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Organizations are utilizing digital technologies to modernize their innovations in today’s competitive and rapidly changing market environment. This study’s goal is to explore the influence of open innovation on firms’ digital technology integration, aiming to enhance their innovation skills and produce competitive, adaptable digital solutions. The methods used include analysis, synthesis, and generalization. Organizations can enhance open innovation by acquiring knowledge, capabilities, ideas, technologies, and information for new products and services, with the relationship between open innovation and digital innovation accelerating their capabilities. The study emphasizes the challenges organizations face in modern IT, emphasizing open innovation, access to external knowledge, and the need for improved internal production efficiency and competitiveness. The practical value of this study is manifested in the identification of strategies for optimizing open innovation for their transformation into digital solutions.
Ethical guidelines and policy documents destined to guide AI innovations have been heralded as the solution to guard us against harmful effects or to increase public value. However, these guidelines and policy documents face persistent challenges. While these documents are often criticized for their abstraction and disconnection from real-world contexts, it also occurs that stakeholders may influence them for political or strategic reasons. While this last issue is frequently acknowledged, there is seldom a means or a method provided to explore it. To address this gap, the paper employs a combination of social constructivism and science & technology studies perspectives, along with desk research, to investigate whether prior research has examined the influence of stakeholder interests, strategies, or agendas on guidelines and policy documents. The study contributes to the discourse on AI governance by proposing a theoretical framework and methodologies to better analyze this underexplored area, aiming to enhance comprehension of the policymaking process within the rapidly evolving AI landscape. The findings underscore the need for a critical evaluation of the methodologies found and a further exploration of their utility. In addition, the results aim to stimulate ongoing critical debates on this subject.
Corporate governance plays a key role in ensuring that companies act responsibly and legally in the pursuit of long-term, sustainable growth. Now in its fifth edition, Principles of Contemporary Corporate Governance offers a comprehensive introduction to the rules and regulations of corporate governance systems. It takes an inclusive stakeholder approach to examine how companies apply corporate governance principles in the private sector. The four-part structure has been consolidated and streamlined to provide logical coverage of fundamental contemporary themes and issues. The text has been updated to include new case studies and discussion of recent developments, such as the impact of the Covid-19 pandemic and the destruction of a sacred rock shelter at Juukan Gorge. A new section on corporate governance in Singapore offers insight into corporate governance internationally. Written by an expert author team, Principles of Contemporary Corporate Governance remains an indispensable resource for business and law students studying corporate governance.
Frailty is a common but complex phenomenon that is approached from theoretical and professional perspectives but rarely from the perspectives of older people and their essential stakeholders. Different or opposing perspectives on frailty at personal, organisational, and community levels can negatively affect care for frail older people. This systematic integrative review synthesises the perspectives on frailty of older people, health/social care professionals, informal caregivers, managers and policymakers, using thematic analysis. We use the Joanna Briggs Institute–Critical Appraisal Checklist to appraise the quality of 52 qualitative and mixed-method studies drawn from the PubMed/MEDLINE, CINAHL, PsycINFO, Embase, and Web of Science databases (inception–December 2023). Of these, 33 include the perspectives of older people, 27 of health/social care professionals, four of managers, and six of informal caregivers. Structuring the perspectives along six themes – ‘the multi-dimensional nature of frailty’, ‘the dynamics of frailty’, ‘the complexity of frailty’, ‘frailty in relation to age’, ‘frailty in relation to health’ and ‘frailty in relation to dependence’ – revealed substantive similarities in the conceptualisation of frailty between older people and professionals, e.g. regarding frailty’s dynamic and multi-dimensional nature. However, older people and professionals differ in their interpretations of frailty: older people take a personal view, while professionals take a more practical view. The identified discrepancies in perspectives may affect care relationships and care for frail older people. Therefore, we advocate a systems approach that incorporates multiple perspectives to form a comprehensive view of frailty and allows for a situation-specific shared understanding of frailty in older people.
