Product Description

Written by the CEOs of Shell, DuPont, and Anova, Walking the Talk: The Business Case for Sustainable Development is the most important book about corporate responsibility and yet it is written by business for business. For the first time anywhere, leading industrialists show than an integration of sustainable development goals -- economic growth, social justice and ecological balance -- into corporate strategy will provide lasting shareholder value and immediate bottom-line returns. Even more remarkably, the authors insist that a global partnership -- between governments, business, and civil society -- is essential, if moves towards globalization are to maximize opportunities for all -- especially the world's poor.

Product Details

• Amazon Sales Rank: #523186 in Books
• Published on: 2002-09
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 288 pages

Customer Reviews

a persuasive business case
In the next society', observes Peter Drucker, 'the biggest challenge for the large company - especially for the multinational-may be its social legitimacy: its values, its missions, its vision.' (quoted on P. 128 of Walking the Talk).
The World Business Council for Sustainable Development (WBCSD) is an association of over 160 large companies who believe that the imperatives of making a profit are compatible with "... [running] their companies in the best interests of human society and the natural environment, now and in the future."
The book seeks to explore the opportunities and problems in doing so, and to describe the progress made over the last ten years. It is overtly evangelical, seeking to recruit more successful businesses (and specifically their CEOs) to the cause of sustainability as the authors define it. The authors are writing within a mental model that believes in the benefits of free markets, globalization, continuing economic growth and in the contemporary model of business. Although they recognize that there are alternative mental models, their primary purpose is not to address these, but to persuade those who share their broad views (which would include the vast majority of business people) that a concern for environmental sustainability and social justice is good business - that pursuit of these wider goals is the best way of ensuring a healthy bottom line now and in the future.
The book is well argued within its framework. More important, it carries the names of three of the world's most senior Chief Executives, which gives it immense clout in its avowed task of persuading other CEOs to joint the sustainability movement.
A 'foundation' chapter, which describes the business case for sustainability, is followed by a brief overview of each of ten key elements in moving toward sustainability, with each chapter illustrated with detailed case studies (significantly, they are nearly all companies and utilities which supply to industrial markets).
In building their case, they identify the dilemmas, and particularly the issue of how to balance concern for the future with prudence in the present. They also note that current market failures (failure to price for 'externalities', perverse subsidies, inappropriate tax regimes) make it more difficult to persuade many companies that pursuit of sustainability is in their best interest. In consequence, they call for partnership with government to correct these problems, and describe experience to date and needs for the future.
The 'ten building blocks' therefore include chapters on The Right Framework - what conditions are needed for business success truly to reflect sustainable operation - and From Dialogue to Partnership - how to enter partnership with the full range of stakeholders.
Too much of the literature on sustainability is taken up with immoderate attack on business and globalization - often with the inference that it is inherently evil - and equally immoderate defence of the (implied) perfection of the present state of globalization and behaviour of companies. It is therefore very refreshing to have an impeccable business source that acknowledges the move to sustainability as important business that is still in its early stages and is prepared to describe the successes, failings, dilemmas and rewards on the journey to sustainability.
Given their objective, there are some important and difficult issues that the authors do not tackle. For example, Hamilton in Growth Fetish, points to:
* the inadequacy of economic measures of progress,
* the importance of a distinction between growth and development and
* the evils of a framework that systematically promotes over-consumption.
These issues need to be argued, and could have very serious implications for business, but they are not the subject of this book.
Those who have a radically different view of the current business system and who disagree with the authors' views on globalization may well see the book as simply offering symptomatic solutions without tackling the real issues. They will none the less take comfort from the fact that community protests about unacceptable business activities (environmental degradation, comfort to repressive regimes, sweatshop labour) clearly send signals that influence the behaviour of corporate decision makers.

Credibility
One of the authors of this book is Mr. Philip Watts, chairman of Shell until 2003. He left the company after it was revealed that under his mandate, Shell has inflated its oil reserves by 20%, with his knowledge and influence. Although the book seems consistent and based on real facts, his presence as an author make it a bit unreliable. I did not realize he is one of the authors. If I knew it, I would never buy it. Check "Chapter 2 - The Right Framework", particulalrly the item "Transparency and Accountability" and then check the reports on Mr Watts' activities and behaviour at Shell. How can one trust on what reads??

A fascinating insight into better business practise.
This book will be of interest to anyone remotely curious about economics, finance, society and progress. It is a concrete and realistic account of how businesses can engage in a medium/long term win-win game, benefiting both sustainable development and companies. It shows the evolution in business practise, and the future trend it is likely to take because of the new dimension of competitively in such troubled times: sustainability.

A clear and transparent account of how to achieve it (and what the past and current attempts are) is made through theoretical definitions of eco-efficiency, corporate social responsibility, the role of innovation, the attempt to control market failures, and make both frameworks and consumer choice allies in achieving more environmentally and socially viable economic growth. Those are illustrated by 66 case studies ranging from all sectors and countries. It dares to face many different scenarios so as to recognise possible costs or tradeoffs, but manages to prove the overwhelming victory of the business case for sustainable development.

The importance of this book, setting the trend for the next 60 years or so, comes from the fact that it was written by credible businessman. Their vision on today's and tomorrow's business practise is sharp. As a student at the London School of Economics, concentrating on how markets can bring more efficient solutions to poverty, corruption and environmental crisis, this book comes in as one of my absolute favourites. It is easy to read, and very actual. Though there aren't any easy answers to the problems it tackles, the book provides an important insight of the role of businesses in achieving sustainable development, and the clear advantages that emanate from doing so.