Importance Of Business Sustainability

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Ethics and values in business sustainability aims to look at what happens to enterprises at a competitive level with the hopes to ensure sustainable development with the hopes of the business being able to sustain itself through good codes of practice such as being ethical. 2. QUESTION 1 2.1 Business Sustainability A sustainable business is one that provides to sustainability by bringing in economic, social and environmental benefits. Which is based on the concept of the three Ps (People, Profit, Planet). (Dyllick & Hockerts, 2002:130) 2.2 Triple Bottom Line 2.2.1. People (Social) According to (Chamberlin 2013) The business in which one operates in should be involved with fair and beneficial labour practices by being involved in the community by implementing programs such as CSR (Corporate Social Responsibility) and CSI (Corporate Social Investment). Businesses profits are calculated through human profits by the use of the social bottom line and the position you are with within the local community. It is important to have good relationships within the community as they are the main people supporting the business and any bad relationship would lessen the amount of supportive customers. As stated by (Timothy F.S and Tanya H) there are measures of sustainability that occur in the social bottom line that can include education, and there is more examples listed below that can affect businesses sustainability: • Poverty • Crime • Unemployment rate 2.2.3 Profit (Economical) The Economic bottom line in the business measures the economic capital in terms of how much your business has an influence on the economic environment a business that helps the economy back by giving back some money is a business that will continue to flo... ... middle of paper ... ...ase for corporate sustainability. Business Strategy and the Environment, 11(2), 130-141. J. Conger, (1992) Learning to Lead. Jossey-Bass: San Francisco. page 33 Khoza, R.J. & Adam, M. (2005). The Power Of Governance: Enhancing the Performance Of State-Owned Enterprises. Pan Macmillan and Business in Africa. Johannesburg. Mark S. P. (2004). Ethical Values for Business Success. Global Ethics University. Viewed 24 April 2014: http://www.globalethicsuniversity.com/articles/valuesforsuccess.htm. World Commission on Environment and Development (WCED). Our Common Future; Oxford University Press: New York, NY, USA, 1987. http://www.un-documents.net/wced-ocf.htm. Timothy F.S., Tanya J. H.,(2011). The Triple Bottom Line: What Is It and How Does It Work?. Indian Business Review, Available at: http://www.ibrc.indiana.edu/ibr/2011/spring/article2.html. [Accessed 20 April]
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