International economic development is the biggest challenge that global businesses face today. Companies are increasingly being held responsible for impacts of their products, processes and services on society and the environment. These impacts concern environmental effects and social effects in balance with the economic aspects of the company. This responsibility is called Corporate Responsibility or Corporate Citizenship and can include, but is not limited to, climate change, clean water, child labor, biodiversity, human rights, occupational health and safety, and poverty. Many companies are actively integrating sustainability principles into their business strategies by pursuing goals that go far beyond a concern for reputation management. Global corporations are saving energy and developing green products, which can help companies capture value through growth and return on capital. Increasingly more executives from large corporations state that sustainability programs make a positive contribution to their companies’ short- and long-term value.
- Professor: Sara Willox