There are many definitions of Corporate Governance, as a structure, as process, as policies, as mechanisms, but despite their differences of focus, they mainly addressed the sustainable economic growth and protection of shareholders and other stakeholder’s rights. The purpose here is to present the evolution of the main principles and frameworks as corporate and financial environment changes and set new challenges. Some important scandals that revealed the weaknesses of corporate governance frameworks are described to complement the comprehension of the object of it. It is detached the aspects simulated or ignored and the subsequent enforcement and monitoring response. Discussion about the new challenges, what corporate governance is supposed to provide and what it can promote, closes this chapter.
Part of the book: Corporate Governance and Strategic Decision Making
The chapter presented the evolution of Corporate Social Responsibility and Sustainability concepts and frameworks developed in order to integrate them into management (norms, certifications, indicators, standards, reports and indexes). Then it presents 3 case studies of successful companies that are benchmarking references in CSR - Sustainability strategies and practices and how they achieved their results. The first one is Natura, from cosmetic sector, recognized for its pioneering role in socio-environmental activities and investments in product innovation, in particular the Ekos’ line that extracts raw materials from Amazon rainforest, while preserves it. The other two belong to agrobusiness sector. One is Native, brand of the Balbo Organization (1946), a traditional family for the sugar and ethanol sector. It had changed its operational processes and launched the Native brand for organic sugar. Today is a reference for the organic market, operating in 70 countries, being the world’s largest producer of organic sugar and alcohol. The other one is BSBIOS, a vertical company of agroenergy. Founded in 2005, today is the largest national producer of biodiesel to national and international market. They all attend to sustainability model, but it is embedded in different ways into their corporate strategy.
Part of the book: Corporate Social Responsibility