Radical change in business attitude needed, says think-tank
Following Ed Milliband's speech on the need for banking reform and an ethos-driven economy, the latest publication from the think-tank ResPublica argues that a radical change in attitude from our businesses is needed if the private sector is to regain the trust of British consumers.
With public trust in businesses at an all-time low and bankers at the “bottom of the league”, ResPublica’s publication The Virtue of Enterprise: Responsible business for a new economy, calls for an improved model of corporate governance and responsibility that ushers in a new era of accountability and transparency.
The collection urges for radical policy reforms and issues recommendations for better business practices:
Baroness Lister proposes a concept of stakeholder capitalism which views the employee as a stakeholder and compensates them in recognition of this.
Andrea Leadsom MP argues for a business environment that allows free entry and exit by market players in order to ‘compete away’ the need for increased regulation.