The identification and implementation of conflict reduction measures are necessary to reduce predator attacks on people and livestock and to minimize human encroachment into predator habitats. We identified potential human–tiger conflict reduction measures and prioritized these measures for Chitwan National Park, Nepal. We identified these measures through a literature review, key informant interviews and a local stakeholder workshop. We prioritized the identified measures using a questionnaire survey of victims of tiger attacks (farmers, forest users and fishers), beneficiaries of tiger conservation (tourist guides, Jeep and elephant safari operators, tour and hotel operators and business operators) and National Park managers. We identified 22 measures (12 preventative, five reactive and five mitigative) as having potential for reducing negative interactions between people and tigers. Amongst these, we identified compensation payments, tiger-proof fences and habitat and prey management as high-priority measures. Conflict reduction priorities also varied amongst stakeholder groups. The victims assigned the highest priority to the construction of tiger-proof fences, whereas beneficiaries identified the management of habitat and prey as their highest priority. Compensation payments were the first preference of National Park managers and were amongst the top two priorities of all stakeholder groups. We recommend the adoption of the identified stakeholder priorities for reducing human–tiger conflict around Chitwan National Park and encourage consideration of the variations in priorities between stakeholder groups during policy development and decision-making.
As touched upon in Chapter 1, contemporary commentary on corporate governance can be divided into two main approaches: stakeholder primacy, and the narrower shareholder primacy. This chapter focuses on the first of these objectives. We commence the chapter by pointing out that an approach that accentuates the differences between a shareholder versus a stakeholder theory of the corporation is probably a contradiction and a false dichotomy. We then deal with the important aspect of corporate social responsibility (‘CSR’) and the related issue of disclosure of and reporting on non-financial matters. As part of this discussion we focus on the controversial and highly topical issue of companies exaggerating their image as environmentally friendly corporations (greenwashing) to please investors and to attract more investments, as well as smartening their image on other issues (greenscreening). This chapter then looks at the ‘social licence to operate’ before shifting to CSR and directors’ duties. The chapter concludes by considering the meaning of ‘stakeholders’ and how all corporate stakeholders have vested interests in the sustainability of corporations.
Since at least 2018 there has been a major shift within ‘Business America’ away from ‘shareholder capitalism’ towards ‘stakeholder capitalism’, a move which has already had some global impact. Our approach is, however, realistic and we also make the reader aware of the challenges for countries, particularly where shareholder primacy is deeply embedded in statutory law and case law, to move from shareholder primacy to an all-inclusive stakeholder model of corporate law and corporate governance. In this chapter we extract some of the ‘essential’ principles of corporate governance and illustrate that there is a ‘business case’ for good corporate governance. We conclude the chapter by discussing broader trends and debates with a present and likely future impact on corporate governance. These include what can be described as the ‘Fourth Industrial Revolution’; the widening gap between the ‘rich’ and the ‘poor’, or, put differently, ‘the price of inequality’; the growing problem regarding profit-sharing or capital distribution in large public corporations; and a short discussion of the so-called ‘Great Reset’.
In this chapter we establish the foundations for extracting principles of contemporary corporate governance. We begin the chapter by providing our own definition of the term ‘corporate governance’. The reason for this is to enable the reader to gain a good understanding of how we approach the principles of contemporary corporate governance in this book. We have adjusted the definition of corporate governance in each of the previous four editions, as well as in this edition. The reason is that corporate governance is a dynamic concept and we strive to keep the definition updated to reflect contemporary principles of corporate governance.
Edited by
William J. Brady, University of Virginia,Mark R. Sochor, University of Virginia,Paul E. Pepe, Metropolitan EMS Medical Directors Global Alliance, Florida,John C. Maino II, Michigan International Speedway, Brooklyn,K. Sophia Dyer, Boston University Chobanian and Avedisian School of Medicine, Massachusetts
Providing medical care during a mass event requires important situational awareness and preparation. Significant planning and relationship building provides a foundation for creating an operational outline, and establishing crowd dynamics and expectations for related medical activities. Collaboration with stakeholders will provide insight into the operations of various other event management entities, and allows for more seamless operations during the event. Once an operational plan has been established and circulated, the event medical team can be prepared for the expected external and crowd conditions and respond appropriately, while maintaining vigilance for any emergency that may arise. Contingency planning is key for the medical team to have appropriate emergency response defaults. Special attention is also needed on communications strategies for real-time intel, information dissemination, and crowd management. Once the event reaches its end, it is important to establish stand-down procedures to be followed as the crowd disperses to ensure an orderly event closure. After action reports can provide valuable insights for future crowd management.
