ABSTRACT
The corporation is embedded in a moral economy and needs to act in accordance with its stipulated rules and existing moral and ethical standards. The concept of the moral economy underlines how the corporation is not only tied to the state and the wider economy on the basis of legislation and regulations, but also remains grounded in commonly shared moral beliefs. Religious communities may themselves act on the basis of the belief that they do in fact represent a specific, justifiable morality, but civil legislation and social norms may in fact render such beliefs ineffective in accomplishing stated goals. The corporate system and its legislation provide several mechanisms that ensure the autonomy of the corporation as a legal entity sui juris. The moral economy of enterprising is a social fact that skilled managers and external observers must recognize within the everyday affairs of corporations.
