ipl-logo

Corporate Sustainability Essay

912 Words4 Pages

2.3 WHAT IS CORPORATE SUSTAINABILITY?

Corporate sustainability is a complex concept because it has a different meaning to different individuals and organisations. As the concept of corporate sustainability has evolved over time and has taken several forms. This has made the challenge to find a universal definition of corporate sustainability even bigger.

2.3.1 DEFINITION OF CORPORATE SUSTAINABILITY

According to Grobben (2016:2) the term corporate sustainability finds its origins in a mixture of four distinct theories that together form the pillars under corporate sustainability. The different concepts are not seen as separate concepts, but each contribute one overall concept, which is corporate sustainability. The four pillars are …show more content…

For the purpose of this study, CS will be defined as………….

2.3.2 DIMENSIONS OF CS

The different dimensions of corporate sustainability can stimulate the understanding of CS in a more detailed level as the dimensions of CS are highly significant in defining corporate sustainability. The three most commonly mentioned ones are the social, environmental and economic dimension which are all together also described as the Triple Bottom Line or the famous ‘three P’s’ namely people, planet and profit (Fauzi, Svensson & Rahman 2010:1350).

Table 2.1: THE THREE DIMENSIONS OF CORPORATE SUSTAINABILITY
Dimension Description Example
Economic Moving beyond conventional financial accounting, according to new measures of wealth such as the intellectual capital that organisations develop. -Contribute to economic development
-Increase productivity through a motivated workforce
-Preserving the …show more content…

Thus, a sound strategy is required in order to translate CS to the definite business context. (Eccles, Ioannou & Serafeim 2011:62). CSS is somewhat seen as a process and not a specific goal that can be attained. CSS is furthermore understood as the method or plan that supports the process of development towards a desired future with the combination of lessons-learned on the way and essential adjustments due to fluctuating circumstances (Bagheri & Hjorth, 2007).

Numerous frameworks have been established to measure, compute and cultivate sustainable strategies. One of such frameworks is, a framework by Baumgartner and Ebner (2010:879-81) where they suggest typology consisting of introverted strategy (risk mitigation), conservative strategy (efficiency), extroverted strategy (legitimization), and visionary strategy (holistic). With multiple strategies being implemented, CSS is supported by the use of instruments such as indicators, management systems, reporting schemes, stakeholder dialogue, balanced scorecard and business models (Witjes, Vermeulen & Cramer

Show More
Related

  • Swot Analysis Of Stryker Corporation

    965 Words  | 4 Pages

    Introduction Homer Stryker, an orthopedic surgeon, founded Stryker Corporation after World War II. Stryker Corporation was established to create new medical tools and improved medical procedures for patients to help them heal faster and more efficiently. In order to sustain their twenty percent rate of return, and to generate continuous growth and innovation, Stryker relies heavily on acquisitions. One of Stryker’s more notable and largest acquisitions was Howmedica worth $1.65 billion. Large acquisitions can be risky, so we will access Stryker Corporations industry factors and explain why their detailed capital expenditure process works.

    Read More

  • The Pros And Cons Of Intellectual Capital

    758 Words  | 4 Pages

    1.7.1 intellectual capital Since 1990, intellectual capital has been an interesting topic for researches and practitioners in European countries and Asia as well. Literature provides a number of definitions for intellectual capital; for example, IC is “a stock of focused, organized information that the organization can use for some productive purpose” (Edvinsson & Sullivan 1996, p. 357). Intellectual capital “focuses on organizing the knowledge resources in order to make knowledge manageable and is about actions and activities linked with knowledge, which are not easy to represent” (Mouritsen et al. 2001a: EmidiaVagnoni Chiara Oppi , 2015, p. 335).According

    Read More

  • Walt Disney Company Triple Bottom Line

    1630 Words  | 7 Pages

    In this highly competitive world, money is one of the most significant factors for people to survive because people use money to satisfy their desires such as clothes, food, and medicines. A company will gain profit from the amount of money that people used, but only profit cannot make company to be sustainable. Hence, every corporation should be concerned about the triple bottom lines which can lead company to be sustainable. The Triple Bottom line or TBL was created by the founder of British consultancy called sustainability, John Elkington since 1994 (economist, 2009). The triple bottom line is separately in three categories, including profit, planet, and people.

    Read More

  • Case Study Frog's Leap Winery

    1313 Words  | 6 Pages

    Sustainability can be defined as business practices that both meet the needs of the present and don’t compromise meeting the needs of the future. Environmental sustainability involves deliberate actions that protect the environment, provide longevity of natural resources, maintain ecological support for the future, as well as guard against the endangerment of the planet. Sustainability and the Triple Bottom Line Frog’s Leap Winery has made every effort in its daily activities and operations to tackle sustainability and the triple bottom line of measuring their

    Read More

  • Volkswagen's Corporate Social Responsibility

    1858 Words  | 8 Pages

    It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which states that a firm can never exist In a vacuum (Khalidah et. al.).

