Unsere Top Favoriten - Suchen Sie auf dieser Seite den Corporate responsibility and sustainability Ihren Wünschen entsprechend . Dazu gehören unter anderem große Transparenz und umfassende Programme zur Mitarbeiterentwicklung. Er ist Herausgeber der Managementreihe Corporate Social Responsibility im Springer Gabler Verlag sowie der internationalen Publikationsserie „CSR, Sustainability, Ethics and Governance“ bei Springer. Sustainability Theory and Conceptual Considerations: A Review of Key Ideas for Sustainability, and the Rural Context. The contribution of stakeholder theory to the corporate sustainability is the addition of business arguments as to why companies should work toward sustainable development. This trend will be reinforced if shareholders and other stakeholders support and reward companies that conduct their operations in the spirit of sustainability. Auflage. Not all companies currently subscribe to the principles of corporate sustainability, and it is unlikely that all will, at least not voluntarily. The goal of stakeholder theory is to help corporations strengthen relationships with external groups in order to develop a competitive advantage. They espouse five corporate sustainability practices of Perseverance, Resilience Development, Moderation, Geosocial Development and Sharing to enhance corporate sustainability prospect. The contributions of these four concepts are illustrated in Figure 1. The authors argued that while corporations have always been the engines for economic development, they needed to be more proactive in balancing this drive with social equity and environmental protection, partly because they have been the cause of some of the unsustainable conditions, but also because they have access to the resources necessary to address the problems. First, it helps set out the areas that companies should focus on: environmental, social, and economic performance. Both publications focused on the role of corporations in sustainable development, and the authors argued that supporting sustainable development was as much an economic necessity as it was an environmental and social necessity. Corporate sustainability borrows elements from four other concepts. The stakeholder theory emphasizes special social rather than any others unrelated to the corporation. As sustainability champions, we are sometimes confronted by frustrated people who ask what we mean by “sustainability.” What they really want to know is sustainability’s relevance to them, their organization, or their community. A review of the literature suggests that the concept of corporate sustainability borrows elements from four more established concepts: 1) sustainable development, 2) corporate social responsibility, 3) stakeholder theory, and 4) corporate accountability theory. All rights reserved. The contribution of corporate accountability theory to corporate sustainability is that it helps define the nature of the relationship between corporate managers and the rest of society. Central here is the notion of the so-called triple bottom line—that businesses should pay attention to social performance and environmental performance as well as to financial returns. As a specific theory of the way corporations interact with the surrounding community and larger world, corporate social responsibility (CSR) As a specific theory of business ethics, a package of four obligations the corporation holds as an independent ethical actor in society; the responsibilities are economic, legal, ethical, and philanthropic. In recent years there has been significant discussion in the business, academic, and popular press about “corporate sustainability.” This term is often used in conjunction with, and in some cases as a synonym for, other terms such as “sustainable development” and “corporate social responsibility.” But what is corporate sustainability, how does it relate to these other terms, and why is it important? Since then, many business leaders and corporations have come forward to show their support for the principles of sustainable development. 3. However, sustainable development by itself does not provide the necessary arguments for why companies should care about these issues. Corporate Sustainability und Corporate Citizenship sind der CSR-Thematik sehr ähnlich und werden oftmals im selben Kontext genannt. The contribution of sustainable development to corporate sustainability is twofold. Corporate sustainability is a new and evolving corporate management paradigm. As a concept, CSR has been around much longer than sustainable development or the other concepts discussed in this paper. Corporate Sustainability (CS) Corporate Sustainability bedeutet, im Unternehmen eine langfristig nachhaltige Strategie zu etablieren - nicht nur auf ökologischer, sondern auch auf sozialer, kultureller und ökonomischer Ebene. One of the first challenges for companies is to identify their stakeholders. Most authors agree that if the term ‘stakeholder’ is to be meaningful, there must be some way of separating stakeholders from non-stakeholders. is composed of four obligations: … This is a challenge because different stakeholder groups can, and often do, have different goals, priorities, and demands. Industry’s response to the WCED’s call came in stages as everyone wrestled with what sustainable development in action should look like. Accountability differs from responsibility in that the latter refers to one’s duty to act in a certain way, whereas accountability refers to one’s duty to explain, justify, or report on his or her actions. Those arguments come from corporate social responsibility and stakeholder theory. ); C. Garzillo, S. Kuhn (Autoren): Zyklisches Nachhaltigkeitsmanagement für Kommunen. Sustainability is awareness that each entity is surrounded by stakeholders. Freeman defined a stakeholder as “any group or individual who can affect or is affected by the achievement of the organization’s objectives.” The basic premise of stakeholder theory is that the stronger your relationships are with other external parties, the easier it will be to meet your corporate business objectives; the worse your relationships, the harder it will be. For example, companies that receive environmental permits and approvals from regulators to operate facilities are often held accountable by the regulators for whether the terms of the approval are being met. Mix sustainable development, corporate social responsibility, stakeholder theory and accountability, and you have the four pillars of corporate sustainability. 