Business Ethics and Corporate Governance, Second Edition

KEY GLOBAL ISSUES FOR BUSINESS

All of these developments have far-reaching consequences. Some of these favour business while others threaten it. The CRT affirms that the primary purpose of the corporation is to manage its business effectively. In doing so, however, global business cannot assert that ‘the only business of business is business’. It should seize the opportunity to be an active participant in contributing to peace, stability and prosperity. Many business leaders have recognized the implications of globalization for their corporations and have given increasing attention to the social concerns. A broad consensus has developed that business has a responsibility towards the communities it serves and depends upon, to contribute beyond ...