Open markets, open societies: The Importance of Democracy and Openness to the World (Lunch Session)

Dear biosaxony members and interested parties,

In a globalised world, open markets and open societies form the basis for economic success and social stability: after all, they promote the free exchange of ideas, goods and services and enable innovation and economic growth. However, these foundations are under threat (not only) in Germany: populism, right-wing extremism and political instability are on the rise. Current developments could lead to long-term social, political and economic uncertainty. They can permanently undermine trust in democratic institutions and the rule of law, exacerbate social tensions and hinder investment and trade. Germany's image as an attractive place to work can be severely damaged as a result. Open markets and societies are essential, especially for high-tech industries, whose economic basis is largely based on an international workforce and the unhindered exchange of knowledge and innovations.

In light of the upcoming state elections in Saxony, companies are particularly challenged to reflect not only on their economic role, but also on their socio-political responsibility. They need to ask themselves how they can actively promote open societies and democracy as the basis of their business activities. But what can this commitment look like? What room for manoeuvre exists and where are the limits? To what extent can, may and should companies position themselves? How can they ensure that their socio-political and coordinated internal company activities do not have an unintended detrimental effect on business?

Markus Scholz is Professor of Business Administration with a focus on Responsible Management at the Technical University of Dresden. He will shed light on the questions of what cosmopolitanism means for the economy and what effects current political developments can have on Germany as a business location. Using concrete examples, also from other countries, he will show which strategies companies can pursue in order to become socio-politically active. He will emphasise not only the moral obligation, but also the economic benefits of proactive socio-political engagement.

Scholz conducts intensive research in the areas of innovation and transformation, strategic management and business ethics. He is particularly interested in the topics of business and human rights as well as political engagement and corporate political responsibility. Scholz brings his extensive expertise in working with multinational corporations, family businesses, governmental and non-governmental organisations to his lecture.

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