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. Im Hauptteil dieser Arbeit wird der Frage nach den Chancen und den Risiken von CSR in Unternehmen nachgegangen. Umsetzung der Aalborg Commitments in 5 Schritten. The theory of corporate sustainability asserts that the perseverant behavior of corporate members who persist to carry out what needs to be done, despite great difficulties and influence from other people or situations, is key to long-term, sustainable success. The term was first popularized in 1987, in Our Common Future, a book published by the World Commission for Environment and Development (WCED). Second, it provides a common societal goal for corporations, governments, and civil society to work toward: ecological, social, and economic sustainability. Corporate responsibility and sustainability - Unsere Favoriten unter allen analysierten Corporate responsibility and sustainability. The term ‘paradigm’ is used deliberately, in that corporate sustainability is an alternative to the traditional growth and profit-maximization model. Over time, until today, an increased awareness of the impact of business and its interaction with social and environmental issues have emerged.Companies are today obliged to some certain responsibilities in the society where they are active. Strong relationships with stakeholders are those based on trust, respect, and cooperation. Corporate sustainability in investment can fall under the terms ESG for environment, social, and governance or the acronym SRI which stands for socially responsible investment. The issue of qualifying criteria for stakeholder status is currently being debated. This was followed in 1992 by the book Changing Course, by Stephen Schmidheiny and the Business Council for Sustainable Development (now the World Business Council for Sustainable Development; MIT Press, 1992). It’s an evolving concept that managers are adopting as an alternative to the traditional growth and profit-maximization model. Corporate accountability provides the rationale as to why companies should report to society on their performance in these areas. Corporate sustainability is another common usage, which relates both to the survivability of the individual corporation and to the contribution that corporations can make to the broader sustainability agenda. © Copyright 2018 Ivey Business School Foundation. Stakeholder theory suggests that it is in the company’s own best economic interest to work in this direction because doing so will strengthen its relationship with stakeholders, which in turn will help the company meet its business objectives. While corporate sustainability recognizes that corporate growth and profitability are important, it also requires the corporation to pursue societal goals, specifically those relating to sustainable development — environmental protection, social justice and equity, and economic development. Beyond these, however, it becomes more challenging because there are no clear criteria for defining stakeholders. Other authors have suggested that if you consider the global impacts of industry – such as climate change or cultural changes due to marketing and advertising – everyone is a stakeholder. Is it a threatening concept, or a friendly one? The first serious sign of support came from the International Chamber of Commerce when it issued its Business Charter for Sustainable Development in 1990. BMU, econsense, Centre for Sustainability Management, Berlin/ Lüneburg 2007. We use cookies to help provide and enhance our service and tailor content and ads. It was first popularized by R. Edward Freeman in his 1984 book Strategic Management: A Stakeholder Approach (Pitman Books, Boston, Mass, 1984). In 1997, John Elkington of the UK consultancy, Sustain Ability, called this type of accounting on environmental, social, and economic performance as ‘triple bottom line’ reporting. Corporate Sustainability) werden sehr uneinheitlich verwendet. Corporate sustainability can have different meanings depending on the business context. The objective is to explore how these theories are used in corporate social responsibility (CSR) disclosure. Corporate sustainability can be viewed as a new and evolving corporate management paradigm. It recognized that industry had a significant role to play. ScienceDirect ® is a registered trademark of Elsevier B.V. ScienceDirect ® is a registered trademark of Elsevier B.V. Toward a theory of corporate sustainability: A theoretical integration and exploration. Currently various innovative approaches and new theories emerged, such as Co-evolution Theory and Multi-level Perspective, reflecting three directions of theory development, namely 1) … Business ethics theory of CSR. Like sustainable development, corporate social responsibility (CSR) is also a broad, dialectical concept. Companies enter into contracts (both explicit and implicit) with other stakeholder groups as a matter of everyday business, and these contractual arrangements can serve as the basis for accountability relationships. … Its basic premise is that corporate managers have an ethical obligation to consider and address the needs of society, not just to act solely in the interests of the shareholders or their own self-interest. Proponents of social contract theory often argue that corporations are given a ‘licence to operate’ by society in exchange for good behaviour, and as such the corporations should be accountable to society for their performance. Sustainability Theory Theories of sustainability attempt to prioritize and inte- grate social responses to environmental and cultural problems. Unlike CSR, which is largely a philosophical concept, stakeholder theory was originally, and is still primarily, a strategic management concept. Stakeholder theory suggests that it is in the company’s own best economic interest to work in this direction because doing so will strengthen