In 21st century, consciousness on sustainable business has been raise broadly. Empirical evidence by measurements has been developed to weigh development against nature, present against future, and certainty against the unknown (Anderson, 2013).
Hospitality business as major component of Travel & Tourism has become an important industry in 21st century further to the fast growth of Travel & Tourism in global economy (10% of global GDP) in 2014 (World Travel & Tourism Council, 2015) and likely continue growth in 3.7% per annum of the next 10 years.
As hospitality industry is massive ongoing use of products and resources, a necessary environmental action to protect the environment and save resources for future generations is necessary.
Over
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Follow by the Genting’s business activities and impact on environmental, society and economy responsibility, and elaborates alternative approaches to problem solving and the attainment of efficiency.
LITERATURE REVIEW
Swart & Raes, 2007 has depicted that the term sustainability, sustainable development, and sustainable growth have entered into the vocabulary of academics, business people, and policymakers alike as these communities have come to believe that economic growth must considered its ecological and societal impact if it is to be sustained longevity.
In 20 years ago, World Commission on Economic Development (WCED) has brought sustainability as one of the key issues into the mainstream of corporate business practice and scholar research’s agenda (Crittenden, et al., 2011; Holleran, 2008). The demonstration of business accountability to society has employed several terms and management approaches (for example, sustainability, sustainable development, triple bottom line, corporate social responsibility (CSR), environmental responsibility, social responsibility, corporate citizenship and green marketing) (Crittenden, et al.,
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Empirical evidences of literature and practices regarding CSR richly synchronized; explaining tremendous growth of understanding toward CSR (Sethi, 1975; Carroll, 1999; Ferrell et. al, 2011; Lozano, 2008; Visser, 2005) within the sphere of western. Nevertheless, in eastern countries, the theory development and illumination of CSR practices have yet to capture, explore and examine especially in hospitality industry. An eclipse in understanding CSR growth may be generated by such a lapse between practices and theories (Omar, et al.
This day and age, change has become the new norm that shapes and develops the business world and global economy. A rising topic that has shepherd the direction of innovation is climate change and environmental awareness. The sustainability of a company encompasses their ability to manage social and environmental risks, obligations and opportunities. This concept is important for managers and to understand and implement because of government regulations and potential cost efficiency. In Oregon, there are numerous companies that express the importance of being sustainable.
(Kindlon & Thompson, 1999, p. 255). For me personally, and in Kindlon & Thompson
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.
Tourism is also having a major impact on the environment. Waste and sewage from resorts, hotels, and restaurants, especially in heavily visited coastal areas, could find their
PLoS ONE, 8(2): e55162. https://doi.org/10.1371/journal.pone.0055162 Romano et al. (2012).
( Bigelow,1994;Onosko and Jorgensen ,1998;Lewis and Batts
In the recent years more and more companies in the retail and food industry are concerned about the environmental consequences of their action and also the social ethics for the people involved in the production process. This is a shift from the philanthropic actions companies used to take in 1970’s and by following basic international standards to a ‘business case’ perspective of CSR (Customer Social Responsibility). According to the World Business Council for Sustainability Develpoment ( WBCSD) CSR is: ‘’ the commitment of business to contribute to sustainable economic development, working with employees, theirfamilies, the local community and society at large to improve their quality of life’’ (World Bank, 2002)
Every industry to include the hospitality industry is impacted by external factors which directly influence organizational behavior and decision making. There are numerous factors to be considered, but political, economic, and social are three of the most influential. These outside factors sway managerial operational decisions daily regarding personnel, spending, policy, and short-term and long-term strategic planning concerning both core and exterior operations. As within every industry, the hospitality industry has unmanageable elements that affect management or ownership of hospitality establishments (Lewis 2017). Understanding these factors is important because it provides an opportunity for contingency planning (Lewis, 2017).
Nowadays hospitality and tourism industry is one of the main industry in this world. A lot of people need a place to escape from their routines or even just to stay overnight as they having a business trip to other places. We call these people as customer or guest. Human mobility from one place to another , both in the country and from and abroad is very high. Human mobility is not only related to business activities but also recretional activities.