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The problem of corporate legitimacy

  • This chapter aims at clarifying the underlying problem which is addressed by the concept of corporate legitimacy. In a first step, it is defined as the question, what corporations can reasonably assume from society regarding the public acceptability of (value-creating) actions which put costs (risks, burdens, harm) on others? As such, legitimacy is reconstructed as a constitutional ethical focal point, where ethical focal points are defined as a shared understanding regarding societally desirable, mutually aligned behavioral expectations, constituting an infrastructure of social cooperation. In a volatile, uncertain, complex, and ambiguous world, this shared understanding is at risk to erode. Companies are expected to contribute to it, which is, at the same time, aggravated due to the pressure of competition.

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Document Type:Part of a Book
Author:Andreas Suchanek
Editor:Jacob Dahl Rendtorff
Chairs and Professorships:Chair of Economic and Business Ethics
Parent Title (English):Handbook of business legitimacy : responsibility, ethics and society
Place of publication:Cham
Year of Completion:2020
First Page:1
Last Page:22
Tag:Corporate legitimacy; Do no harm principle; Focal points
Content Focus:Academic Audience
Licence (German):License LogoUrheberrechtlich gesch├╝tzt