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24 Okla. L. Rev. 279 (1971)
Corporate Responsibility and the Employee's Duty of Loyalty and Obedience: A Preliminary Inquiry

handle is hein.journals/oklrv24 and id is 289 raw text is: OKLAHOMA LAW REVIEW VOLUME 24 AUGUST, 1971 NUMBER 3 CORPORATE RESPONSIBILITY AND THE EMPLOYEE'S DUTY OF LOYALTY AND OBEDIENCE: A PRELIMINARY INQUIRY PHILLIP I. BLUMBERG* I. INTRODUCTION The nature of the American corporate world is changing, reflecting changing concepts of the objectives, role and responsibilities of business. The public corporation as a social and economic organization is under- going a process of re-examination which has not yet run its course, and the ultimate outcome of which one may still not safely predict. There is gen- eral acceptance of the concept of corporate social responsibility with the major public corporation assuming a role of increasing significance in social problem solving. Although highly controversial and not generally accepted, there is also increasing expression of a new view of the large American corporation as a social institution to achieve social objectives, rather than as an economic institution to be operated for economic ob- jectives for the benefit of shareholders. It is inevitable, therefore, that as a corollary, new views will also emerge with respect to the changing rela- tionship between the corporation and the groups vitally affected by it, particularly its employees, as well as such other groups as consumers, suppliers, and the public generally. II. THREE RECENT DEVELOPMENTS This article constitutes a preliminary inquiry into aspects of a prob- lem that the author believes will become an area of dynamic change in the corporate organization and in time will produce significant change in * Professor of Law, Boston University School of Law. A.B., 1939, Harvard; LL.B., 1942, Harvard. Member of the New York and Massachusetts bar.

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