Responsible business strategy and corporate leadership

Mankind might be better placed to address shared and inter-related existential challenges and associated opportunities if more boards ensured corporate purpose and the formulation and execution of strategy were responsible and aligned. Some business leaders find it difficult to effectively respond to rapidly changing situations and circumstances. Doing so responsibly with current governance and organisational arrangements and practices poses questions for directors, boards and the capitalist system. The intractable nature of certain issues has implications for setting strategic direction and assessing firm performance. Intelligent steering rather than traditional planning and a broader and more strategic approach to CSR may be required. Many business leaders need to regain trust, engage with a wider range of interests and transition to more responsible enterprise, capitalism and leadership. Repurposing to address shared social and environmental challenges and pursue sustainable development goals may help to achieve this