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Why Business is (Really) Being Asked to Step In So Often
Karthik Ramanna of University of Oxford
Video 1 of 3
On November 11, 2021, we spoke with Karthik Ramanna of the Blavatnik School of Government at the University of Oxford to explore “Corporate Political Responsibility in ‘Thin’ Political Markets.”
In the United States especially, trust in civic institutions has been declining for a long time. Recently, this has led to calls for businesses to get involved with more and more societal issues to step in where the government cannot. In this module, we explore the long-term history of this trend.
In this module, we explore:
• Why is business (really) being asked to step in more and more to solve societal breakdown?
• What is the historical context behind business and political speech?
The Corporate Political Responsibility Taskforce (CPRT)’s Expert Dialogues are in-depth, recorded conversations with academic experts, stakeholder advocates and business practitioners to provide our members and other CPR champions with the expertise and context they need to develop principled, proactive CPR strategies. We invite those interested in a constructive, non-partisan, principles-based discussion.
Karthik Ramanna is a Professor of Business and Public Policy and Director of the Master of Public Policy at the Blavatnik School of Government at the University of Oxford. In his 2015 paper with Rebecca Henderson, "Do Managers Have a Role to Play in Sustaining the Institutions of Capitalism?", Professor Ramanna argues that managers must define CPR differently in “thin” political markets. That is, where the public is not fully informed or adequately represented in decision-making, responsible corporate political influence must shift from narrow business interests to concern for the system overall.
The full transcript for this module is available here.
KEYWORDS: #CorporatePoliticalResponsibility #ESG #CivicEngagement #ClimatePolicy #LongTermValue