...TASTE SUSTAINABLE DEVELOPMENT THROUGH CSR ____________________________________________________ INTRODUCTION Sustainable development is a vision and a way of thinking and acting so that we can secure the resources and environment for our future generation. It will not be brought through policies only - it must be taken up by society as a principle guiding the many choices each citizen makes every day, as well as the big political and economic decisions that affect many. It is clear that environmental degradation tends to impose the largest costs on those generations that are yet to be born. We can only improve sustainable development when it will put an emphasis on involving citizens and stakeholders. Ultimately, the vision will become reality only if everybody contributes to a world where economic freedom, social justice and environmental protection go hand in hand, making our own and future generations better off than now.1 Sustainability has emerged as a challenge before entire civilization. The challenge before us is to reduce disparity through capacity building and providing poor and dispossessed access to the knowledge and resources needed for meaningful life. National Development through Corporate Social Responsibility (CSR) and Sustainability ensures the well-being of individual by integrating business practices in an economically, socially and environmentally sustainable manner that is transparent and ethical. CSR is...
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...sustainability as business conditions change. However, only recently corporations started integrating sustainability as the part of their business strategy as they came to recognize that it is an essential part in growing and establishing themselves as the leader in the competing environment. A well-executed sustainability strategy can enhance the company’s value and reinforce competitive advantage in the market while protecting the capital base. The balance of power has shifted between corporations and it is important to balance economic prosperity along with environmental and social dimensions. Sustainable business strategy represents a marked shift in traditional business practices and companies who do not adapt to the changes in these practices in order to achieve sustainable profitability will be more likely to face the brand value decline or even extinction in the future. For instance, the change represents the need to understand how all three dimensions affect each other and companies ought to consciously create new consumer preferences. However, a lot of companies still are missing guidelines to implementing a marketing strategy of sustainability as an essential part, which is at the core of ensuring organizational, social, economic and environment growth while managing overconsumption issues (White, 2011). Current researches tend to focus on developing a more sustainable approach on product design, pricing, promotion and distribution when it comes to the sustainable business strategy...
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...Proceedings of the Fourth International Annual Conference of the Asia Pacific Academy of Business in Society Sustainable Decision-Making in a Time of Crisis Public and Private Perspectives Malcolm McIntosh and Susan Forbes Authors Malcolm McIntosh Director, Asia Pacific Centre for Sustainable Enterprise Susan M Forbes Adjunct Research Fellow, Asia Pacific Centre for Sustainable Enterprise © 2011 Asia Pacific Centre for Sustainable Enterprise Published by Asia Pacific Centre for Sustainable Enterprise Griffith Business School Griffith University, South Bank campus 226 Grey Street, South Brisbane Queensland, 4101 Australia www.griffith.edu.au/business-commerce/sustainable-enterprise All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic or mechanical, photocopying, recording or otherwise without the prior permission of the copyright owner. Copyright rests with the individual authors. ISBN 978-1-921760-45-7 Foreword The conference reflected lessons learnt and being learned from the global financial crisis, from the climate change prognosis and from rethinking global governance. The conference preceded the Asia-Pacific Economic Cooperation (APEC) 2010 Meetings and Summit (7-14 November in Yokohama, Japan) and coincided with the 10th anniversary of the United Nations (UN) Global Compact, and the UN Year of Biodiversity. Given the birth of the G20 group of nations, the...
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...Corporate Social Responsibility An Implementation Guide for Business Paul Hohnen, Author Jason Potts, Editor Corporate Social Responsibility An Implementation Guide for Business Paul Hohnen, Author Jason Potts, Editor ii Corporate Social Responsibility: An Implementation Guide for Business © 2007, International Institute for Sustainable Development The International Institute for Sustainable Development contributes to sustainable development by advancing policy recommendations on international trade and investment, economic policy, climate change and energy, measurement and assessment, and sustainable natural resources management. Through the Internet, we report on international negotiations and share knowledge gained through collaborative projects with global partners, resulting in more rigorous research, capacity building in developing countries and better dialogue between North and South. IISD’s vision is better living for all—sustainably; its mission is to champion innovation, enabling societies to live sustainably. IISD is registered as a charitable organization in Canada and has 501(c)(3) status in the United States. IISD receives core operating support from the Government of Canada, provided through the Canadian International Development Agency (CIDA), the International Development Research Centre (IDRC) and Environment Canada; and from the Province of Manitoba. The Institute receives project funding from numerous governments inside and outside Canada,...
