanceLeadershipStrategyValueDriversShareholderValueMoralCapitalismStakeholders:-Customers–moralcompassforcapitalism-Employees–moralagents,notpartsforamachine-OwnersandInvestors–fiduciarydutiesofloyaltyandduecare-Suppliers–friends,notfoes-Competitors–competewithqualityandinnovation,notprice-Communities–enhancesocialcapitaltoenhancefutureprofitabilityMoralCapitalism17TransformingIntegratedInnovativeEngagedBasicTransformingIntegratedInnovativeEngagedBasicCreatingNewMarkets,NewConsumerParadigmsLeadershipStylesCoreBehaviors