Is the exclusive aim of the corporation to maximize profit and shareholder value or does it have an obligation to do more? This question—and dilemma—has been vigorously debated since Milton Friedman posed that the only responsibility of business should be business. This crucible is now a moot issue. It is commonly accepted that corporations should go beyond financial viability and act as environmental stewards, promote social responsibility, advance economic development, all while exhibiting exemplary ethical behavior, transparency and accountability. And in Latin America, there are a number of drivers that have contributed to wider spread of corporate thought and action with respect to sustainability. Read the full column at Latin Trade by Jerry Haar and Carlos Parra, professors and researchers […]
Corporate sustainability—the new mandate
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