The effective integration of sustainability in business strategy was the invitation made by Horacio Arredondo as the guest speaker of Coparmex.
By INSTITUTIONAL COMMUNICATION | EGADE BUSINESS SCHOOL
How can companies help to build more democracy?
This was the question addressed by Horacio Arredondo, dean of EGADE Business School, in his talk “The Paradox of Democracy and the Role of Business”, offered today within the framework of the National Meeting of the Coparmex Democratic Development Commission, in Mexico City.
As the guest speaker, Arredondo warned that there is a lack of connection in public debate between the role of business and the state of society and democracy.
Companies can contribute to the expansion of democracy in the country by rethinking the future of business, the Dean explained.
“The generation of socioeconomic equality represents a multidimensional challenge that requires the effective incorporation of sustainability into business strategy,” he said.
Arredondo urged the business sector to strengthen trust to generate real change in the future of business and society and, in this way, rebuild the social fabric and create broad social impact.
He also stressed the need to improve governance and anti-corruption processes at a macro and micro level in Mexico, a country that has stagnated in the perception of corruption, according to CPI 2022.
“We need to promote transparent business processes that prioritize competition, innovation, and the generation of attractive value proposals. More competitive markets help to diminish the existence of corruption and favoritisms,” he stated.
On bringing his talk to a close, Arredondo invited the entrepreneurs to integrate sustainability effectively into their business strategy, and to invest in the development of their collaborators and communities, seeking to impact society and strengthen democracy.
“We need to speak up and demonstrate that business is the solution and not the problem. In order to be, rather than to seem, we need more competition, innovation, and transparency in the business world,” he concluded.