This is the question Markus Scholz raises in his book “Wirtschaft mit Werten” (transl. Economy with Values). His answer is clear: companies carry responsibility for the values of liberal democracy. Not only for moral reasons, but also out of pure self‑interest. Without stable democratic institutions, there are no reliable markets, no innovation, and no long-term value creation.
Ethical business conduct is therefore not a “nice to have” but a strategic necessity. It requires companies to rethink their role: responsibility not as a PR exercise, but as a genuine stance.
Scholz outlines five concrete proposals for how companies can actively strengthen liberal democracy:
Number 1 – Develop a values compass: Companies need clearly defined values and a consistent stance. Such a compass provides orientation for employees and enables leadership to make coherent decisions. Internally and externally.
Number 2 – Establish dialogue formats on the “Open Society”: Instead of one-way moral appeals, companies should foster real conversations: with employees, customers, and the broader public. Town halls, talk shows, and open forums encourage exchange and help prevent polarization.
Number 3 – Strengthen co-determination: Where employees are involved in decision-making, where conflicts are resolved through dialogue, and where democratic principles are practiced, the workplace becomes a learning and protective space for democratic culture. Co-determination becomes a training ground for democracy.
Number 4 – Anchor political responsibility in supervisory bodies: The question of a company’s societal role belongs on the agenda of the supervisory board. Ethics, sustainability, or societal committees can create the structures needed to take this responsibility seriously.
Number 5 – Support civil society initiatives: Companies can strengthen organizations that promote openness, pluralism, and tolerance. Such engagement increases the resilience of the open society and with it, the stability of the social market economy.
From my perspective, these five points form a convincing recipe for long-term impact and trust-building. They act as an antidote to the all-too-common “washing” strategies that evaporate at the first sign of political headwinds. Those who understand responsibility as a stance do not sway like a weather vane.
In the end, one insight remains: Companies do not protect liberal democracy out of altruism, but because they cannot thrive without it. Democracy is a location factor and a risk when it erodes.
What responsibility should companies take today to protect the open society and where do you draw the line between a corporate stance and political overreach?
I’m Bernd Scharbert, and I teach Business Ethics at the University of Applied Sciences Albstadt-Sigmaringen for undergraduate business students. I also support leaders on sustainability, diversity & inclusion, intercultural leadership, and sustainable ways of working. If this resonates with you, I’d be happy to continue the conversation.
