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The growing importance of corporate conscience

Guided by a sense of right and wrong, companies are increasingly balancing the interests of all stakeholders.

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According to Mr Schwab, a company fulfils human and societal aspirations as part of the broader social system.

THE economist Milton Friedman famously wrote that "there is one and only one social responsibility of business - to use its resources and engage in activities designed to increase its profits". Covid-19 has, however, accelerated the evolution of organisations' broader value to society.

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