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...Corporate Social Responsibility An Implementation Guide for Business Paul Hohnen, Author Jason Potts, Editor Corporate Social Responsibility An Implementation Guide for Business Paul Hohnen, Author Jason Potts, Editor ii Corporate Social Responsibility: An Implementation Guide for Business © 2007, International Institute for Sustainable Development The International Institute for Sustainable Development contributes to sustainable development by advancing policy recommendations on international trade and investment, economic policy, climate change and energy, measurement and assessment, and sustainable natural resources management. Through the Internet, we report on international negotiations and share knowledge gained through collaborative projects with global partners, resulting in more rigorous research, capacity building in developing countries and better dialogue between North and South. IISD’s vision is better living for all—sustainably; its mission is to champion innovation, enabling societies to live sustainably. IISD is registered as a charitable organization in Canada and has 501(c)(3) status in the United States. IISD receives core operating support from the Government of Canada, provided through the Canadian International Development Agency (CIDA), the International Development Research Centre (IDRC) and Environment Canada; and from the Province of Manitoba. The Institute receives project funding from numerous governments inside and outside Canada,...
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...A simple guide to understanding how the business benefits of corporate responsibility can be realised. Benefits explored include: • Reputation management • Risk management • Employee satisfaction • Innovation and learning • Access to capital • Financial performance ----------------------------------------------------------------------------------------------------------------------- |Strategic Corporate Social Responsibility: Stakeholders in a Global Environment | |[pic] | | |作者: | | |William B. Werther, David B. Chandler | | | | | |出版: | | |Sage Publications, Inc | | | | | |出版日期: ...
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...2007 Sustainable World In the late twentieth century, rapid development of information technology and products such as the PC, satellite and Internet became a driving force of globalization. The impact of globalization is reflected on weakening world governments in terms of decision-making and influence, and on the increasing power of multinationals. Data from the World Economic Forum (WEF) shows that among the largest 100 global economies, 51 of them are transnational groups and the rest are national states. Although businesses represent the lifeblood of a nation's economy, they place excessive demand on the natural environment in pursuit of growth and stress the earth's ecosystems. As a result, earth-protection groups are calling on transnational groups to take up environmental, moral and social responsibilities. "Sustainable Development" is widely considered the challenge facing corporations in the 21st century. One of the prerequisites to achieving sustainable development is by sincerely carrying out corporate social responsibility (CSR). In the past, a company’s responsibility was about maximizing profits for shareholders and fulfilling CSR through the tax paying mechanism; that was all about social responsibility. Nowadays the definition of CSR has shifted from acting egoistic to altruistic. For example, the World Business Council for Sustainable Development (WBCSD) defines CSR as "a business' commitment to contributing to sustainable economic development, working...
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...there is increasing focus on the interaction between internal capabilities and business activities with the external environment. Aras and Crowther (2007) integrated key attributes of sustainable activities, namely Societal influence, Environmental impact, Organisational culture and Finance, in conjunction with internal-external and short-term long-term context to develop the sustainable development guiding framework for corporations, i.e. Model of Sustainable Development. Visser (2010) proposed the concept of CSR 2.0, highlighting five dimensions (C)reativity, (S)calability, (R)esponsiveness, (2) glo-cality and 0) or circularity as the five targets for future CSR activities. Unilever’s CSR efforts in 2012 are analysed using the above models and short conclusions are drawn about the effectiveness and overall accountability and transparency achieved by the company. Model of Sustainable Development Theoretical Background Many executives are realising that an enterprise’s environmental and societal impacts influence business long term viability as much as financial performance (Lawler and Worley, 2012). This trend is clearly presented in a recent study by the United Nations (2013) since 96% of surveyed CEOS believe that sustainability is crucial to future success of their companies and they have certain plans to ensure sustainability. Owing to the importance of sustainability in contemporary business, it is of utmost important for firms to understand the meaning of and to develop...
