The Ten Essentials of Responsible Business Conduct

In the past, companies engaged in mere philanthropy, addressing the needs of a variety of communities via the projects they had selected. Today, in addition to their philanthropic initiatives, these same companies undertake activities that address the concerns of their key stakeholders. In fact, an increasing number of stakeholders, including shareholders, consumers, employees, suppliers, governments, NGOs, and investors, among others, are becoming more concerned about companies’ activities and their environmental and social impact. As a result, an increasing number of businesses are feeling compelled to enhance cooperation with their stakeholders. To succeed, their initial steps should involve developing a corporate social responsibility (CSR) strategy and a sustainability policy, with the ultimate goal being the creation of shared value solutions.