Family Business: Achieving Excellence in Ownership, Leadership, Governance and Responsibility

 Ever-increasing pressure on businesses to pursue and report on their Corporate Social Responsibility (‘CSR’) objectives in a transparent manner adds to the momentum – and range of potential opportunities in this area.

Clients, end customers and regulators are all increasing demands for responsible business practices, ethically sourced products, and insisting on assurances regarding the entire supply chain from their suppliers – even beyond the part they actually control. NGOs risk

As the negative impact of climate change accelerates, diversity and equality issues become more visible, and as workplace safety concerns rise, companies now face the need to manage, and report on, a series of both internal and external issues. Increasingly, measurable performance in these areas is being required in order to comply with Global Reporting Initiatives and International Financial Reporting Standards.

Internal issues include: product security and quality, workplace safety, gender and other forms of diversity, business system/supply chain, compliance, reporting and governance.

External Issues include: issues with an impact on the environment, local communities, especially in poor countries and emerging markets, food standards, obesity, fair trade standards, and industrial bodies setting and monitoring standards.

A range of options has emerged to subscribe and support specific goals promulgated and promoted by the United Nations (Sustainable Development Goals), the World Business Council for Sustainable Development and its support for the Circular Economy, various industry bodies such as palm oil, sugar and other commodity sector groups, and other such entities.

The availability of ‘green finance’ from banks and investment funds has increased the interest of some companies in this area as well.