– According to CNBC, as companies exit Russia with unprecedented speed, one of the questions being weighed is where this response to an act of unprovoked war fits on the spectrum of leadership decision-making. Is it a short-term pause, a sign of the greater influence of ESG considerations in the C-suite or a significant reshaping of corporate strategy and the economy around the theme of deglobalization?
For some experts in international business and management, current events appear as if they may go well beyond reputation management and to a fundamental shift from the post-World War II period of increasingly global markets and efforts to achieve global scale. Gary Hufbauer, a fellow at the Peterson Institute for International Economics, thinks the emphasis on CSR has played a role in the swift response.
‘My thinking is that we’ve had this period of emphasis on [CSR] and many CEOs and directors nominally saying they are all for it,’ he says. ‘With the ‘woke language’ of the moment they would be hard pressed by the background, their statements and the atmosphere not to be out in front of it.’
– US President Joe Biden signed an executive order calling on the…
