Business Environment, 4th Edition by Pearson

484 | Chapter 17

sustainability of a business. It is a value because it stresses the fact that business and

markets are essentially aimed at the well-being of the society. It is a strategy because

it helps to reduce social tensions and facilitate the markets.

For the new generation of corporate leaders, optimisation of profits is the key,

rather than the maximisation of profit. Hence, there is a shift from accountability to

‘shareholders’ to accountability to ‘stakeholders’ (including employees, consumers,

and aected communities). There is a growing realisation that long-term business

success can only be achieved by companies that recognise that ...