The article speaks about the sustainability of organizations in relationship with knowledge, Knowledge processing, learning and adaptation. Social sustainability is defined on the basis of two theories: adaptivity based and capital based. First theory is related to adapting to the environment with basic identity and second theory is to interact with the environment without affecting the levels of available vital capital. Human beings play an important role in attaining sustainability and they are regarded as the main actors in the organisation hence forming a multi actor system (MAS). The article is mainly focused on sustainability based on its adaptability and learning.
The first part of the article explains the relationship between knowledge
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It speaks that learning can be seen as a change. There are three kinds of change: First perspective is that the individual may display an acceleration of behaviour and thinking.
Second is the quantitative expansion and third is qualitative expansion. The adaptability based theory of sustainability is related to the maintenance of the systems with their environment, the identity of organisation should be kept intact while adapting to change.
In order to attain sustainability, systems should enhance their people’s ability to adapt and should follow a consistent pattern along with the transparency. Knowledge management can be effectively done with the help of measurement and reporting tools like balance score
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Organizations and industries around the world are beginning to recognize the value of demonstrating transparency and accountability beyond the traditional domain of financial performance.
Sustainability can also be explained as an impact of the vital capital. According to theory of capital based theory of sustainability, capital is anything that yields a flow of beneficial goods or services into future. McElroy formulated an equation for calculating social sustainability in terms of environmental impact and normative impact
The paper is concluded with the concept that organisation sustainability as a capability with two aspects: The first one being the association's capacity to adjust to ecological difficulties, while keeping up its own fundamental identity. The second is the capacity to interface with nature in a manner that it doesn't exploit the normal and anthro-capital past levels needed by people (and their future generations) for their prosperity. Sustainability encompasses both KM and CSR. On the other hand in order to attain sustainability there should be balance between both internal and external environments.
RESEARCH
In relation to sustainability, more and more this aspect is becoming very important for a company’s bottom line and for them to differentiate themselves from their competition that fails to establish a sustainability program. In a macro sense, it ethically responsible to establish a sustainability program to identify ways that the firm can make a difference globally and reduce their overall expense and
Sustainability is a crucial social responsibility as it is linked with the business and how they enact on making effective resources that are eco friendly and ensuring that the future generation will be able to enjoy a healthy lifestyle. The Tata Steel definition of sustainability is ‘an enduring and balanced approach to economic activity, environmental responsibility and societal benefit’. With the notion of sustainability widely promoted by governments, businesses, NGO’s and academia, it is clearly vital that society understand its full implications and evaluate business ethics practices at least according to their potential to contribute to sustainability. The Managing corporate citizenship and sustainability in the age of Globalisation second edition Andrew Crane Dirk Matten, portrays a reliable source on a Sustainability Report which was undertaken in 2005 studied on Nokia which describes the statement they made
This paper critically analyzes Nike company sustainability strategy. Every investor or a group of investors wishes to see the business profitable at the current time as well as having good prospects for future (Werbach, 2009). For this reason, business sustainability strategy is very important. A strategy is a plan that guides the company or a business firm towards a certain direction or set goals. Thus, sustainability strategy is an action plan that a company set in order to maintain the plan toward the achievement of company’s goals in future. Sustainability strategy puts into consideration aspects such as the source of raw materials, competition, human resource development, and sustainability, and the general business environment. Thus, in evaluating a business’ sustainability, it is important to consider the business planning in this direction (Heslin and Ochoa 2008)
In recent years, there has been a push for companies to look further than the traditional bottom line. While profit metrics such as net income seem to have some of the strongest reaction in the market, firms have now begun to see that their value should extend past that. As a KPMG report on corporate sustainability defined, “…corporate sustainability is defined as: ‘adopting business strategies that meet the needs of the enterprise and its stakeholders today while sustaining the resources, both human and natural, that will be needed in the future.” (pg.12) It shouldn’t be taken to mean that corporate sustainability is simply a “green”, or environmentally friendly, strategy. It encompasses more than the natural environment. Rather it creates long-term consumer and employee value by taking into consideration the social, economic, and cultural environment in which the firm operates. As more companies begin to adopt these sustainable business practices, studies are being released showing how positively significant the effects are on the firms earnings due to increased profitability and cost reductions. This paper will attempt to explain the overarching concept of sustainability, the widespread adoption of sustainable business practices, the effects on profitability for these firms, and finally the controllership function in directing this new revolution.
