The financial crisis of 2008 exacerbated an environment of mistrust for business practice in the global economy. Much of the public and the political class questioned business leaders’ commitment to integrity, transparency, and ethical behavior. In this project, Doyle Undergraduate Fellows researched various forms of corporate social responsibility, government regulations, and legal reforms that affect the business world. They found that while government regulations are effective to a point, shareholders, investors, customers, and employees are also able to influence company decisions, and personal values, education, religion, and work experience strongly influence business leaders and affect their decisions. It seems that the crisis caused many actors to reconsider their assumptions regarding the rights of regulators, consumers, shareholders, and investors and the responsibilities of businesses as active participants in society. Profit-maximization may still be the primary goal for most companies, but many are carved out space for other concerns, and even finding ways in which both goals are achievable. This report highlights several of these strategies and ensuing complexities in the new business market.
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