Thursday, December 10, 2009

Part Two: Putting Principles into Action

These principles, identified by the authors, serve as a framework for building CSR and long-term value for any companies. Each of the seven principles is illustrated with case studies throughout the book.

Principle #1: Harness Innovation for Public Good

In a business framework as globalized as today’s is, corporate competitiveness is central to achieving sustainable growth. Many companies have come to understand that incorporating ethical and environmental innovation has indeed helped create a distinctive advantage. Companies examined throughout this chapter are amongst those that, through sustainable innovation, have become leaders in many industries.

One example that caught my attention is DuPont, a leader in the chemical industry. Going back to the late 1980s, when concerns about chlorofluorocarbons (CFCs) and the ozone layer were rising, DuPont strategically decided to invest in finding an alternative to using substances that deplete the ozone layer. After the 1990s, some of these tactics, formerly seen as expensive and not worthwhile, have now become comparative advantages (win-win approaches) which have given enterprises a distinct advantage over their competitors

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