Do companies have a moral or ethical obligation to be good corporate citizens? This question is being considered by business managers around the globe, as the pressure to fall in step with the concept of corporate responsibility intensifies. Corporate responsibility is defined by the World Business Council for Sustainable Development as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.”

Several studies have now found that companies with a focus on corporate responsibility are beginning to outperform their peers financially, with the highest rated SERM (a socially responsible investing methodology) companies outperforming the index by 9.2% and companies listed on the Dow Jones Sustainability Index outperforming their peers by 5.5%. Companies ranging from Pfizer to UPS and ExxonMobil to General Electric now annually cite their achievements related to corporate responsibility in polished, glossy reports. A wave of commitment to the “triple bottom line” appears to be solidifying.

A comprehensive analysis, or at least an awareness of a company’s economic, social and environmental footprint will become an increasingly valued skill set as businesses struggle to adjust to the pressures of increased governance oversight, climate change ramifications, and rising stakeholder pressures. The George Washington University School of Business—through the Institute for Corporate Responsibility (ICR)—is committed to preparing the next generation of business leaders to take an active role in initiating and integrating corporate responsibility.