The Stewardship Principle


Many of today’s corporate executives see themselves as stewards, or trustees, who act in the general public’s interest. Although their companies are privately owned and they try to make profits for the stakeholders, business leaders who follow stewardship principle believe they have an obligation to see that everyone—particularly those in need—benefits from the company’s actions. According to this view, corporate managers have been placed in a position of public trust. They control vast resources whose use can affect people in fundamental ways. Because they exercise this kind of crucial influence, they incur a responsibility to use those resources in ways that are good not just for the stockholders alone but for society in general. In this way, they have become stewards, or trustees, for society. As such they are expected to act with a special degree of social responsibility in making business decisions.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

International Codes of Environmental Conduct


A number of business organizations have developed codes of environmental conduct. Among the most important ones are the following:

  • International Chamber of Commerce (ICC): The ICC developed the Business Center for Sustainable Development, 16 principles that identify key elements of environmental leadership and call on companies to recognize environmental management as among their highest corporate priorities.
  • Global Environmental Management Initiative (GEMI): A group of over 20 companies dedicated to fostering environmental excellence, GEMI developed several environmental self assessment programs, including one that helps firms assess their progress in meeting the goals of the Business Center for Sustainable Development.
  • Keidanren: This major Japanese industry association has published a  Global Environmental Charter that sets out a code of environmental behavior that calls on its members to be “good corporate citizens.”
  • Chemical Manufacturers Association (CMA): The U.S. based industry association developed Responsible Care: A Public Commitment, which commits its member-companies to a code of management practices, focusing on process safety, community awareness, pollution prevention, safe distribution, employee health and safety, and product stewardship. The group is working for the international adoption of these principles.
  • CERES Principles: These are 10 voluntary standards developed by the Coalition of Environmentally Responsible economies that commit signatory firms to protection of the biosphere, sustainable use of natural resources, energy conservation, risk reduction, and other environmental goals.
  • International Organization for Standards (ISO): ISO 14000 is a series of voluntary standards introduced in 1966 by the ISO, an international group based in Geneva, Switzerland, that permit companies to be certified as meeting global environmental performance standards.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Corporate Philanthropy


Corporate philanthropy is the modern expression of the charity principles. The stewardship principle is given meaning today when corporate managers recognize that business and society are intertwined and independent. This mutuality of interests places a responsibility on business to examine care and social concern in formulating policies and conducting business operations.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Corporate Citizenship


Effective leaders are usually good stewrads who make wise and careful use of all resources–personal time and energy, material and physical resources, and other people. They take a holistic view of the community and the business enterprise, recognizing that what happens in one area inevitably affects the other. My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir