Good corporate citizenry, no longer a choice but a necessity
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15th August 2017

When queried at a 1909 business meeting about the choice of colors available for his automobiles, Henry Ford replied that customers could have any color they wanted as long as it is black. Fast forward to the late 20th and early 21st centuries and consumers today are now in the driver’s seat (no pun intended). Publications such as Consumer Reports, CNET, and a myriad of other independent professional and consumer reviews of goods and services empower buyers, dictating to producers the style, features, and price ranges that consumers seek.
The technological revolution has also given the ordinary citizen tools to influence almost directly and instantaneously the stock value of a company. Investors have suddenly awakened in a world where capital begin to address those companies that understand the importance of being good “corporate citizens.”
Being a good “corporate citizen” implies not only acting in accordance with the legal, ethical and economic norms established by the shareholders, but also acting responsibly towards consumers, employees, society in general and the environment. It also entails incorporating good governance practices that allow investors to accurately assess the financial future of the company and to transparently visualize its main risks.
However, consumers increasingly view the private sector as a major agent responsible for the deterioration of the environment. According to the UN’s Food and Agricultural …

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