In recent years, corporations of all sizes and orientations have become more sensitive to social issues and stakeholder concerns, and they are collectively striving to become better corporate citizens (in some cases, urged on by shareholder pressure or government regulations). The best practices in corporate sustainability are no longer the exclusive domain of companies like Ben & Jerry's or Body Shop as they were a decade ago; now, large, multi-national companies like G.E. and Wal-Mart are leading the way with significant financial and organizational commitments to social and environmental issues. To help managers and academics keep their eye on the ever-moving target of sustainability, award-winning author and academic Marc Epstein's provides an authoritative and comprehensive guide to implementing corporate sustainability initiatives and to measuring both their social and financial impacts.
"Epstein offers guidance on implementing sustainability initiatives. Subjects include creating budgets, engaging with stakeholders, and quantifying projects’ social and financial impacts."Stanford Social Innovation Review
A black swan is a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. The astonishing success of Google was a black swan; so was 9/11.
2008 and 2009 will be remembered for bear markets, a global credit crunch and some of the largest investment scams ever. But these scams are nothing new; from Charles Ponzi to Bernard Madoff to Sir R. Allen Stanford, they've been repeated throughout history, and there will certainly be more to come
The world’s leading economies are facing not just one but many crises. The financial meltdown may not be over, climate change threatens major global disruption, economic inequality has reached extremes not seen for a century, and government and business are widely distrusted. At the same time, many people regret the consumerism
Empirical studies find that firms that integrate sustainability into their culture and business practices are better able to integrate sustainability messaging into mainstream communications.
As the worldwide market has become more homogeneous in terms of customer needs and preferences, a global strategy serves to pursue global markets.
If regulations and standards vary widely from one location to another, locally adapted sustainability standards may be suitable.
The delay in technological upgrade may motivate the company to adopt local sustainability standards.
The relationship between corporate headquarters and the business units is shaped by the level of autonomy given.
Executives are responsible for prioritizing social, environmental, and economic issues and identifying those where their company can have the greatest impact.
Formulating a successful sustainability strategy is about choosing which issues the company will address.
identifying the principles of sustainability is only a step in improving corporate accountability and long-term profitability.
The size of corporate sustainability expenditures is increasing rapidly and the necessity of improved identification and management of these impacts has become critical.
Corporate responsibility implies that a company is contributing to sustainable development of society, which includes economic growth, environmental protection, and social progress.
Sustainability is defined as economic development that meets the needs of the present generation without compromising the ability if future generations to meet their own needs.
The plan requires retailers to have rigorous independent inspections and to help pay for fire safety upgrades and some other building improvements.
From now on, where their contractors have factories, retailers may also become accountable for building safety.