Corporate Sustainability
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It is an organization’s goal to maximize shareholders’ wealth. At the most basic level, every organization has an economic responsibility to make a profit so that they can provide a return to their owners and investors, create employment and keep the economy flowing through contribution of goods and services. However, an organization must be also able to understand the importance of human and natural resources in the environment. Resources from the environment are not unlimited and its misuse can damage ecology and in turn, affect a company’s ability to achieve profit potential. The community is also another important factor because an organization’s customers are ultimately people in society and the well being of these individuals are vital to the success of a company. The notion of “adopting business strategies and activities that meets the needs of the organization and its stakeholders, while protecting, sustaining, and enhancing the human and natural resources in the future is becoming the objective of many companies” (Brundtland, 1987). Corporate sustainability is an organization’s endeavor to achieve best outcome for our society and the environment for both the present and the future (Dunphy, Benveniste, Griffiths and Sutton, 2000). For any organization to be successful in this new century, it must not overlook the social and environmental aspects of the world.
The social dimension of sustainability includes the political, cultural and all issues that concern the well-being of humanity. It involves that the basic conditions for human life to exist and prosper within society. These would comprise of areas such as physiological needs, for example: food, shelter and clothing (Carroll, 1991). There are also safety needs and