Sustainable development is about business, not philanthropy. It is about performance, not promises. But, says Philip Watts, it is a responsibility that business cannot shirk. The future of our planet and of human society depends on sustainable development. Business has an essential role in contributing to this – by finding innovative ways of meeting present…
US accounting scandals have done nothing to help the cause of better corporate governance in emerging markets. Despite the lack of a role model, corporate standards in developing countries are improving slowly – through better transparency, disclosure and accountability. And it is clear that investors and financial markets are starting to reward companies that have…
Crisis prevention in emerging markets has improved a good deal in recent years, says Josef Ackermann. But a stronger and more stable international financial system also needs better crisis management. – As we move towards our shared goal of a more stable financial system, we need a recipe for an institutional framework that fits the…
Nowhere in the world is the loss of faith in big business more evident than in developing countries. But multinational companies can do a great deal to improve local governance in these countries – and, in doing so, help their own interests. The world is coming out of a decade of enormous prosperity and success…
A company’s reputation as a corporate citizen will increasingly determine whether customers choose to do business with it or not, says Uwe Dörken. The logistics and transportation sector plays a fundamental role in economic development and as the enabler of global commerce. However, social and environmental topics such as climate change, oil tanker spills, airport…
What is the right way of aligning executive pay and shareholder value? First, say Orit Gadiesh, Marcia Blenko and Robin Buchanan, be clear about what really drives a company’s value. Second, link pay to successful strategy execution, as well as to outperforming peers in the stock market Sidney Taurel, CEO of the US pharmaceutical company…
Private ethics and public corporate integrity are indivisible, says Samuel DiPiazza. That is the key lesson of recent business scandals. What is necessary now is to establish codes and systems – both personal and corporate – that will spur courage and combat fear Private ethics used to be just that – a private matter. Ethics…
Corporate social responsibility should not be simply a reactive affair, say Rajat Gupta and Paul Coombes. Companies should become more proactive, engaging NGOs and other organizations in full debate and promoting the positive aspects of their agendas. In this way, they can turn corporate social responsibility to everyone’s advantage – After a year filled with…
Sustainable development and improved corporate governance will be the hallmarks of successful business in the 21st century. Those who ignore this trend risk a backlash from financial markets as much as from society itself. Robert Kinloch Massie reports on how the combined forces of two powerful investor movements are redefining investment risk and boardroom strategy…
After the recent scandals, only a complete overhaul of business ethics can restore the integrity of the corporate and financial worlds. What is needed, above all, is leadership. Jeffrey Garten spells out what needs to be done – and who needs to do it. – American business scandals have usually unfolded in a predictable pattern….
