Corporate Sustainability is a business approach that creates long-term consumer and employee value by not only creating a "green" strategy aimed towards the natural environment, but taking into consideration every dimension of how a business operates in the social, cultural, and economic environment. Also formulating strategies to build a company that fosters longevity through transparency and proper employee development.
Corporate sustainability is an evolution on more traditional phrases describing ethical corporate practice. Phrases such as corporate social responsibility (CSR) or corporate citizenship continue to be used but are increasingly superseded by the broader term, corporate sustainability. Unlike the other phrases that focus on "added-on" policies, corporate sustainability describes business practices built around social and environmental considerations.
The phrase is derived from two keys sources. The Brundtland Commission's Report – Our Common Future which described sustainable development as, "development that meets the needs of the present without compromising the ability of future generations to meet their own needs". This desire to grow without damaging future generations' prospects is becoming more and more central to business philosophies.
Within more academic management circles Elkington (1999) developed the concept of the Triple Bottom Line which proposed that business goals were inseparable from the societies and environments within which they operate. Whilst short-term economic gain could be chased, a failure to account for social and environmental impacts would make those business practices unsustainable.
Read more about Corporate Sustainability: Professionals
Other articles related to "corporate sustainability, sustainability":
... Companies focused on sustainability are appointing a Chief Sustainability Officer leading a department with a mandate to proactively develop and implement a corporate sustainability strategy ... The International Society of Sustainability Professionals (ISSP) is a professional association dedicated to the education and progression of the sustainability ...
... Company representatives have delivered lectures to undergraduate chemistry, metallurgy, mining and geology classes, led graduate business seminars and sponsored student projects and case competitions ... Avalon has also sponsored students to participate in industry conferences and provided research initiatives, cultivating the next generation of engineers and business leaders ...
... Corporate Sustainability refers to "a company’s activities, voluntary by definition, demonstrating the inclusion of social and environmental concerns in business operations and in interactions with stakeholders" ... goals and approaches as they pertain to corporate sustainability, matching the organization’s aims and intentions and aligning with the organization’s strategy, as an appropriate response to the conditions ...
Famous quotes containing the word corporate:
“Power, in Cases world, meant corporate power. The zaibatsus, the multinationals ..., had ... attained a kind of immortality. You couldnt kill a zaibatsu by assassinating a dozen key executives; there were others waiting to step up the ladder; assume the vacated position, access the vast banks of corporate memory.”
—William Gibson (b. 1948)