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...GrowingScience.com/uscm Sustainable accounting reporting practices of Indian cement industry: An exploratory study Shagufta Khana , Vineet Chouhanb*, Bibhas Chandrac and Shubham Goswamib a Research Scholar, School of Management, Sir Padampat Singhania University, Udaipur-India Assistant Professor, School of Management, Sir Padampat Singhania University, Bhatewar, Udaipur-India, 313601 c Associate Professor, School of Management, Sir Padampat Singhania University, Bhatewar, Udaipur-India, 313601 b CHRONICLE Article history: Received September 10, 2013 Received in revised format 10 December 2013 Accepted February 25 2014 Available online February 27 2014 Keywords: Cement Industry Sustainability Financial Information Environment Accounting Reporting Sustainable Reporting Practices ABSTRACT Cement is the single most important and profitable product in the building material sector. With the economic boom, in India, Indian cement industry is a market of opportunities waiting to be tapped. However, at the same time cement industry is also experiencing a surge in demand. Production of Cement will always release carbon dioxide and change in the climate of the earth that is why despite its profitability, the cement industry faces many challenges regarding environmental concerns and sustainability issues. In order to minimize the impact of all of the above mentioned issues, it is clear that the cement and construction industry will have to adapt to remain sustainable and in this process...
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...Global Business and Management Research: An International Journal Corporate Social Responsibility Practices in India: A Study of Top 500 Companies Richa Gautam and Anju Singh Industrial Safety & Environment Management Group, National Institute of Industrial Engineering (NITIE), India Abstract Purpose -The purpose of this study is to explore the various definitions and descriptions of Corporate Social Responsibility (CSR); elaborate upon development of CSR in India; study the theoretical concepts expounded by various researchers and study the deployment of current CSR practices in India. This paper examines how India’s top 500 companies view, and conduct their CSR, identifies key CSR practices and maps these against Global Reporting Initiative standards. Design/methodology/approach -It is a cross sectional study which is exploratory in nature. It involved secondary data collection and use of content analysis technique to assess CSR practices of companies operating in India. Findings -The main findings of the study are that CSR is now presented as a comprehensive business strategy, arising mainly from performance considerations and stakeholder pressure. Companies consider their interaction with stakeholders and impact of its business on society as significant issues. CSR policies vary with turnover and profit. The study suggests that business and CSR strategy appear to be on a convergent path, towards business and CSR integration across the company. Out of the top 500 companies...
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...in the text of the dissertation. Signed _________________________________________________ Date ___________________________________________________ Table of content 1. INTRODUCTION 3 2. CSR 4 2.1. Definition 4 3. History of the selected businesses 5 3.1. Accor Hotel Group 5 3.2. Colgate – Palmolive Company 5 4. CSR Practices 6 4.1. Accor Hotel Group 6 4.2. Colgate – Palmolive Company 7 5. Discussion 9 5.1. Accor Hotel Group 9 5.2. Colgate – Palmolive Company 12 6. Conclusion 15 7. REFERENCE LIST 16 INTRODUCTION Corporate social responsibility (CSR) is a management initiative in which companies incorporate environmental and social issues into the relationships with stakeholders and also in their business processes. By implementing CSR practices, a company thrives on achieving a sense of balance between the triple bottom line (world’s social, environmental and economic needs) and the company’s competitiveness (Madrakhimova, 2013). Now at days it is becoming very clear that CSR can no longer be associated to the amount of money a company gives to charity, but it should relate to the actions made by companies in order to improve the...
