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Social Sustainability for Business demonstrates the need for a transformational change to the way businesses across the globe operate. What has become the standard, accepted "business model," with a focus on corporate profit, shareholder wealth maximization, and GDP growth, is no longer a sustainable business model for workers, consumers, communities, society, the planet, or any of its inhabitants and ecosystems. The authors argue that the current commercial system depletes natural resources, denigrates human rights, and inhibits positive social and technological innovation. To address these issues, they focus on societal goals—such as a sustainable planet, meeting human rights of workers, and safe products for consumers—and outline steps that organizations and individuals must take to achieve them. Readers will gain insight into the psychological barriers to and influences on sustainable behavior. They will also learn how reconsidering corporate social responsibility and business ethics can stop and reverse the destruction of a profit-based approach. Cases on modern examples of sustainability or lack thereof explain how establishing and maintaining a socially sustainable business system can protect the environment, meet the rights of its people, and ensure that their needs are met tomorrow. End-of-chapter and end-of-case discussion questions will help students in sustainability classes to think critically about the practical impact of the topics discussed.
In a dramatic departure from its voluntary origins, corporate social responsibility (CSR) is rapidly shifting to hold multinational companies accountable for more than traditional shareholder performance. This CSR movement is embracing new environmental, social and governance (ESG) frameworks that both promote global sustainability goals and enhance accountability for negative impacts businesses can have on ‘planet and people’. This collection of essays by leading businesspeople, international civil servants, legal practitioners, academics, and other experts offers a forward-looking and pragmatic perspective that illuminates the major themes in this movement towards increasingly sustainable, transparent and accountable business practices. The collection shows how CSR has evolved to account for societal pressures, environmental, climate change and human rights impacts, international policy imperatives and the practical challenges of regulating commercial activity that transcends borders. The chapters offer an in-depth examination of current issues including: international frameworks and multistakeholder initiatives catalysing foundational change; the shifting emphasis on corporate imperatives to avoid harm to third parties; trends in CSR, focused on assuring the planet's future sustainability and social stability; regulatory initiatives around the globe, including Europe, North America, Asia and Africa; and extended accountability for activities of corporate group members and supply chains. The pressure and business case for companies to incorporate CSR into corporate governance is intensifying with each quarter, shareholder meeting, and regulatory agenda. The integration of CSR and new ESG frameworks into multinational corporate strategy and operations is key to sustainable business models that can generate long-term value for the organization and all stakeholders. Their acceptance as cornerstones of 21st century business practice appears inevitable. Taking full account of the imperative for companies and their lawyers to grapple with the practical and legal challenges in this area, this volume is an invaluable and pragmatic addition to the practitioners’ toolbox at this important juncture in an ever-more dynamic field.
This open access book discusses the challenges and opportunities faced by companies in an age that increasingly values sustainability and demands corporate responsibility. Beginning with the historical development of corporate responsibility, this book moves from academic theory to practical application. It points to ways in which companies can successfully manage their transition to a more responsible, sustainable way of doing business, common mistakes to avoid and how the UN Sustainable Development Goals are integral to any sustainability transformation. Practical cases illustrate key points. Drawing on thirty years of sustainability research and extensive corporate experience, the author provides tools such as a Step-by-Step strategic guide on integrating sustainability in collaboration with stakeholders including employees, customers, suppliers and investors. The book is particularly relevant for SMEs and companies operating in emerging markets. From a broader perspective, the value of externalities, full cost pricing, alternative economic theories and circular economy are also addressed.
Business Sustainability Factors of Performance, Risk, and Disclosure examines sustainability factors of performance, risk and disclosure. The five dimensions of sustainability performance are economic, governance, social, ethical, and environmental (EGSEE). Business sustainability is advancing from the greenwashing and branding to, very recently, business imperative as shareholders demand, regulators require, and companies report their sustainability performance. Sustainability has become economic and strategic imperative with potential to create opportunities and risks for businesses. Business Sustainability Factors of Performance, Risk, and Disclosure examines sustainability factors of performance, risk and disclosure. The five dimensions of sustainability performance are economic, governance, social, ethical, and environmental (EGSEE). Sustainability risks are reputational, strategic, operational, compliance, and financial (RSOCF). Sustainability disclosures are relevant to financial economic sustainability performance (ESP) and non-financial environmental, social, and governance (ESG) sustainability performance with ethics are integrated into all other components of sustainability performance. This book offers guidance for proper measurement, recognition, and reporting of all five EGSEE dimensions of sustainability performance. It also highlights how people, business, and resources collaborate in a business sustainability and accountability model in creating shared value for all stakeholders. The three sustainability factors of performance, risk and disclosure are driven from the stakeholder primacy concept with the mission of profit-with-purpose. Anyone who is involved with business sustainability and corporate governance, the financial reporting process, investment decisions, legal and financial advising, and audit functions will benefit from this book.
