Whatever ethnic, religious, or other cultural boundaries may have evolved through history, a global corporate culture is increasingly subsuming these traditional divisions. Multinational corporations, internationally linked securities markets, and omnipresent communication networks characterize this global corporate culture. The dynamics of corporate culture centres on the intricate web of contractual relations between stakeholders. This study addresses the question of how these stakeholder contracts can be most efficiently enforced. Three alternative contractual enforcement mechanisms are identified: the legal system, a generally accepted moral code, and stakeholders' desire to build and maintain reputations. Each alternative is critically evaluated and conclusions are drawn as to the relative feasibility and desirability of each enforcement mechanism.
Within the last decade there has been a growing awareness of the interdependence of our planet's socio-economic systems. Traditional national, religious, and political boundaries are weakening in the wake of this globalization of corporate culture. In this article I use the phrase "global corporate culture" somewhat loosely to define the ethereal amalgamation of business enviromnents in which firms currendy operate) What follows is based on the premise that, during the next decade, the integration