Industry has prospered but the start of the new decade brings a new period with challenges including climate change, ‘black swan’ events and population growth. Companies are moving away from shareholder dominance to a model which focuses on ‘sustainable value’ for all stakeholders, because companies who are trusted by all stakeholders emerge faster and stronger from volatility and uncertainty.
“At a very basic level, the competitiveness of a company and the health of the communities around it are closely intertwined. A business needs a successful community, not only to create demand for its products but also to provide critical public assets and a supportive environment. A community needs successful businesses to provide jobs and wealth creation opportunities for its citizens”
Mark Kramer, Harvard University, and Michael Porter