ABSTRACT
Two main factors caused business and society to diverge in the second half of the 20th century: a change in the way business success was defined and rewarded; and a change in our notion of society and therefore the social context in which business is expected to operate. The transparency of the digital age is shining a light into every dark corner of business, every shadowy place where the connection with society has been forgotten. Treating workers like slaves is becoming toxic for businesses;ignoring the social impacts of supply chains threatens their reputations and ability to do business. People have the power of wallet and they will increasingly only support companies that are responsible and that make a positive contribution. Manipulating Libor or foreign exchange rates, selling horse meat instead of beef, buying textiles from a collapsing factory or cheating on emission standards is just not cool anymore. In this age of transparency, the market capitalisation of companies can change fast.
