Long term value is a business concept that looks beyond short-term financial goals, to the long-term sustainability of a company. It involves strategic planning, open communication and integrity, based on the belief that implementing sound business practices now can benefit both current and future generations. Long term value accounts for externalities, such as the environment or social welfare, and evaluates opportunities from a variety of perspectives – including the financial, social and environmental return on investments. By embracing an ethos of creating true sustainable value, companies are better positioned to be competitive in the long run.