“Sustainability requires that we pay attention to the entire life cycles of our products and to the specific and changing needs of our customers” (Elkington, 2004). Only if business plays a principal part – then the sustainability may be achieved. While companies are being forced to show their commitment to sustainability corporate social responsibility (CSR) by regulations, market or shareholders, and modify accordingly their reporting actions and strategies in order to implement them properly, the focus must be in small details. It’s essential for each individual within the company to perform their part. But this will only occur there is a requirement for employees, especially in project teams to “accept that the responsibility for tackling these problems is theirs” (Harris,
Sustainable business is environmentally and socially aware business strategies and operating practices that both helps the various firms to contribute to a cleaner and healthier world at the same time pave way to make profitability. Firms that succeed with sustainable business
A quick analysis of each line will highlights the aspects. Social Sustainability: having fair and beneficial labour practices and further to this can the company be measured in the impact of the business activities on the local economy and lastly corporate community involvement. Environmental Sustainability: This measures the company’s impact on the
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).
1.Introduction Corporate social responsibility (CSR) is focus of the current business world, consumers pay more attention to the return of the company rather than the quality and price of the product. Recently, the increasingly international corporate scandals have exposed some serious issues on the roles and responsibilities of companies (Brammer, Williams and Zinkin, 2004). According to a report from PricewaterhouseCoopers (Cheney, 2004), companies that ignore environmental problem and social responsibility are all suffer disaster. In order for companies to be competitive in the variable business environment, they must making profits while making the world a better place. Therefore, the performance of companies should not only measured by
The actual genuine value of conducting business that inspires creativity, further cooperation and facilitates efficiency. Balancing people needs and long-term economic development as well as sustainable marketing these aspects lead to strength and faith in companies while they make use of less resources and funds. On an operational basis, sustainable marketing aims at making use of social evolution and customer behavior. This results to the achievements of long-established profit options. Finally, it is meant to provide services and goods through the management that is done in a responsible way.
The activists in this development denounce generally, multinational companies of having wild political power, budgetary markets. The financial limit gives the partnerships and the mechanical pioneers the ability to expand the pattern for their own particular advantage. Along these lines, their financial advantages will be of prime significance during the time spent globalization. Hostile to globalization activists propose more alluring headings instead of following the bearing of monetary globalization. Globalization has to a great extent affected the ecological factors as it has expanded the level of a worldwide temperature alteration, exhaustion in the ozone layer, the ascent in the ocean level and lessening in the water supply as it is subject to expanding measure of transportation, generation.
I agree with the assertion that in the context of Sustainable Development ‘the reality of life today is that the economy dominates environment and society. The Concept of Sustainable Development Sustainable development refers to “meeting the needs of the present without compromising the ability of future generations to meet their needs”, and was produced by the Brundtland report (WCED, 1987). The concept also takes into account the needs of the poor in developing countries by outlining achievable objectives of importance (WCED, 1987). The Three Pillars of Sustainability The society, environment and economy are interconnected entities which form the three pillars of sustainability (Giddings, Hopwood and O’Brien, 2002). Each of these pillars depends on each other in some way in order to operate.
Moreover, despite general economic growth, there were periods of crises and the progress was also accompanied with harsh living and working conditions and unemployment. This resulted in the founding of corporations, which could control both the production and the market, as businessmen feared overproduction would lead to deflation (declining prices and falling profits). Over time, larger corporations developed through mergers. The leading corporations were Rockefeller’s The Standard Oil Company in oil and Carnegie’s in steel, whose economic and political power influenced the whole economy. The corporations was influenced by “Social Darwinism”, a system where the growth of large businesses merely signified a survival of the fittest.
JEBET KIPLAGAT ID NO. 268341 SUSTAINABITY AND NATURAL RESOURCES MARIA ÅKERMAN QUESTION: WHAT ARE THE MAIN THEORIES AND DEBATES ABOUT “SUSTAINABILITY” WHAT WOULD A SUSTAINABLE SOCIETY LOOK LIKE? Introduction Sustainability was first introduced in the UN document “Our Common Future”, it has since gathered a huge debate on its true definition which seems to escape many, but however it has a broad known meaning. Sustainability is the promotion of human wellbeing while simultaneously conserving the environment. I have come to understand sustainability as using today’s resources in a manner that will ensure that our future generations also get to use the same resources, we have to be very keen in the usage of the resources so as to ensure they are not depleted.