Pregledni rad
https://doi.org/10.38190/ope.10.1.10
Corporate governance and the economy of the third way
Valentina Vinšalek Stipić
orcid.org/0000-0001-7065-2918
; Veleučilište „Nikola Tesla“ u Gospiću
Sažetak
The contemporary global environment requires corporate management to apply new ways of managing it to achieve and maintain a competitive advantage. All stakeholders must have a common goal to achieve universal satisfaction. Businesses should no longer have the sole goal of making a profit, but the prosperity of society as a whole. That is the reason for the advocacy of the economy of the third way. The economy of the third way puts social sensitivity for the wider community first. This does not entail social assistance to individuals but the creation of conditions for greater equity in terms of social and economic sensitivity, socially responsible business operations and environmental protection. Some time ago, profit and market share were the only measure of business success and good position of companies in the market. However, businesses are required to have environmental and social awareness, which is considered to be a major problem in modern capitalism. In this paper, it was necessary to find out how much importance Croatian companies give to social sensitivity towards their employees, and how much expenditures for the social rights of workers are related to the net profit margin. The survey was conducted on a sample of 53 companies registered and operating in the Republic of Croatia. Empirical research using mathematical and statistical methods (correlations and regressions) concluded that companies are aware of the importance of social sensitivity to their employees and implement such business policies in their business strategies. However, it was noticed that the companies in the sample do not sufficiently finance the social rights of their employees. There is a positive linear relationship with the realization of the net profit margin, while the correlation coefficient is extremely small.
Ključne riječi
Corporate governance; Third way; Economy of the third way
Hrčak ID:
239710
URI
Datum izdavanja:
24.6.2020.
Posjeta: 1.983 *