Short half-course on
BUSINESS ETHICS and CSR
delivered by Dr. Patrick O’SULLIVAN
Ina Yankovich
IBP 2013 (356547)
Sustainable development is widely acclaimed today as a desirable or even indispensable goal for both governments and businesses. Explain the central meaning of sustainability and why it is today regarded as a moral imperative for businesses in particular.
I would like to start with explanation of the term sustainable development. Sustainable development - is a development that meets the needs of the present generation without preventing future generations from meeting their needs. This formulation was prepared in the report "Our Common Future ", prepared by the International Commission on Environment and Development, by the United Nations in 1987. It has became the core of a new paradigm of human development. We can say that concept of sustainable development has gained the status of an essential principle of the existence of Earth's civilization.
The deep aim of sustainable development is to save humanity and the biosphere of the Earth. It is assumed that in this way we will be able to avoid a global ecological catastrophe and in the future it will be possible to realize the two main objectives:
First, the survival of humanity as a whole and its further development. That also mean that we should provide equal opportunities in the use of resources and environmental conditions of Earth and Space for our descendants as we (current generation) have now. This can be called the principle of equality opportunities for present and future generations.
Second, stop degradation of the biosphere of the planet as a result of human development. The main thing is not just reach technological development or solve economic...
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...ibility of resources and it prices, consumer demand, the pressure of investors, attracting and retaining of talented people, appearance of new markets and the disappearance of old ones, changes in financial transactions. As I understand, if the company has the problem of sustainability as one of the approachs in doing business, in strategic and long terms this leads to lower costs, the formation of a new consumer base and the recruitment and development of talented people in the organization. It is so important for the Company to be involved in sustainable development nowadays. It helps the Company to receive long-term goal, which would be combined with its core activities and strengths. It also will motivate employees and contractors to work better and give optimism, as always it is easier for good people to create something usefull and formative, than to do harm.
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
9. Smith’s report defines sustainable development as, “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs". Smith’s definition is important to consider, because it illustrates that that we do not have to destroy the natural environment to have economic progress.
It has become a matter of urgency to balance the issues of development and environment so that the current generation hands over the earth to their future generation without any further damage to the environment. The development process of any kind should always be sustainable.
Sustainability could be defined in many ways. It could be defined as the process to sustain a process or develop new technologies to reduce environment pollution. It also means a measurement how badly the environment is being polluted by other factors. I have to admit that sustainability is a great idea related to many fields such as healthy, economy, food, social, and etc. However, I still remember the first day of “Sustainable Business” class, Professor Laverty showed to my class an example of sustainable product with the idea of “produce more with less waste”. This example narrows me down to one idea of “Sustainable Business”, which is producing the product and services in an efficient and sustainable way without causing harms to environment. In this essay, I want to emphasize into impacts of businesses on environments, profitability of sustainable business, and responsibility of business.
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
While sustainability is about the future of our society, for today's industries and businesses, it is also about commercial success. The mandate to transform businesses to respect environmental limits while fulfilling social wants and needs has become an unparalleled platform for innovation on strategy, design, manufacturing and brand, offering massive opportunities to compete and to adapt to a rapidly evolving world. Based on the analysis most commonly words used around sustainability are like resources, future generations, community, development etc.
Sustainability grows into a collective tenure in commercial morals, environs and is extensively used by the administrations, businesses, advisers etc. In recent times the conception of sustainability is widened,nowadays it not only comprisesecologicaldeliberation but also monetary and communityconcern. (Elkington, 1998).
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
Sustainability and sustainable development is about ensuring a better quality of life for people today and the generations to come, this requires the meeting of four key objectives (Bani. 2007).
Hence, corporation must bear in mind for long-term sustainability, it need to focus on its relationship with
The concept of sustainability comprises of being operated in a way by captivating full account of an entity’s influence on the globe and its people with future. Business is always needed to be modified on the basis of information available. Information pertains to accountancy can provide feedback over its performance which eventually guide management in decision making process for its future. The concept of sustainable development assist in determining and informing regarding decision makings about business strategies.
Harris. J.M. 2000 Basic Principles of Sustainable Development, Global and Environment Institute Working Paper 00-04, USA
Sustainable Management are referred to the protection of the environment under the conditions of both meet the needs of modern people, but also without the prejudice to the needs of future generations for the forward-looking development model. Sustainable Management has three different areas: the needs of the modern and future generations, the environment, and the economy. By using these areas, limiting the resource depletion to reinforce the needs of present and future generation to create the ability of a systems of vigorous development.
In class we discussed what sustainable development meant to us; each group had its own definition. Our group’s definition was that sustainable development is for the long term for future generations, for the basic needs such as food, clothing, shelter, and job. The basic will increase over time and our resources will diminish, which why sustainable development is important. Sustainable development is important for future generations so that they end up with a world better than ours. Sustainable development is achievable if society works together to meet everyone’s basic needs and create a better world.