The director at the Institute of Business Ethics discusses consumer backlash against misbehaving companies, how boards shape culture and UK reform of corporate governance.
What is it you think that businesses owe the societies in which they operate, beyond providing goods and services?
Business’s role in society is crucial. Businesses are made up of people and people have home lives as well as work lives, so there has to be an awareness about how business is operating.
Businesses need to provide goods and services to good quality, to time, good price and so on. But they need to recognise mutual benefit to themselves and to everybody they deal with, including suppliers, customers and shareholders.