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Sustainable International Business- Dutch

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Sustainability is a very tricky issue that a lot of people have become concerned with in the last few years. Some people can get confused as to what sustainability actually is and what it entails. This is understandable because it is a very complex issue that can be discussed in a lot of different areas but we will discuss business sustainability. In 1987 the United Nations’ Bruntland Commission defined sustainable like this, “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” In a more practical business term it is the use of triple bottom line accounting which is a process by which companies manage their financial, social, and environmental risks, obligations, and opportunities. An even better definition is that business sustainability represents resiliency over time. This shows that businesses can survive shocks because they are intimately connected to healthy economic, social and environmental systems. Sustainability is also very complex because it borrows elements from four more established concepts of sustainable development, corporate social responsibility, stakeholder theory and corporate accountability theory. Another element of sustainability can also be explained with Michael Porter’s Shared Values approach. It is an approach to business where you not only create economic value but you also create value for society by addressing its needs and challenges. This is not social responsibility but a way of achieving economic success. This is at the core of what these companies do as a business not in the margins. When you look at sustainability though you must evaluate the history of it and where it fits into business practices today. The principle of sustainability has been around for many years back to the start of the Agrarian society. During

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