    Read More

  • Wal-Mart: Social Sustainability And Social Responsibility

    1475 Words  | 6 Pages

    The sustainability report includes labor practices, energy efficiency, product sourcing, business ethics practices, and impact on natural environment. To provide annually sustainability report to the shareholders is good for the businesses. The well-known store in United States the WAL-MART annually provides a sustainability report to his shareholders. Wal-Mart and his suppliers both are work to gather to provide these reports. Wal-Mart not only monitors the price of products by the vendors but also monitor the vendor’s social responsibility and environmental practices.

    Read More

  • Swot Analysis Of Skillshare

    1415 Words  | 6 Pages

    6.0 Marketing Strategies There are different marketing strategies which can be applied for each component depending on organizational objectives or goals. Skillshare need to accomplish the precise equilibrium of the marketing mix to achieve its goals. Figure 1: The 4 Ps of Marketing Mix Marketing mix is an arrangement of four choices which should be taken before propelling any new product or service on the market. These variables are otherwise called the 4 P's of marketing. These four variables help the firm in settling on vital choices essential for the smooth running of any product / organization.

    Read More

  • L Oreal Triple Bottom Line

    746 Words  | 3 Pages

    Introduction Sustainability has been mentioned as a goal of businesses. During the mid 1990s John Elkington created the triple bottom line plan under the concept of sustainability. Sustainability can be defined in many ways, but the simplest way is “Ability to sustain” (Sustainability, 2010). The triple bottom line is an accounting framework, and there are three dimensions of sustainability among them people, planet and profit (3Ps). The concept of TBL is to measure the profitable, social and environmental performance of the company.

    Read More

  • Volkswagen Code Of Ethics Analysis

    1155 Words  | 5 Pages

    Davis (as cited by Khalidah, Zulkufly, & Lau, 2014) defined Corporate Social Responsibility (CSR) as “… the firm’s consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm. It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which stats that a firm can never exist In a vacuum (Khalidah et.

    Read More

  • Kurt Lewin's Experiential Learning Theory

    1252 Words  | 6 Pages

    Learning from experience According to some researcher’s experiential learning theory (ELT) has been widely used in management learning research and practice for over thirty-five years. Building on the foundational works of Kurt Lewin, John Dewey and others, experiential learning theory offers a dynamic theory based on a learning series driven by the resolution of the dual tensions of action/reflection and experience/abstraction. These two dimensions state a holistic learning space wherein learning transactions take place between individuals and the environment.

    Read More

  • The Importance Of Organizational Strategy

    995 Words  | 4 Pages

    “An organizational strategy is the sum of the actions a company intends to take to achieve long-term goals (Johnson, 2016)”. Organizational strategy is derived from a company 's mission, which tells why an organisation is in business. There are three important aspects of organizational strategy such as resources, scope and the company’s core competency (Johnson, 2016). As Johnson (2016) postulated that top management produces the larger organizational strategy, while middle and lower management adopt goals and plans to satisfy the overall strategy. Germano (2010) states that leadership has a significant impact upon organisation and its success, whereby leaders determine values, culture and employee motivation.

    Read More

  • Strengths And Weaknesses Of Sustainable Development

    1317 Words  | 6 Pages

    Furthermore, the three pillars of sustainable development, economics, social and

    Read More

  • Kfc Differentiation Strategy

    900 Words  | 4 Pages

    He emphasized that businesses should strive to achieve one of the generic strategies in order to achieve a competitive advantage but Henry Mintzberg disagreed with this idea and in 1994, came up with the concept of Emergent Strategy. He argued that the organisations with constantly changing business environments need to be flexible in order to benefit from various opportunities. In his article “The fall and rise of strategic planning” Mintzberg argues that strategic planning often spoils strategic thinking, causing managers to confuse real vision with the manipulation of numbers (Mintzberg, 1994). He adds “Strategic planning, as it has been practiced, has really been strategic programming, the articulation and elaboration of strategies, or visions, that already exists”.

    Read More

  • Competitive Intelligence Process

    2167 Words  | 9 Pages

    The term of strategy is defined as “the basic long term goals and objectives of an enterprise and the adoption of courses of actions and the allocation of resources necessary for executing these goals” (Chandler,

    Read More

  • The Three Pillars Of Sustainable Development

    773 Words  | 4 Pages

    Kahn’s (1995) approach to the sustainable development theory is consistent with the modern day development techniques of Europe 2020 priorities; smart growth, sustainable growth and inclusive growth. The adoption of some innovative strategies such as the utilisation of renewable energy as an integral part of the energy mix could result in growth of the economy, which will eventually trickle down to the poor or extend to the rural or disadvantaged areas of the country. The social sustainability generally explains the idea of equity among the people, empowerment, participation, accessibility and institutional stability. It seeks to ensure a good standard of living in the country by alleviating poverty. Environmental sustainability seeks to explain the ways in which exploitation and utilisation of the natural resources will not be made to negatively affect the environment or the health of human beings (Kahn 1995).

    Read More

More about Corporate Sustainability Essay

Open Document