The future of the highstreet

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Richard Huntington

A presentation given at an Oystercatchers event on Saatchi & Saatchi research into the future of the highstreet.

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www.seribangash.com A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA: Contents of Memorandum of Association: Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company. https://seribangash.com/article-of-association-is-legal-doc-of-company/ Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent. Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause. www.seribangash.com Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up. https://seribangash.com/promotors-is-person-conceived-formation-company/ Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value. Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA. Importance of Memorandum of Association: Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process. Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations. Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability. External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers. https://seribangash.com/difference-public-and-private-company-law/ Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void. Amendment of MOA: While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder

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Communicative rationality and justice, the main objectives of Habermas’ reconstruction of critical social theory, can be defined as the fair distribution of opportunities to speak, the inclusive participation of social actors, the accessibility of topics without restriction, the willingness to not only speak but listen, two-way vibrant interaction, self-transformation via learning from others, and reaching voluntary agreements over common goals and values. The concept of communicative reciprocity is essential here. Those equipped with the norm of reciprocity can better comprehend diversities and complexities, as well as the conflict-ridden aspects of social life, and thus can develop a stronger capacity of nurturing sensitivity to live in harmony with other people. This paper attempts to apply the concept of communicative rationality and reciprocity to the areas of business ethics in order to explore the significance of Corporate Social Responsibility (CSR) and Ecological and Social Governance (ESG) as innovations in corporate governance. In addition, this paper will draw special attention to Stockowner–Employee (SOE) partnership as a new experiment of business ethics in Republic of Korea. By doing so, this paper aims to grasp the attributes of those who are more capable than others of understanding the norms and practices of CSR within an economic enterprise, with the view that reciprocal sympathy can serve as a communicative basis for what we might call responsible capitalist culture. The main arguments this paper makes are: (1) the recent change in the value orientations of shareholders in support for CSR and ESG can be interpreted as an expression of communicative reciprocity and justice; and (2) the transformation of business ethics in the direction of CSR and ESG means that classical liberalism has begun to turn to a “responsible” liberalism. Survey data collected from a Korean company will be analyzed to show how the norm of reciprocity is reflected in the relationship between corporations and society on the one hand and between shareholders and employees on the other.

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