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Non-financial environmental, ethical, social, and governance (EESG) sustainability performance is growing in importance for corporations looking to create shared value for all stakeholders. The mission of profit-with-purpose seeks to create shareholder value and fulfill environmental, social, and governance responsibilities. In pursuing this profit-with-purpose mission, management is key in creating a balance between wealth-maximization for shareholders and welfare-maximization for all stakeholders. As sustainability initiatives are being incorporated into all levels and aspects of business, the global adoption of profit-with-purpose companies is inevitable. Anyone involved with business sustainability, corporate governance, or business finance will benefit from this book as it covers all aspects of business sustainability while focusing on the idea of profit-with-purpose. Chapter 1 introduces the concept of profit-with-purpose in promoting shared value creation for all stakeholders. Business sustainability is becoming more and more important to investors and regulators worldwide, and public companies are typically expected to disclose nonfinancial aspects of their sustainability performance in EESG areas. This chapter offers an overview of best practices of sustainability in moving toward the achievement of profit-with-purpose companies. With these best practices, future trends in sustainability performance, reporting, and assurance are presented. Profit-with-purpose companies have a dual mission: make a profit while also protecting stakeholder interests through their social benefit function. This represents a transition from pure shareholder primacy to stakeholder primacy. The effects of the COVID-19 pandemic on business are addressed throughout the chapter.

Non-financial environmental, ethical, social, and governance (EESG) sustainability performance is growing in importance for corporations looking to create shared value for all stakeholders. The mission of profit-with-purpose seeks to create shareholder value and fulfill environmental, social, and governance responsibilities. In pursuing this profit-with-purpose mission, management is key in creating a balance between wealth-maximization for shareholders and welfare-maximization for all stakeholders. As sustainability initiatives are being incorporated into all levels and aspects of business, the global adoption of profit-with-purpose companies is inevitable. Anyone involved with business sustainability, corporate governance, or business finance will benefit from this book as it covers all aspects of business sustainability while focusing on the idea of profit-with-purpose. Chapter 2 explores the concept of shared value creation for all stakeholders-shareholders, employees, customers, suppliers, communities, society, and the environment. A brief description of how companies are moving toward shared value creation is provided. Management has the biggest role in improving sustainability performance, managing related risks, and maximizing utilization of all capitals to create shared value for all stakeholders; the role of the board of directors is also discussed. Potential EESG issues need to be identified and integrated into strategic planning and supply chain management. The COVID-19 pandemic has influenced the idea of shared value and has encouraged companies to take specific EESG measures.

Non-financial environmental, ethical, social, and governance (EESG) sustainability performance is growing in importance for corporations looking to create shared value for all stakeholders. The mission of profit-with-purpose seeks to create shareholder value and fulfill environmental, social, and governance responsibilities. In pursuing this profit-with-purpose mission, management is key in creating a balance between wealth-maximization for shareholders and welfare-maximization for all stakeholders. As sustainability initiatives are being incorporated into all levels and aspects of business, the global adoption of profit-with-purpose companies is inevitable. Anyone involved with business sustainability, corporate governance, or business finance will benefit from this book as it covers all aspects of business sustainability while focusing on the idea of profit-with-purpose. Chapter 3 offers a discussion on the evolution, relevance, status, and future of benefit corporations (BCs). Benefit corporations are established to work toward some social good beyond their own interests. They are intended to maximize positive impacts, minimize negative effects, and create positive impacts on the community, environment, customers, employees, and suppliers. EESG is a major factor in measuring a benefit corporation's success. Benefit corporations have certain laws and regulations they have to follow. Examples of states with a benefit corporation legislation are provided with descriptions of the legislation; examples of benefit corporations are also given, including Etsy, Patagonia, and Tofurky. The structure of benefit corporations is explored, including how to create a new company in the benefit corporation form. Interest in benefit corporations has been growing in recent years and will continue to do so.

Non-financial environmental, ethical, social, and governance (EESG) sustainability performance is growing in importance for corporations looking to create shared value for all stakeholders. The mission of profit-with-purpose seeks to create shareholder value and fulfill environmental, social, and governance responsibilities. In pursuing this profit-with-purpose mission, management is key in creating a balance between wealth-maximization for shareholders and welfare-maximization for all stakeholders. As sustainability initiatives are being incorporated into all levels and aspects of business, the global adoption of profit-with-purpose companies is inevitable. Anyone involved with business sustainability, corporate governance, or business finance will benefit from this book as it covers all aspects of business sustainability while focusing on the idea of profit-with-purpose. Chapter 4 discusses how corporate culture enables the formation of social enterprises and hybrid organizations, two types of organizations whose purpose is to make a profit while generating positive impacts on society, communities, and the environment. Organizational culture is the environment that is influenced by unwritten and implicit rules, creating expectations for how people can behave and how organizations guide behavior and protect value through people. Corporate culture can play an important role in determining a business's mission and success. The board of directors sets the tone in promoting a culture of competency, fairness, and integrity. Hybrid organizations are entities that combine profit-seeking goals with a social mission; social enterprises are entities established to generate social and environmental impacts by conducting businesses with beneficiaries as patrons. Diversity, inclusion, and social justice in the workplace is becoming more and more important. A discussion of corporate culture and whistleblowing is also offered.