The companies’ view is increasingly changing, as a recent statement by 181 American CEOs (including leading companies Apple, Amazon, General Motors und Walmart): They cited the creation of value for all stakeholders and a positive impact on society as top corporate goals – even before maximizing the profit, as Prof Dr René Schmidpeter, Head – Center for Advanced Sustainable Management at the CBS and Dr. Meyer Stiftungslehrstuhl für Internationale Wirtschaftsethik, stated in his article “Reinventing Companies: More purpose, more profit” for the Börsenzeitung.
According to the scientist, the current framework conditions would lead companies to realign their business models minimizing any negative effects and keeping the positive effects for society as high as possible. Moreover, the formula is applied: The more positive the impact, the higher the entrepreneurial return.
“The new sustainable management perspective also has a further decisive advantage over the conventional model: It overcomes traditional contradictory thinking and systematically combines the dimensions of entrepreneurial action – economics, social affairs and ecology,” says Prof Dr René Schmidpeter.
Find the article here.