Chapter 4 Corporate Responsibility

DOI: 10.4324/9781003386629-5

Conducting corporate affairs responsibly underpins long-term business success.

The corporation is perhaps the most powerful force within the global economy. The turnover of the largest corporations exceeds that of small countries. Online retailer Amazon reported revenue of $470 billion in 2022, more than the entire gross domestic product (GDP) of medium-size countries such as Austria and Nigeria.

Governments hold the reins of formal power, but the largest corporations have huge influence over decisions and policy. It is a brave (or foolish) politician who crosses paths with a major global corporation. For example, finance ministers are wary of taking action against the interests ...

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