Until not too long ago, the widely accepted conventional wisdom regarding corporations and their activities was that “the business of business is business”. In other words, stick to what you know, focus on delivering innovative products at competitive prices and let others worry about externalities. Well, it is no longer so. Laurence Fink, CEO of Blackrock a giant money management firm, tells companies that beyond taking care of their core business they also have important social responsibilities. If they do not understand them they may not be successful in the future. Here are some excerpts from his Annual Letter to CEOs.