VideoCorporate Political Responsibility Taskforce

What Managers and Companies Can Do

Video 3 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.”

Although there may be risks when businesses take responsibility for social issues, individual managers may still want to participate in activism. How can managers engage in the public sphere responsibly and effectively?

In this module, we explore:

  • What role can exist for individual managers, in both their roles as citizens and within their firms?

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

 

More Resources

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While this report more broadly assesses America’s competitiveness, Chapter 3: The Role of Business in Politics Today and Tomorrow, identifies the role of business in political gridlock, and suggests potential solutions. (See pg 28-36)

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This piece offers guidance for companies on how to protect civic freedoms and support human rights defenders. It outlines the normative framework, business case, and moral considerations for corporate engagement, emphasizing the importance of understanding the reality and severity of harms, the company's involvement, and the context in which they operate.

 

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This article outlines CEO activism and its influence, risks, and rewards. Authors reference research to assert that CEOs must strategically decide when and how to engage with social and political issues. The included playbook provides insight on how to go about engagement for positive impact. By raising awareness and leveraging economic power, CEOs can embrace transparency and accountability to their company values.

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Summary of voluntary standard on reporting public policy management approach, including political contribution disclosures as is certified by the Global Reporting Initiative.

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