ABSTRACT
There is widespread acknowledgment, noted in Chapters 4 and 8, that if it is to become and remain a thriving business enterprise, a public company needs to do three (possibly four) closely interrelated things: to produce competitive returns for shareholders, to satisfy its customers in order to produce those profits and to recruit and motivate excellent employees (and, where appropriate, build successful relationships with suppliers) so as to achieve those goals. Several of the public company directors and secretaries interviewed for this study also commented that they needed to operate, and to be seen to be operating, in a way that was acceptable to society, not least because otherwise, there was the threat of yet more legislation. Many of them regarded attention to these issues as simply matters of ‘common sense’ or suggested that consideration of primary stakeholders was implicitly required by current company law and regulation. However, there was some recognition that a change in company law might help to alleviate misunderstandings of what was required and foster good practice on the part of corporate leaders who might otherwise conduct business in a less desirable manner. Corporate reputation in this way provided the link between ethics and profitability. This concluding chapter will explore the economic implications of potential new legislation and the form any new rules might take.
