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Global lack of regulation

The world economy is now passing the period of important social and political changes, the crisis 2008-2010 showed the importance of studying the regulating models at micro- and especially at macro-level, even the global level of decision making. The formal rules, which were regulating the pecuniary procedures, e.g. bank loans, turned out inefficient – the credit managers were motivated with their bonuses to issue credits to anyone without real control. The questions of regulating structures, economic behaviour, innovations, modernisation, etc. are discussed in the political, economical and social circles.

The new regulative architecture is to be built on the principle of diversity of cultures and values’ scales, but of the uniformity of tools. We are living on a very small planet, and such accidents as nuclear plant’ damage or oil slick in an ocean, the financial banking collapse or a reserve currency downfall, concerns all the actors in the globalised world. The global regulation should represent the safety principles for human life and for world economic stability. This safety can be understood wide and include the control over the management of dangerous technologies, the attainment of minimal acceptable living standard to avoid social protests or poverty terrorism, etc.

The alter-globalism represents some ideas of global political regulation with social accent, to counterbalance the economic globalisation fulfilling by private corporations for the purpose of increasing benefits and effectiveness. But the crisis 2008-2010 gave evidence of the necessity to regulate the corporate and individual economic behaviour. The new configuration of world economy should be founded on the new regime of all economic relations, including the new understanding of the interdependence between property and responsibility, including the societal responsibility.

The analysis of the national economic results (PIB) demonstrates the successful surviving and even the growth during the crisis period of emerging countries of BRICS (except Russia) and of some economies that can be called “religious capitalism” (Saudi Arabia, Islamic Republic of Iran, People’s Republic of China, etc.). The research of specific features of this economies and of the State policies during crisis gives evidence of the strict influence of the background and contextual regulation on the financial results[59]. A. Smith created his famous Inquiry into the Nature and Causes of the Wealth of Nations (1776)[60], thought the mainframe for liberal market economy, on the basis of the social limits and religious norms, that he described in his Theory of Moral sentiments (1759)[61]. These constraints reflects the social institutional pressure to assure the sustainability and growth within a stable society, the cyclic reproduction of this society understood as an absolute value.

Culture determines the limits, therewith, it grants also the competences, the behavioural patterns and the skills to solve tasks, including the making change.



So, the reconfiguration of world economic regulative model would find the new placement in the axes:

· property – responsibility;

· culture – competences.

Now, the complex regulation, including the sustainability concept, represents some replies to the issues of the global innovative economic growth and its influence to the industrial relations, including the understanding of the new models of regulating. The modern situation in human resource management also needs to be subject of sustainability principles, especially due to the role of creativity as the basis for leadership in innovative world economy.

Today the local communities use various ways to assure the taking into account by corporations of their local interests, but they are still in very weak position in the coordination of the policy making and implementing by the regulative bodies at national, regional or global level.

The optimal regulating system will be able to assure the sustainable development only on the assumption of the concordance of local specific requirements with global interests of business and regional or national will of public administration, combining with all the rich set of regulative tools.

 

Questions and answers – examples

 

1. The post-modern world is fragmented and fractal, what is the ways to rule the chaotic social and organisational systems ?

 

The creative and innovative chaos in economic activity leads to the infinite encreasing of transaction costs, or even to the impossibility of any lont-term planned activity (as investment in infrastructure projects, etc.).

One of the tools to find the way out the chaos is regulation, introducing rules and assuring thier internalising in the personal mind.

So, the regulation is the old social response to chaos, this tool was represented in religion in the traditional society, and in the post-modern world the human beings attepmt to create the new form of regulation, with ethics as the core and with sophisticated and ingenious system of rules, sanctions and procedures.

 

Conclusion

 

The complex universe of an organisation needs the sophisticated model of governing, including the personalised management of concrete situations and actors, as well as the refined regulation with formal and informal rules, textual and contextual background.

In fact, organisational structure with strict hierarchy and corporative culture with deep background reflect one another in order to reinforce the goals and mission of the organisation.

Although the goal of the organisation values may be to respond to the needs of the community, administers, isolated from certain staff (organisational structure) leads to the inability to reach goals. The vacuous hierarchical position without a strong will to do a work also produces only the semblance of producing activity without any real results.

Organisational Theory explains the development, success and failure of organisations in the social, cultural, political and ideological contexts.

 

 


Date: 2016-03-03; view: 669


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