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Theoretical and Applied Economics
No. 1 / 2012 (566)

The New Governance and Globalization

Costantin ROMAN
Bucharest Academy of Economic Studies
Aureliana Geta ROMAN
Bucharest Academy of Economic Studies
Alexandru BOGHIU
Controller Institut Romania

Abstract. The changes in economy and the society require a new theory of value based on knowledge. A piece of information which is well documented and as well assimilated may be a substitute for substance, energy and another piece of information. After receiving the piece of information, our thinking needs to change dramatically, in order to consider the factors that make from it such a special value. In order to be able to face the uncertainty and complexity of modern world, a new type of governance appeared, which considers not only the need for informing stakeholders and satisfying them but also the ability of an entity to answer the new restrictions stated by the market through external bodies, the personnel of the said entity and its representatives, public opinion, etc. An entity shall not be assessed only based on some economic or profitability criteria, but also based on its ability to adapt and react, the ability to meet the expectations of the persons it uses, through a model attitude towards topics of general interest (ecology, ethics, inspecting people, rejection of any discrimination, etc.), in short, through its ability to become a citizen of the world.

Keywords: governance and globalization; the management of the complex relationship space – time – culture; innovation; the governance of the innovation system; change management; building the new governance.

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