This ground-breaking Handbook uniquely focuses on the business of sustainability, offering a fresh insight and practical solutions to the challenges that businesses face in making human activity sustainable. It is organized into four distinctive themes that cut across levels of analysis and illustrate a rich set of solution contexts that will guide future research.
This is the first in a two volume study of Corporate Social Responsibility and corporate behaviour from around the world, taking in viewpoints from five continents and over ten countries. These case studies present a detailed analysis of best practice in the corporate world in the areas of social ethics and community engagement.
Since the first edition of this book was published, the subject of sustainability has risen to the forefront of thinking in almost every subject within business and management. Tackling the latest developments and integrating practical perspectives with rigorous research, this new edition sheds light on a vital aspect of working life. Current trends reveal that increasing intensity at work has major consequences at individual, organizational and societal levels. Sustainability in work systems thus requires a multi-stakeholder approach, emphasising a value-based choice to promote the concurrent development of various resources in the work system. This sustainability grows from intertwined individual and collective learning processes taking place within and between organizations in collaboration. In exploring the development of sustainable work systems, this book analyzes these problems, and provides the basis for designing and implementing 'sustainable work systems' based on the idea of regeneration and the development of human and social resources. The authors, who are leading researchers and practitioners from around the world, consider the existing possibilities and emerging solutions and explore alternatives to intensive work systems.
Sustainable Business: Key Issues is the first comprehensive introductory-level textbook to address the interface between environmental challenges and business solutions to provide an overview of the basic concepts of sustainability, sustainable business, and business ethics. The book introduces students to the background and key issues of sustainability and suggests ways in which these concepts can be applied in business practice. Though the book takes a business perspective, it is interdisciplinary in its nature and draws on knowledge from socio-economic, political, and environmental studies, thereby providing a practical and critical understanding of sustainability in the changing paradigm of global business. It goes beyond the conventional theories of sustainability and addresses critical issues concerned with population, consumption and economic growth. It discusses realistic ways forward, in particular the Circular Economy and Cradle to Cradle frameworks. The book is both a theoretical and practical study guide for undergraduate and postgraduate international students of broad areas of sustainability, teaching ways to recognize opportunities for innovation and entrepreneurship at the intersection of environmental, economic, ethical, and social systems. It takes a strategic approach in applying the power of business methods and policy to address issues of global importance such as climate change, poverty, ecosystem degradation and human rights. This textbook is essential reading for students of business, management and sustainability courses. It is written in an engaging and accessible style, with each chapter including case studies, discussion questions, end of chapter summaries and suggestions for further reading.
Women and Sustainability in Business: A Global Perspective, brings together original research from a dozen countries, concerning the issues and challenges facing women in sustainable business. This is a recurrent topic among researchers, regulators, companies and rating agencies. Governments pay special attention to how women impact the economy when shaping their strategies on economic sustainability. Women’s contribution to business is fundamental to creating a sustainable economy, such that businesses try to strengthen ‘women’s presence’ within their organisations, especially on their boards. Today, sustainable companies cannot survive without strategies involving women. Stakeholders, regulators, NGOs and rating agencies track both women-focused strategies and the corporate sustainability reports of companies. Well-designed strategies for women workers help companies to develop their financial and social sustainability initiatives progressively. This book analyses the practice of women in sustainable business, in terms of company performance, social responsibility, board management, entrepreneurship, employment, education, management, social sustainability, environmental politics and technology, from a wide range of diverse, regional perspectives and highlights the differences between the underdeveloped, developing and developed world.
When you see or read about excessive corporate profiteering, business malpractices, poor social welfare, and environmental and ecological disasters, do you have an urge to do something? With so many analysis reports, academic journals, news coverage, and documentaries on the subject, why is there so little action? Most management gurus and executives recognize that it is possible to achieve a triple bottom line - running a business for the benefit of the people, the planet, and profit at the same time. To achieve this, businesses have to solve their internal issues involving the leadership team, the management team, and the technical team. Drawing from leadership and management practices, practical case studies, and using energy, water, raw material, waste and its associated environmental impact as examples, People, Planet, Profit describes the ten internal issues - five technical, two leadership, and three managerial - and solutions to these issues. A coherent, joined-up, and concerted effort allows responsible businesses to initiate, gain momentum, and achieve success in reducing their environmental impact. The same tools can then be applied to other areas of a triple bottom line.