In Pursuit of Principle and Profit
IN THIS SUMMARY
Alan Reder examines the many ways companies worldwide are actively pursuing principle and profit as more and more high-profile companies engage in the exercise of social responsibility and at the same time, show enormous profits. Although a majority of Americans surveyed say they are willing to pay higher prices and favor for environmental protection, many have not put their money or their votes where their mouths are. Companies must develop and employ full-cost accounting and pricing of products based on life-cycle analyses, ensuring the full product cost including the environmental and social costs are incorporated into the products. Those costs must then be passed on to the ultimate consumer.