Unemployment, inequality, poverty, climate change: the world is faced with profound challenges and on an unprecedented scale. So far, we have looked to governments, NGO's and global institutions such as the World Bank for action. But another kind of institution powerful, influential, widespread is well placed to address these challenges. Global corporations. These giants are today entrenched in the very fabric of our lives. We work in them or their supply chains; we use their goods and services; we invest in them.
It is crucial, therefore, that those who lead big corporations see themselves as part of a larger picture and redefine their role. Corporations can and must be a force for good, says Lynda Gratton, professor of management practice at London Business School and among the top business thinkers in the world. This is especially true for emerging markets like India, where the global challenges are more acute and where the minds that press this change will be found. Take, for instance, the fact that as of 2011, 63 of the Fortune 500 companies had research and development facilities in India. An alternative is already unfolding. Gratton points out there is an alliance emerging in India of IT giants Wipro, Infosys and TCS to work towards influencing the government to open more engineering universities, improving student employability and helping teachers understand what corporations require. The Key provides an inventive and accessible roadmap for revolutionizing the way big conglomerates are run and is of particular relevance to India. It speaks not only of how corporations are looking beyond business as usual but also shows how they can unlock the global challenges to make the world a better place.
