Multinational Enterprises: Regulation and Moral Responsibility

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Ever since the economic crisis of 2008, which had shaken the foundations of the strongest economies in the world, the debate has gained momentum as to what are the responsibilities of the multinational corporations, which transact business across multiple jurisdictions. They need to understand and recognise their role within a given socio-economic and political context, otherwise there will be serious questions on the legitimacy of the very concept of a corporation. All these issues were spoken about by Professor John Linarelli distinguished professor from the School of Law at Swansea University, UK.

On Moral Responsibility
According to Professor Linarelli, the conception of morality regarding corporations/companies is rather narrowly defined and just thinking that their sole function is the creation of wealth and are responsible only towards their shareholders would be a dangerous idea. The corporations do not operate in vacuum rather they, by virtue of scale of their operations, can contribute greatly to the nation as they operate in the community and deal with their supply chain. They can help in governance systems of a country, can provide skill training to the community and can also help in preserving the ecology of the region. And this in turn can bring greater ease to their processes and functions. So a corporations

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