Despite increased interest in corporate social irresponsibility (CSI) among business scholars, the current research is still fragmented, its findings lacking a nuanced understanding. We conduct a systematic literature review of 173 journal articles on CSI published in the field of business and synthesize insights regarding the antecedents, consequences, and mechanisms of CSI. We begin by providing a clear definition, distinct types, and the measurement methods of CSI. Then, we provide a comprehensive research framework that demonstrates the three key components of CSI research: antecedent, consequence, and moderating. Building on this, we identify additional specific research methods for each component and apply them to assess and analyze the existing research findings and research gaps concerning CSI. We suggest that scholars pay more attention to (a) the impact of stakeholders on CSI behavior, (b) the different impacts of CSI on firm performance, (c) the relationship among CSI, corporate social responsibility, and firm performance, (d) CSI in the context of emerging economies, and (e) measuring CSI.
Edited by
Seth Davis, University of California, Berkeley School of Law,Thilo Kuntz, Heinrich-Heine-Universität Düsseldorf,Gregory Shaffer, Georgetown University Law Center, Washington DC
This chapter explores the intersection of transnational law with contemporary corporate governance laws and principles. Corporate governance, with its complex array of public and private actors, fits naturally within the modern concept of transnational law as a species of law that "can no longer be viewed through a purely national lens." Financial markets today are global and interconnected and events, such as the 2007-2009 global financial crisis and the COVID-19 crisis, exemplify the risk of contagion across those markets. Not only can corporate governance problems transcend national boundaries, so too can their solutions, which often involve regulatory efforts that operate at a transnational level. The chapter explores, from a transnational perspective, the transmission of laws and norms that are designed to constrain directors’ conduct and enhance corporate accountability. It focuses on two key examples of such accountability mechanisms-fiduciary duties and corporate codes. The chapter examines, for example, the global transmission of corporate governance and shareholder stewardship codes. These codes, which are a relatively recent phenomenon, play an important role as “norm creators.” The chapter assesses the transmission of laws and norms against the backdrop of convergence and path dependence theories of corporate governance.
As scholars and activists seek to define and promote greater corporate political responsibility (CPR), they will benefit from understanding practitioner perspectives and how executives are responding to rising scrutiny of their political influences, reputational risk and pressure from employees, customers and investors to get involved in civic, political, and societal issues. This chapter draws on firsthand conversations with practitioners, including executives in government affairs; sustainability; senior leadership; and diversity, equity and inclusion, during the launch of a university-based CPR initiative. I summarize practitioner motivations, interests, barriers and challenges related to engaging in conversations about CPR, as well as committing or acting to improve CPR. Following the summary, I present implications for further research and several possible paths forward, including leveraging practitioners’ value on accountability, sustaining external calls for transparency, strengthening awareness of systems, and reframing CPR as part of a larger dialogue around society’s “social contract.”
Communication at the science-policy interface can be bewildering not only for early-career researchers, but also for many within the research community. In the context of Antarctica and the Southern Ocean, decision-makers operating within the Antarctic Treaty System (ATS) aspire to use the best available science as a basis for their decision-making. Therefore, to maximize the impact of Antarctic Treaty Parties' substantial investment in southern polar research, researchers wishing to contribute to policy and management must understand 1) how their work relates to and can potentially inform Antarctic and/or global policy and 2) the available mechanisms by which their research can be communicated to decision-makers. Recognizing these needs, we describe the main legal instruments relevant to Antarctic governance (primarily the ATS) and the associated meetings and stakeholders that contribute to policy development for the region. We highlight effective mechanisms by which Antarctic researchers may communicate their science into the policy realm, including through National Delegations or the Scientific Committee on Antarctic Research (SCAR), and we detail the key contemporary topics of interest to decision-makers, including those issues where further research is needed. Finally, we describe challenges at the Antarctic science-policy interface that may potentially slow or halt policy development.
In order to better understand the stakeholder choices of knowledge-based organisational actors, this study focuses on a novel application of Huber's (2012) dimensions of proximity salience, namely spatial proximity, social proximity and cognitive proximity. The population of the study is made up of knowledge-based organisational actors involved in developing an innovation ecosystem, in terms of stakeholder network creation. The extent to which the three proximity dimensions of stakeholder salience is evident in the stakeholder choices of these innovation-focused actors seeking knowledge-based collaborators is explored. Our findings show how various forms of proximity prompt the decision of who to work with among a diverse population of experts involved in building a cross-national innovation ecosystem. The various explanations that motivate stakeholder choice matched Huber's proximity dimensions. The findings provide new insight into stakeholder choice among knowledge-based organisations, and highlight a new proximity dimension indirectly linked to cognition proximity. Termed the “potential proximity” dimension, it involves attraction to stakeholders that represent strategic value.
