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Diffusion of the Ethical Philosophy of Good Governance at the National Oil Company of South Africa

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  • Rene Winifred Albertus

Abstract

This article seeks to examine challenges affecting the ethical philosophy of senior management at South Africa’s national oil and gas company. South Africa’s economy has been downgraded to junk status due to mismanagement of public funds in public enterprises. Government parastatals have come under major scrutiny in recent years for transgressing the code of good conduct prescribed by the King Report. The article presents a conceptual exploration of corporate governance challenges and is underpinned by diffusion of responsibility and moral hypocrisy which has roots in social psychology. Social psychology can be used as an overlap for strategy and institutional concepts, which encourages new ways of addressing corporate responsibility. The research reveals the impact on state enterprises financial stability when senior management diffuses responsibility and is not prosecuted or held accountable under the constitutional Act 108 of 1996. The article highlights one of the many corporate responsibility transgressions by state-owned enterprises who should be responsible for building the economy rather than destroying public value.

Suggested Citation

  • Rene Winifred Albertus, 2019. "Diffusion of the Ethical Philosophy of Good Governance at the National Oil Company of South Africa," Indian Journal of Corporate Governance, , vol. 12(1), pages 59-70, June.
    • Handle: RePEc:sae:ijcgvn:v:12:y:2019:i:1:p:59-70
    DOI: 10.1177/0974686219836543
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    References listed on IDEAS

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    1. Melinda Vaughn & Lori Verstegen Ryan, 2006. "Corporate Governance in South Africa: a bellwether for the continent?," Corporate Governance: An International Review, Wiley Blackwell, vol. 14(5), pages 504-512, September.
    2. Joseph A. Petrick & Robert F. Scherer, 2003. "The Enron Scandal and the Neglect of Management Integrity Capacity," American Journal of Business, Emerald Group Publishing, vol. 18(1), pages 37-50.
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