By Stuart L. Hart
Capitalism is certainly at a crossroads, dealing with foreign terrorism, all over the world environmental switch, and an accelerating backlash opposed to globalization. businesses are at crossroads, too: discovering new concepts for ecocnomic progress is now more difficult. either units of difficulties are in detail associated. how one can establish sustainable items and applied sciences that could force new progress whereas additionally aiding to unravel state-of-the-art most important social and environmental difficulties. Hart exhibits how you can develop into really indigenous to all markets — and steer clear of the pitfalls of conventional 'greening' and 'sustainability' options. This booklet does not simply element the best way to a capitalism that's extra inclusive and extra welcome: it bargains particular recommendations to recharge innovation, development, and profitability.
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Extra resources for Capitalism at the Crossroads: The Unlimited Business Opportunities in Solving the World's Most Difficult Problems
They shattered the myth that business should treat societal issues as expensive obligations. Instead, seen through the prism of quality and stakeholder management, these issues could become important opportunities for the company to improve its societal and operating performance simultaneously. A growing body of research pointed to the potential for enhanced financial performance through well-executed pollution prevention and product stewardship strategies. Pioneers such as 3M, Dow, and Dupont realized significant cost reductions and enhanced reputations as a result of their activities.
As a freshly minted college graduate headed to Yale for graduate work in the School of Forestry and Environmental Studies, I was convinced that corporations were the “enemy” and that the only way to deal effectively with environmental problems was to “make them pay” through regulation—to internalize their externalities, in the jargon of economics. This was probably a correct perception at that point in history: Large corporations, by and large, had been unresponsive to environmental issues, and it appeared that the only way to deal with the problem was to force them to clean up the mess they were making.
Other stakeholder groups included the millions of small farmers in developing countries such as India. These farmers protested against Monsanto in the streets, fearing that the company would enforce patents on essential grains and make them pay international prices for the seed they planted. Moreover, the farmers were concerned that Monsanto’s patent ownership (via acquisition) of the “terminator” gene (seedsterilization technology) would not allow them to practice the age-old tradition of propagating seeds from their own crops.
Capitalism at the Crossroads: The Unlimited Business Opportunities in Solving the World's Most Difficult Problems by Stuart L. Hart