Businesses are increasingly expected to engage with societal issues. Boards will need new skills to meet the challenge.
Image: Ali Jabber/Shutterstock
Recent events have once again posed questions about the role of business in society, particularly when it comes to issues of systemic discrimination and inequality. Business speaking out on issues of human rights is not a new phenomenon—I remember this from my time at The Body Shop 20 years ago—but there does seem to be much more of it about these days.
How seriously should we take this? Is there a real trend emerging? Or is it just virtue signalling in order to grab market share?
Here are some of my personal thoughts as I take up the role of co-chair of the World Economic Forum’s Global Future Council on Human Rights.
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More chief executives are being ousted from their roles for "ethical lapses", due to tightening regulation and governance, digital communications, the 24-hour news cycle and increased activity in developing economies.
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