Corporate Sustainability

Knowledge Center

   

Description of Corporate Sustainability. Explanation.

Contents

  1. Summary
  2. Forum
  3. Best Practices
  4. Expert Tips
  5. Resources
  6. Print
 

Definition Corporate Sustainability. Description.


Corporate Sustainability refers to the business approach by companies to consider not only economical needs in their strategies and practices, but also environmental and social needs. It is the opportunity for businesses to improve their profitability, competitiveness, and market share without compromising resources for future generations. Compare also Porter's Shared Value concept which goes one step further in this respect.


Public criticism, enabled by powerful mass media, has made some level of care for the environment and refraining from dubious accounting practices and from operating "sweatshops" in developing countries part of the strategy of even the most die-hard financially oriented firms.


Leading sustainability companies show high levels of competence in addressing global and industry challenges in a variety of areas:

  • Strategy. Integrating long-term economic, environmental and social aspects in their business strategies while maintaining global competitiveness and brand reputation.

  • Financial. Meeting shareholders' demands for sound financial returns, long-term economic growth, open communication and transparent financial accounting.

  • Customer & Product. Fostering loyalty by investing in customer relationship management and product and service innovation that focuses on technologies and systems, which use financial, natural and social resources in an efficient, effective and economic manner over the long-term.

  • Governance and Stakeholder. Setting the highest standards of corporate governance and stakeholder engagement, including corporate codes of conduct and public reporting.

  • Human Resources. Managing human resources to maintain workforce capabilities and employee satisfaction through best-in-class organizational learning and knowledge management practices and remuneration and benefit programs.

Donald A. Lubin and Daniel C. Esty recommend in HBR May 2010 to do 2 things simultaneously  to gain an advantage from the sustainability megatrend:

  1. Get the vision right
    • Stage 1: Do old things in new ways
    • Stage 2: Do new things in new ways
    • Stage 3: Transform core business
    • Stage 4: new business model creation and differentiation
  2. Get the execution right
    1. Elevate sustainability leadership  from departmental to C-level
    2. Update methods and models (Scenario Planning, business case analysis, trend spotting) to encompass environmental sustainability.
    3. Include green stakeholders (NGO representatives, academics, government officials) in strategy development
    4. Integrate management (integrate sustainability objectives into compensation models, performance reviews, etc)
    5. Change reporting and communication from ad hoc into sustainability scorecards that enable benchmarking, best practice comparisons

Corporate sustainability performance is an investable concept. This is crucial in driving interest and investments in sustainability to the mutual benefit of companies and investors. As this benefit circle strengthens, it will have a positive effect on the societies and economies of both the developed and developing world.
 

One of the critically important issues in sustainability is that of human overpopulation combined with human lifestyle. A number of studies have suggested that the current population of the Earth, already over six billion, is too many people for our planet to support sustainably at current material consumption levels. This challenge for sustainability is distributed unevenly. The ecological pressure of a US resident is said to be 13 times that of a resident of India and 52 times that of a Somalian resident.


Corporate Sustainability Forum
  Sustainability is a Pipe Dream
There is no such thing as sustainable. Maintenance...
     
 
  Transitioning Grant-Funded Research to a Sustainable Business
What steps do you believe are necessary to success...
     
 
  Why Does CSR Attract Customers?
Hughes (2017) mentions several reasons why focusin...
     
 
  10 Ways to Become a Socially Responsible Organization
Newlands (2017) sums up ten points helping firm...
     
 
  Why Should Firms Invest Strategically in Sustainability?
Businesses are increasingly implementing sustainab...
     
 
  Interconnection between CSR and Innovation
Hello! I'm working on a Master's thesis within whi...
     
 
  Waste-Free Production: Cradle to Cradle
In order to combat climate change, saving producti...
     
 
  Causes of the Gap Between Good Intentions and Actual Results of Corporate Sustainability Practices
Companies are increasingly addressing sustainabili...
     
 
  Issues with Creating Sustainable Workplaces
Business are increasingly focused on creating a mo...
     
 
  How to Improve Popularity of Remanufactured Products?
DEFINITION
Remanufacturing refers to t...
     
 
  Challenges of Sustainability Certification
Sustainability certification is being used globall...
     
 
  Fair Trade Labels: A Good Step?
Efforts to produce fair products have started long...
     
 
  How to Invest in Sustainable Portfolios
Investments are more and more trying to align thei...
     
 
  Investigate the PROCESS Impact on Sustainability: not Just the MATERIALS Used!
Often the impact on ENERGY far outweighs the Mater...
     
 
  Sustainability of Corporations, Industries and Nations
Meaning of Sustainability: an entity's ability to ...
     
 
  Hotel Sustainability: Put Humans in Focus
It always saddens me to see how often sustainabili...
     
 
  Sustainability and Quality Management System Go Hand in Hand
Reducing consumption both of raw-material and ener...
     
 
  PROs and CONs of Sustainable Development: Which One Wins?
Sustainable Development (SD) is often seen as some...
     
 
  Sustainability Management in Development Projects in Africa?
Dear Members,
I am currently undertaking rese...
     
 
  Substantive Corporate Sustainability versus Symbolic Corporate Sustainability
Due to increased awareness that people nowadays ha...
     
