Sustainability And Corporate Social Responsibility Essay

Sustainability And Corporate Social Responsibility Essay

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Introduction

A globally sustainable organization has the ability to meet the needs of present without compromising the ability of future generations to meet their needs. Organizations are getting more and more concerned with sustainability and corporate social responsibility. A sustainable organization always give importance to the economic, social and environmental benefits when doing business. Instead of only looking for economic bottom line such as profits and shareholder returns, global firms need to pursue a balanced set of “triple bottom line”, which consists of economic, social, and environmental performance, and satisfy the demands of all stakeholder groups. A stakeholder is someone who is dependent on or affected by organizational achievements. Primary stakeholders are dependent on for the survival of firm, and secondary stakeholders are those who can influence, but not directly engaged with firm’s survival and business operations (Peng, 2012). Triple bottom line measures an organization`s performance level w.r.to their efforts to implement the sustainable strategy. The “triple bottom line” ensures long-term sustainability of a global organization while making sure the company`s processes are sustainable for the society. Formal (rules and regulations) and informal institutions demand for better environmental and corporate social responsbility from firms. As a result, sustainability has become a key focus for multi national enterprises as it enabled companies to achieve better organizational performance. One of the Human Resources Management(HRM) function consists of assisting in creating and implementing sustainability strategy in various ways. Human Resources(HR) ensures that the employees of a global firm implement th...


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...creases the knowledge about green practises and various sustainable recycling methods. Holding regular seminars, online or classroom training programs and workshops inproves employee contribution towards corporate social responsibility. The programs can be for all employees. HR can organize talks by celebrities or non-government persons to share the knolwedge on CSR. (Jamali, Dirani, and Harwood , 2015). Sustainbility studies by the Green Reaserch concluded that 80% of bigger companies planning to invest heavily in empoyee engagement in recent years. 86% of employees involved in the employee engagement say they were happy at work. The research also highlights that the more the employee engagement is, the more their triple bottom line increased. They noted that the firm`s operating income increased by 19.2% and their profits increased three times faster. The corporate

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