ABSTRACT
There is considerable debate about ‘global capitalism’ and its potential for exploitation or benefit. Most international companies are based on meritocratic principles, at least in intent. A meritocracy which is also organised in terms of clear decision-making authority in role, for example, a managerial hierarchy, has great advantages. Potentially the speed at which decisions can be made and resources redeployed means that such organisations can be highly effective. If however, the authority is abused, that is, exercised as power, then significant harm can be done in a short period of time. For example, the power exercised by people in companies like Enron or Parmalat, who do not abide by their own rules or decide that their rules transcend their actual legal requirement. So called smart, clever accountancy practices are not so smart in the long run. The collapse of such organisations not only destroys huge amounts of value commercially but also destroys the value of other large organisations by undermining trust in such institutions.