With the rise of new technologies and disruptive innovations reshaping the global economy, the Fourth Industrial Revolution has been characterized as a fusion between the physical, digital, and biological worlds. From the increasing adoption of mobile devices to the entrepreneurial use of 3D printing, artificial intelligence, and robotics, trends across Africa speak to the continent's potential for growth and sustainable development in the Fourth Industrial Revolution. In this innovative and timely study, Landry Signé examines the meaning, drivers, and implications of the Fourth Industrial Revolution for Africa. Drawing upon comparative, continent-wide analysis, Signé powerfully challenges our understandings of Africa's transformation and sheds light on the potential of the Fourth Industrial Revolution to change and shape the Global South. By defining and investigating the Fourth Industrial Revolution, Signé develops a valuable framework for further study and suggests strategies that Africans and their global partners can use to capitalize upon this rapidly evolving technological landscape.
The chapter argues that socially responsible investment (SRI) can be linked to long-term financial success and therefore should be part of the corporate social responsibility (CSR) strategy of investors. It shows how capital providers, including ordinary shareholders, institutional investors and socially responsible investors, can provide the stimulus for improvements in CSR standards and performance. The chapter traces the origins of SRI and investigates the range of powers and responsibilities, procedures and opportunities that can be applied to encourage a greater degree of participation of different kinds of investor, particularly institutional investors, in SRI.
This chapter focuses on the critical corporate governance role of outsiders providing professional advisory services in promoting corporate social responsibility (CSR). It draws on insights from responsive regulation and institutional theories to make the case for including professional advisory services such as accounting and auditing firms, management consultancies, rating agencies, external company secretaries, and public relations, advertising and marketing firms in the CSR legal infrastructure. Proposing an inclusive and limited stakeholder approach, the chapter outlines creative ways for enabling the CSR responsibility, accountability and transparency of professional advisory services.
This chapter argues that ‘stakeholder needs’ and the ‘value system paradigm’ are alternative approaches to regulating corporate social responsibility (CSR). Drawing on Pound’s Theory of Social Interests and the institutional and stakeholder theories, it highlights the importance of contextualism in CSR and demonstrates that a values system paradigm may be a more suitable regulatory strategy, particularly in the developing and emerging markets. The chapter suggests that the stakeholder needs approach should be coupled with a values system paradigm for a more effective CSR when stakeholder responsiveness is desired.
The Kaya forests in Southern Kenya are valuable habitats for rare animal and plant species and provide various ecosystem services. The Kaya forests are also centres of cultural life and are of great relevance to rites, traditions, and the social order of the community of people. During the past decades, these forest remnants become under extreme pressure due to land use and resource exploitation and are in danger of disappearing completely during the next years. This negative trend is progressing with the increasing population density. In addition, the relevance of the former cultural rites is increasingly being forgotten, and with it the relevance of these places. In order to preserve these forest remnants in the long term, it is important to make the population aware of the numerous and valuable ecosystem services, as well as to bring the former cultural life back into the centre of society. A general prerequisite to efficiently conserve Kayas might be the improvement of communication among generations, such as between the elders of Kayas and the youth, as well as among elders from different Kayas to harmonize conservation strategies and the sustainable use of these forest remnants. In addition, strengthening the communication between state institutions and the elders of the individual Kayas might help to find a common strategy to conserve Kaya forests.
This chapter argues that beneficiaries of social enterprises should be given decision-making powers. I examine two problems with restricting the decision-making powers to shareholders, that is, shareholders can exercise the governance rights to benefit themselves but at the expense of the constituencies that the social enterprise is set up to benefit; and it is odd for a social enterprise to claim that it seeks to pursue social welfare and to promote public benefit, and yet its beneficiaries have absolutely no say in how the social enterprise is being run. I then analyze three objections in giving beneficiaries decision-making powers, that is, it will be disruptive and inefficient; beneficiaries can act opportunistically; and only shareholders have the incentive and ability to monitor. Finally, I assess five different decision-making mechanisms, that is, beneficiary advisory panel; director appointed from the beneficiary advisory panel; appointing independent nonexecutive directors; beneficiaries as shareholders; appointing a regulator and public enforcement.