Responsible competitiveness: reshaping global markets through responsible business practices

ISSN： 1472-0701

Source： Corporate Governance: The Int J of Effective Board Performance, Vol.6, Iss.4, 2006-08, pp. : 334-348

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Abstract

Purpose - The purpose of the paper is to explore the theoretical underpinnings and practical implications of responsible competitiveness, where responsible business practices become a driver of national and regional competitiveness. Design/methodology/approach - The paper is based on extensive international consultations in association with the United Nations, detailed case studies, and econometric analysis of country level competitiveness and corporate responsibility related data. Findings - The paper concluded that responsible business practices can contribute to national and regional competitiveness, and that without such links corporate responsibility impacts are likely to remain limited. Research limitations/implications - Further sector and issue-based and country-level research is needed exploring the potential and practice of responsible competitiveness. Practical implications - Proposes that national and regional strategies for enhancing competitiveness and so also social/environmental outcomes can be grounded in responsible competitiveness. Furthermore, offers insights into how global markets can internalise key costs and benefits. Originality/value - The paper authors the notion of responsible competitiveness, and provides original definitions, methodology and data previously unpublished in any academic journal.