In this background, the present paper focuses on the concept of business sustainability and challenges for implementing the business case for. The previous section discussed the relevance of the business sustainability concept. Strategic performance management system and corporate. Ironically, also the contextual appropriate use of the sustainability concept in. Embedded in most definitions of sustainability we also find concerns for social equity and economic development. Sustainable development historical roots of the concept. In connection with the concept, we are interested in specific parameters such as the impact of the company size and capital structure on the corporate sustainability. Sustainability is achieved when all people on earth can live well without compromising the quality of life for future generations. The perspective of concept sustainability sciencedirect.
This chapter provides an overview of the theories and concepts of sustainability and sustainable development and their anticipated links to global environmental, economic, and social crises. The term paradigm is used deliberately, in that corporate sustainability is an alternative to the traditional growth and profitmaximization model. A changing of marketing concept lead to sustainable business nitchakarn noourai faculty of management science prince of songkla. Business sustainability is a business principle that is widely recognized as a critical strategic concern for.
Sustainability originated in natural resource economics, but has since gained broader currency in terms of sustainable development and social equality. While corporate sustainability recognizes that corporate growth and profitability are important, it. Sustainable development is development which meets the needs of the present without compromising the ability of future generations to meet their own needs. Albeit somewhat vague, this concept of sustainable development aims to maintain economic advancement and progress. For companies, bringing a sustainability lens to business strategy can help to reduce risks, lower costs, drive revenues, and build intangible value, especially brand loyaltyall of which contribute to competitive advantage. A conceptual framework of sustainability in project.
The concept of sustainable development and its use for. International journal of business and social science vol. A conceptual framework of sustainability in project management oriented to success. Business strategy for sustainable development iisd. Jorna professor of knowledge management and cognition. While the concept of sustainability is a relatively new idea, the movement as a whole has roots in social justice, conservationism, internationalism and other past movements with rich histories. Master thesis the importance of sustainable business. If in the neoclassical logic the concept of sustainable growth receives a quantitative understanding i. Pdf sustainable business development through leadership.
Corporate social responsibility, or csr, usually refers to a companys commitment to practice. An important issue is prioritization of the corporate sustainability concept and its understanding. By the end of the twentieth centuries, many of these ideas had come together in the call for sustainable development. The core concept of sustainability openforests medium. The issue of sustainability has received various treatments over the past two decades. However, respondents do cite several different levers for value creation over the next five years. For example, newer programs must focus on the need to collect data to demonstrate program effectiveness. Brief for gsdr 2015 the concept of sustainable development. Corporate sustainability can be viewed as a new and evolving corporate management paradigm. Sustainable entrepreneurship business success through. The concept of sustainable development has received growing recognition, but it is a new idea for many. Integrating sustainability into business practices. An introduction to sustainable business 2012 book archive.
Business and sustainability harvard business school. This article outlines the importance of the initial sustainability concept and how it describes our relationship with the world and the nature over. The historical development of the concept saw participation of various organizations and institutions, which nowadays work intensely on the implementation of. Sustainability then becomes a concept that is equivalent to good and thus devoid of any specific meaninga blanket concept to assure stakeholders of the policys good intentions. Concerns about sustainability are important, however, because unsustained programs can result in a loss of investment. There is a statistically significant relationship between taking action related to sustainable business in the company and managers conviction awareness regarding the concept of. While the concept of sustainability is a relatively new idea, the movement as a whole has roots in social justice, conservationism.
The strength and relevance of the original brundtland concept was precisely that it posed the question of how to. Business sustainability is a strategy that prioritizes the long term survival of a business and connected ecological, social and cultural systems. Background concern about sustainability is almost as old and enduring as the dismal science itself, even though the word itself has come into fashion only in the past decade or so. In response to my piece this summer about the hubris among some sustainable design leaders a darker shade of green, a reader tweeted that no one outside of field knows what you mean by sustainable sic.
The concept of corporate sustainability is linked with three dimensions. However, the above expressed arguments are the fruits of at least two decades of discussion, research and debate. Business sustainability, also known as corporate sustainability, is the management and coordination of environmental, social and financial demands and concerns to ensure responsible, ethical and ongoing success. Theory and concept of sustainability and sustainable development. In this background, the present paper focuses on the concept of business sustainability and challenges for implementing the business case for sustainability. An attempt to reconceptualize lecture presented at nias. Becoming familiar with different ways of defining sustainability in business and. Its development was informed by a number of existing frameworks and was inspired, in particular, by the work of r. The concept of sustainability and sustainable innovation. Planning for sustainability needs to begin long before the program faces the end of its initial funding cycle.
This concept relates at the microeconomic level to the sustainable business, which is a company that succeeds in the long term. Sustainable entrepreneurship stands for a business driven concept of sustainability which focusses on increasing both social as well as business value so called shared value. Of course, sustainability transcends the fields of architecture and design, but its true that the word can be confusingin large part because it doesnt mean what many seem. Discussing sustainability in business context and in. As more and more a key point in the business case for environmental sustainability is the potential to. Sustainability focuses on meeting the needs of the present without compromising the ability of future generations to meet their needs. World commission on environment and development, 1987 in the extensive discussion and use of the concept since then see e. Sustainable development historical roots of the concept jacobus a. Theory and concept of sustainability and sustainable. Whereas the concept of sustainability is broadly acknowledged as being multi dimensional, its various.
For most, the concept remains abstract and theoretical. Du pisani school for social and government studies, northwest university, potchefstroom, south africa abstract this article gives an overview of the origin of the concept of sustainable development by going far back in history to trace its roots. The definition and set of five sustainability principles proposed below seeks to advance and restore rigor to the ideas underlying the concept of sustainability. The importance of sustainable business practices in the viennese accommodation industry submitted by marita raderbauer to the university of exeter as a thesis for the degree of master of sciences september 2011 this dissertation is an original piece of work, i acknowledge that i have read and understood the university rules concerning plagiarism. Sustainability describes the ability to maintain various systems and processes environmentally, socially, and economically over time.
To this end, an informed and rational concept of sustainability needs to be internalized in the ethos and ethics of human society and applied critically to concepts of growth, development, and the environment. This concept release is part of an initiative by the division of. It is possible that the terminology problem occurs in the dual nature of the sustainable development concept, covering development as well as sustainability ciegis, 2004. Corporate sustainability is a growing concern among investors who seek not only economic profit but also social good.
Corporate social responsibility and sustainability. The figure shows schematically how the social and economic systems are embedded in the environment. Here are four steps to transform your business purpose into profit. These different discourses have also revealed their appeal over corporations, whose role and. Clarifying the meaning of sustainable business build. Faculty of management and organization university of groningen, groningen, netherlands. Rolf jucker, a vision for a sustainable university sustainability is a systemic concept, relating to the continuity of economic, social, institutional and environmental aspects of human society. The concept of sustainable development has undergone various developmental phases since its introduction. In the concept of environmental sustainability, robert goodland substantiates a history documenting this need, presenting proponents ranging from mill and malthus to meadows and brundtland et al.
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