All around us we see consumers driving business to be more socially responsible and to have a positive impact on both people and planet. In our new world of radical transparency—in which people can find out virtually anything about companies and brands and share it instantaneously with one another—the consequences of not living up to these consumer expectations can be dire. And the rewards for companies that live up to or exceed these expectations can be great.

For businesses, deciding to act is a critical first step. The key challenge then is to identify and define what it should do, how it should act, and where. This is much harder than making the decision to be more socially responsible, for, to be sustainable, every action must center not just on purpose and principles but also on profits.