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Societal perceptions of the role of business have shifted markedly in the last two decades. While the core function of business remains innovation, technology development, capital investment and the implementation of sound management capability for wealth creation, business is increasingly being looked upon as a bringer of solutions to global problems.
In the 21st century, many stakeholders agree that:
- … the fundamental purpose of business is to provide continually improving goods and services for increasing numbers of people at prices that they can afford;
- … leading global companies will be those that provide goods and services and reach new customers in ways that address the world's major challenges ; and
- If action to address such issues is to be substantial and sustainable, it must also be profitable …
Business now needs to define the appropriate boundaries of its new role, and manage societal expectations proactively.
Within the WBCSD work program The Business Role is positioned as a cross-cutting Focus Area – one dedicated to exploring issues around the role of business, but also looking at the role of business as it relates specifically to the other Focus Areas (Energy & Climate, Development and Ecosystems).
The Business Role Focus Areas aims to engage, equip and mobilize current and future business leaders to demonstrate business’ evolving role in a sustainable society and to assist it to achieve this new vision.
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