 

Corporate Sustainability Special Interest Group


Special Interest Group

 

Best Practices - Corporate Sustainability Premium

Expert Tips - Corporate Sustainability Premium
 

3 Main Views to Achieve Sustainable DevelopmentSign up

There are many views on the type of changes, but a...
Usage (application): Sustainable Development, Corporate Sustainability, Sustainable Society
 
 
 

3 Types of Pro-environmental BehaviourSign up

Lee, Kim, S. Kim, M. And Choi (2014) describe that...
Usage (application): Corporate Sustainability, Green Marketing
 
 
 

Corporate Sustainability CommitteeSign up

Even if the interest for and significance of Corpo...
Usage (application): Corporate Responsibility, Corporate Sustainability, Strategic Innovation, Corporate Governance
 
 

Resources - Corporate Sustainability Premium

Sustainable Leadership: Leading in SustainabilitySign up

Presentation about Sustainable Leadership, includi...
Usage (application): Corporate Sustainability, Leadership Styles
 

Exceptional Speech by then 13 year-old Severn Suzuki at the UN, 2008 on Environmental and Social ResponsibilitySign up

At the United Nations Conference on Environment an...
Usage (application): Environmental Responsibility, Social Responsibility
 

Planetary Boundaries: The Need for SustainabilitySign up

This presentation is about existing planetary limi...
Usage (application): Corporate Sustainability, Climate Change, Planetary Boundaries
 

How to Design and Build Sustainable Supply ChainsSign up

The presentation elaborates on ways to develop sus...
Usage (application): Sustainability, Supply Chain Management
 

Packaging and Sustainable Packaging (In-depth)Sign up

In-depth presentation about packaging and sustaina...
Usage (application): Sustainable Business, Environmental Sustainability, Packaging
 

Materialism. Causes, Consequences and RemediesSign up

Presentation about materialistic values and how th...
Usage (application): Corporate Sustainability, Consumerization
 

Outsourcing to Global Business Service Providers and Sustainable DevelopmentSign up

This presentation covers the issue of globalizatio...
Usage (application): Globalization, Outsourcing, Sustainable Development
 

Pursuing Corporate Sustainability Through Fair TradeSign up

Presentation about Fair Trade, one of the many for...
Usage (application): Corporate Social Responsibility, Corporate Sustainability, Fair Trade
 

Paperless Workplaces: Reasons, Practices and DifficultiesSign up

This presentation elaborates on the creation of pa...
Usage (application): Corporate Social Responsibility, Corporate Sustainability, Paperless Office
 

Creating Triple Bottom Line Awareness: An IntroductionSign up

This presentation elaborates on the concept of the...
Usage (application): Triple Bottom Line, Corporate Sustainability
 

Sustainability ReportingSign up

This presentation comments on Triple Bottom Line a...
Usage (application): Triple Bottom Line, Corporate Sustainability
 

Supply Chain SustainabilitySign up

Sustainability in supply chains, including the fol...
Usage (application): Triple Bottom Line, Supply Chain Management
 

Climate Change and Fossil Fuels: Introduction Into Divest InvestSign up

This presentation provides an introduction into th...
Usage (application): Corporate Sustainability, Sustainable Investment, Asset Management
 

Sustainability and Tourism: GeotourismSign up

Geotourism
This presentation is about Sustain...
Usage (application): Sustainable Business, Environmental Sustainability
 

Dealing with Climate Change and Resource Scarcity: a Pivot StrategySign up

Climate change and non renewable and renewable res...
Usage (application): Corporate Sustainability, Strategy, Pivot Strategy
 

Creating Inclusive Business ModelsSign up

Presentation that provides an introduction into in...
Usage (application): Business Models, Corporate Sustainability, International Development, Investing in Africa
 

Sustainable ManufacturingSign up


This presentation makes the business case fo...
Usage (application): Sustainable Business, CSR, Environmental Sustainability
 

Sustainability and CSR as Business CaseSign up


This presentation provides us valuable insig...
Usage (application): Sustainable Business, Environmental Sustainability, CSR
 
 

News about Corporate SustainabilitySign up


     
 

Videos about Corporate SustainabilitySign up


     
 

Presentations about Corporate SustainabilitySign up


     
 

Books about Corporate SustainabilitySign up


     
 

More about Corporate SustainabilitySign up


     

Compare with: Corporate Transparency  |   Corporate Accountability  |  Corporate Responsibility  |  Intrinsic Stakeholder Commitment  |  Strategic Stakeholder Management  |  Triple Bottom Line  |  Shareholder Value Perspective  |  Stakeholder Value Perspective  |  Bottom of the Pyramid  |  Public Relations  |  Environmental Insurance  |  Whistle Blower  |  Cultural Dimensions  |  Strategic Intent  |  Ashridge Mission Model  |  Clarkson Principles  |  Moral Purpose  |  Seven Surprises  |  Spiral Dynamics

Special Interest Group Leader

You here


 

Return to Management Hub: Communication & Skills  |  Decision-making & Valuation  |  Ethics & Responsibility  |  Finance & Investing  |  Leadership  |  Strategy


More on Management  |  Return to Management Dictionary  | 

 

This ends our Corporate Sustainability summary and forum.



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2018 12manage - The Executive Fast Track. V14.1 - Last updated: 20-4-2018. All names of their owners.