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...CHAPTER ONE INTRODUCTION 1.0 INTRODUCTION The corporate world today embraced corporate social responsibility (CSR) into their daily business operation and become important matters to ensure the sustainability of the business. Therefore, CSR initiatives become a self-motivated for companies to benefits themselves while also benefiting others like protecting the environment, care for wellbeing of society and take a full responsibility for the entire world affected by their business operation. The reasons why companies actively engaged in CSR is because this action may assists to establish flawless and clear boundaries among the different interest of the stakeholders in the companies (Ángeles Gil Estallo, Giner de-la Fuente, & Gríful-Miquela, 2007). Besides that, todays companies make a good consideration into their decision to embedded social and environment matters was made investors realised that this approach can result in great opportunities in both financial and sustainable value creation (Louche, 2009). Furthermore, the researcher stated that by integrating CSR matters are significance for investor to make their investment analysis for potential companies in valuing the firm. Largely, international business increasingly aware about CSR initiative and take serious decisions about sustainability key issues due to shifting social expectation when companies facing corporate scandals and controversies that will eliminate public trust (Malaysia, 2013). Moreover,...
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...INTRODUCTION Among all stakeholders, recognition is focusing increasingly on the need for sustainable corporate practices, given pressing economic, social, and environmental problems on a global scale. By conducting business in ways that promote ecological health and human welfare, corporations increase value over the long term for consumers, shareholders and others for both current and future generations. Business students need to be familiar with, and committed to, principles and practices of corporate sustainability. This short essay outlines several sources in the literature on corporate sustainability provided by the following organizations: International Organization for Standardization (ISO); Price Waterhouse Coopers (PWC); Federal Reserve Bank of St. Louis; International Federation of Accountants (IFAC); Ernst & Young; and Association of Certified Public Accountants (AICPA). An annotated bibliography follows the discussion, highlighting articles of interest in corporate sustainability literature. Finally, figures provided in an appendix illustrate key concepts from the discussion. ISO 26000:2010 International Organization for Standardization * Headquartered in Geneva, Switzerland. A global consortium of experts in multiple aspects of quality-related standardization representing industry, nonprofits, government, healthcare, and academia. * Formulated by technical committees, standards are released after extensive review and a minimum 75%...
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...EPG SHRM Foundation’s Effective Practice Guidelines Series HRM’s Role in Corporate Social and Environmental Sustainability Produced in partnership with the World Federation of People Management Associations (WFPMA) and the North American Human Resource Management Association (NAHRMA) HRM’s Role in Corporate Social and Environmental Sustainability This publication is designed to provide accurate and authoritative information regarding the subject matter covered. Neither the publisher nor the author is engaged in rendering legal or other professional service. If legal advice or other expert assistance is required, the services of a competent, licensed professional should be sought. Any federal and state laws discussed in this book are subject to frequent revision and interpretation by amendments or judicial revisions that may significantly affect employer or employee rights and obligations. Readers are encouraged to seek legal counsel regarding specific policies and practices in their organizations. This book is published by the SHRM Foundation, an affiliate of the Society for Human Resource Management (SHRM®). The interpretations, conclusions and recommendations in this book are those of the author and do not necessarily represent those of the SHRM Foundation. ©2012 SHRM Foundation. All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system or transmitted in whole or in part...
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...BUT MANDATORY TO BE IN BATTLE –CORPORATE SUSTAINABLE DEVELOPMENT Dr PP Singh-Director, C.T Group of Institutions Maqsudan Campus Jalandhar. Arora Gaurav Singh-Management Faculty, Lovely Professional University Jalandhar. Rohit Kapoor-MBA-International Buisness,Lovely Professional University Jlandhar. Abstract In the current Business environment we often come across some facts where corporate enterprises form strategy to meet the second biggest challenge after transforming its business into corporate. The mainstream of the literature on corporate sustainability follows the win–win paradigm, according to which economic, environmental and social sustainability aspects can be achieved simultaneously. Where making profit is one primary objective and challenge for any corporate on the other front dynamism in the business environment lays corporate to plan down certain strategies to sustain in the battle irrespective of the crest and troughs in the business. This paper examines various strategies adopted by the companies to sustain ie- Corporate and social responsibility, stake holders management relations, environment management or it also the cost cutting part to be on the kitty to maintain the balance of revenues. The paper also highlights the manipulation of figures by the companies to be the arena. Introduction Corporate sustainable development means a formulation of Business strategy that puts the company...
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