Managing in the post‐managerialist era : Towards socially responsible corporate governance

This paper uses stakeholder theory to critique the morality of managerialism, and advocates “ethical corporate governance” as an alternative philosophy and practice. Managerialism is seen as morally and commercially inferior to “moral management” in the new era of stakeholder accountable organisations. The alternative philosophy proposed centres on the concept of “the responsible organisation” with a stakeholder systems model of corporate governance offered as the means of operationalising this. The model incorporates organisational justice considerations and measures by which ethical corporate governance can be evaluated.