What is the role of business in development of society?

A diversecivil societyis a crucial part of creating and maintaining a healthy democracy and tackling sustainable development challenges. Examples include watchdogs; campaigning org

What is the role of business in development of society?

A diversecivil societyis a crucial part of creating and maintaining a healthy democracy and tackling sustainable development challenges. Examples include watchdogs; campaigning organisations; those representing people with little power; intermediaries between the citizen and business or government; information providers; or groups developing alternative ways of living.

The role and form ofbusinessin democracies is a crucial part of thinking through how democracy may need to change. In some areas, businesses have been leading transitions towards sustainability, whilst, in others, they have used their power and influence to block change.

One way in which some businesses and organisations are adapting to the challenges of sustainable development, is by increasing their wider accountability to local communities and stakeholders, as well as incorporating more participative and democratic decision-making through their evolving governance models and missions. These approaches are, alongside measurement and operational changes, designed to better align their impacts with the needs of the wider society and environment, as well as meet direct stakeholder needs appropriately (including those of finance).

For example, co-operatives have now included sustainable developmentas one of their core principles, underpinning their core democratic ownership and decision-making model; andRiversimpleis an example of a business which is radically changing the way in which a shareholder company can be designed, with value created and shared through theirFuture GuardianTMGovernance.

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