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The Value Based Enterprise

A New Corporate Citizenship Paradigm

It is both a pleasure and an honor to represent The Conference Board at an event celebrating the fiftieth anniversary of the founding of the Asia Foundation. Our organizations share a commitment to social betterment through improvements in governance systems and processes.

The subject of my remarks and a focus of serious Conference Board concern is the role of business organizations in civil society governance. The growing importance of companies in civil society governance is the product of many forces - corporate scandal, a stricter global regulatory regime, and an increased focus on enterprise risk management. The Value Based Enterprise (VBE) that I will discuss is a new corporate citizenship paradigm which recognizes the company's role in what University of Chicago professor Saskia Sassen calls "a new geography ofpower."

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