Globalization is not only here to stay, but is maturing to a next phase - earlier phases being typified by outsourcing and supply chain shifts from "Western" economies to emerging markets. But this next phase will show a marked increase in global integration with China and India in particular being new drivers of demand - not only supply.
The McKinsey study concluded that expectation around adherence to sustainability by companies will become even higher as a result of our entering this next phase. Why? Greater service integration across national boundaries would make intangibles more valuable, and Chinese and Indian companies will need to find ways to demonstrate their "local" loyalties in parallel with their efforts to build globally integrated value systems.
CEO's seemed to agree. When asked which trends would be most important in influencing society's expectations on business "increasing environmental concern" scored highest - a whopping 61%. This was followed by a cluster of three responses scoring in the 30's - Greater demand for and limited supply of natural resources (38%), Emergence of China and India in the global marketplace (37%), and increasing technological connectivity (33%).
There were 7 other responses to this question, all scoring between 6-18%, and included decreasing trust in business, pressure from NGOs, globalization backlash, and overburdened public sectors.
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