In recent times, there has been a significant shift in understanding the role that businesses play in society. In the past, there was an accepted understanding that the objective of a company was to maximise short-term profits and returns for its shareholders. However, businesses can no longer absolve their duty towards the public at large under the garb of existing only to make profits. The purpose of a corporation is no longer seen only from an economic and market perspective. Non-financial indicators, like social performance and how a company manages human rights risks in its operations, have become increasingly important in deciding how well the company has performed.