The concept of sustainable development, a relatively new concept has now taken action into the structure of many present day organizations. Identified as “green growth”, the formation of the Dow Jones Sustainability Index provides a platform for managers to understand what it takes to be a sustainable organization. On the subject of sustainable development, the World Commission on Environment and Development (WCED) sponsored by the United Nations published a report defining as,“Development that meets the needs of the current generations without compromising the ability of future generations to meet their needs and aspirations” (WCED, 1987). Sustainable development is composed of the following two notions. First is the idea of sustainability (to maintain), and secondly, development (to make better) (Bell, 2003). Improvement of our own lives today does not mean at the cost of damaging the quality of
“Sustainability means transforming our ways of living to maximize the chances that environmental and social conditions will indefinitely support human security, well-being and health.” ( McMichael et al., 2003).
When it comes to defining the meaning of “sustainability”, there are many different perspectives from different people. One may say “sustainability” relates to “going green”, and another may conclude that it refers to reducing negative effects to the environment. These thoughts are not wrong at all, but I personally think “sustainability” in a broader concept since it can relate to many things such as business sustainability, social sustainability, or even human sustainability. For me, “sustainability” is simply about developing and sustaining something in an efficient and harmless way. For instance, I think of “sustainable business” as the way a specific business maximizes its profits and revenues through an efficient operation without causing any negative externalities. This essay will focus on the major ideas of sustainability and sustainable business, the relationship between profitability goals and sustainable business, and how marketing can be involved in this topic.
Sustainability of a business refers to the capability to stay in business, survive and perhaps thrive within the constraints or limitations imposed on it. A business and its performance is sometimes sustainable because of the favourable economic environment or because of some strategic advantage that other competitors do not have. Instead of having to deal with deeper aspects of management strategies, we will address two more apparent issues.
For the purpose of this essay, one must provide an apt definition to the concept of business sustainability .Business sustainability (corporate sustainability) is achieved when a business is able to manage and coordinate its financial, social and financial aspects whilst ensuring that it is ethical and responsible in its approach to attain continuous success (WhatIs.com).A businesses ethics and values, determine businesses sustainability in its approach to acquire continuous success.
Sustainability is a concept with a diverse array of meanings and definitions – a widely used glamorous, ambiguous, ambivalent and vague concept that is used by different stakeholder groups in various ways. Presumably to avoid noodling over a terminology or to avoid the confrontation with a definition, most widely the concept is broken down a planning process (c.f. e.g. Döring & Muraca, 2010). That is why most common sustainability is understood as sustainable development.1
Organisational change is considered crucial to sustainability but is difficult to manage because of its complexity. There are key aspect in organisational change such as process improvement, new product, technological advancement, organisations’ culture and the changing people. Effective implementation of change involves ...
Sustainability is about the planet- healthy relation among people, profit and planet. Individual effort to earn money by business activity in the earth should be harmless to environment where it operates and beneficial to the people surviving in that society.
Implementing corporate sustainability can be a difficult task for some organizations and leaders. It takes a strong commitment and they must be thorough in their implementation so that all employees and every aspect of the business is taking it into account. Organizations may face difficulties in managing all of the goals that sustainability entails, dealing with trade-off and conflicts that might occur, and getting everyone on board and working towards the goal of sustainability. Corporate sustainability entails a lot; being able to effectively and simultaneously manage the social, environmental, and financial goals of the organization requires a lot of work and commitment on all levels. In examining this, it is clear that this will require
Every organisations nowadays are concerned in managing Corporate Social Responsibility (CSR) and Sustainability as an essential matter of their operations management (OM). The demand to address sustainability in OM is driven by climate change and environmental issues, the workers well-being and communities, and other broad social demands defined as the triple bottom line [TBL] (Walker, Klassen, Sarkis, Seuring, 2014) the pursuit of social, economic and environmental objectives – within operations of a specific firm and operational linkages that extend beyond the firm to include the supply chain and communities. Different aspects of sustainable OM as mentioned in a recent study (Walker et al, 2014, p. 1) includes product design and eco-design, adoption of environmental and social standards, process improvement and lean operations, purchasing, supply chain management (SCM), logistics including recycling and closed-loop systems, performance measurement, and risk management.
Sustainability can be defined in a number of different ways and is characterized by three main principles and several major components. According to the United States Environmental Protection Agency, “sustainability creates and maintains the conditions under which humans and nature can exist in harmony, that permit fulfilling the social, economic, and other requirements of present and future generations” (“Sustainability”). Sustainability is made up of three principles: environmental, economic, and social. The social aspect of sustainability involves ensuring that all people are treated justly and liv...