Weak economy could mean little progress for corporate responsibility. The shine has gone off the bloom of the boom.
Recession seems to be a possibility on the horizon.
As stock prices have crumbled, so the fortunes of thousands of new economy entrepreneurs have plummeted, while the insecurity of tenure of the chieftains of many of the largest multinational corporations has rarely been greater. This is the gloomy reality as these chieftains come to Davos for their annual deliberations. While the leaders of nongovernmental organizations may wish to encounter the businessmen in debate on global corporate responsibility, it is improbable that there will be as much patience for this topic as in the last couple of years. Pressures have mounted on business in recent years to demonstrate greater social responsibility. Business has been increasingly called upon to engage in constructive discussions about the ways in which it can make a more positive contribution to globalization.