its relationship with stakeholders, which in turn will help the company meet its … Sustainable development is a broad, dialectical concept that balances the need for economic growth with environmental protection and social equity. Herzlich Willkommen auf unserer Seite. The “business case for sustainability” is a notion often referenced in the corporate sustainability and corporate social responsibility literature. According to Archie B. Carroll, one of the most prolific authors on CSR, the modern era of CSR began with the publication of the book Social Responsibilities of the Businessman by Howard Bowen in 1953. In the most general terms, CSR deals with the role of business in society. For the first few decades after 1953, the main focus of these writings was whether corporate managers had an ethical responsibility to consider the needs of society. To ensure the proposed theory’s external validity and practicality, a qualitative case study is conducted to explore its core theoretical propositions and to detect possible anomalies. Stakeholder theory, which is short for stakeholder theory of the firm, is a relatively modern concept. The agent is also held accountable by the principal for how that capital is used and the return on the investment. However, there is a general acknowledgement that the goals of economic stability, environmental protection, and social justice are common across many stakeholder groups. It starts by integrating relevant theoretical and empirical literature into a coherent theory of corporate sustainability asserting that the sustainability organizational culture comprising sustainability vision and values leads to emotional commitment among organizational members to attain the vision. Or, as described in the book, it is “a process of change in which the exploitation of resources, the direction of investments, the orientation of technological development, and institutional change are all in harmony and enhance both current and future potential to meet human needs and aspirations.” Sustainable development is a broad concept in that it combines economics, social justice, environmental science and management, business management, politics and law. In Our Common Future, (Oxford University Press, 1987) the WCED recognized that the achievement of sustainable development could not be simply left to government regulators and policy makers. Their number continues to grow. This relationship can be viewed as a contract in which the principal entrusts the agent with capital and the agent is responsible for using that capital in the principal’s best interest. Managerial implications and directions for future theoretical refinement are also discussed. This study analyzes the perspectives of the institutional theory, the legitimacy theory, and the stakeholders’ theory in the accounting changing process and sustainability reports. To … The field of corporate social responsibility (CSR) shows to have become more important around the world.The role of business and the way it is perceived by society has gone through several changes throughout the history. The paper shows that, the main theories linking sustainability to firms, in a chronological order, are: 1) Corporate Social Responsibility, 2) Stakeholder Theory, 3) Corporate Sustainability, and 4) Green Economics. The contribution of stakeholder theory to the corporate sustainability is the addition of business arguments as to why companies should work toward sustainable development. It is a dialectical concept in that, like justice, democracy, fairness, and other important societal concepts, it defies a concise analytical definition, although one can often point to examples that illustrate its principles. Ist Corporate Social Responsibility„an essential ingrediens for the survival of any organisation“1 oder eher eine ethisch motivierte Luxusaktivität in wirtschaftlich guten Zeiten? An evaluation system on corporate sustainability, theory and application in China Companies have adopted a variety of phrasings, including terms such as corporate responsibility, sustainable growth, and global corporate citizenship, to capture the essence of their own journeys towards achieving Sustainability. Privacy Policy. In the corporate world, there are many different accountability relationships, but the relevant one in the context of this paper is the relationship between corporate management and shareholders. CSM Lüneburg (1,6 MB; PDF) ICLEI (Hrsg. Sreeti Raut is holding a Master’s Degree in Business Administration focusing on Finance and Insurance & Risk Management and presently she is a Research Scholar with Institute of Directors, India . Sustainable development sets out the performance areas that companies should focus on, and also contributes the vision and societal goals that the corporation should work toward, namely environmental protection, social justice and equity, and economic development. A 1973 article by Nicholas Ebserstadt traced the history of CSR back to ancient Greece, when governing bodies set out rules of conduct for businessmen and merchants (Managing Corporate Social Responsibility, Little, Brown and Company, 1977). Few groups would argue against these goals, although they may debate the level of priority or urgency. To be sustainable, companies must do ve things: Foremost, they must operate responsibly in alignment with universal principles and take actions that support the society around them. How to Govern, Manage, and Work Amid COVID-19, How to Sell When the World Is Upside Down, Maintaining Professional Networks in Good Times and Bad, Understanding the Link Between Crisis and Innovation. Dementsprechend herrscht häufig Verwirrung über die Bedeutung dieser Ansätze. Assuming that the main stakeholders have been identified, the next challenge for corporate managers is to develop strategies for dealing with them. The … Keywords: corporate sustainability; sustainability theory; sustainable corporation; sustainable business; sustainable enterprise; su ciency economy; Asia; Thailand 1. The fourth and final concept underlying corporate sustainability is corporate accountability. Introduction. Among the first few holistic theories of corporate sustainability, Kantabutra (2019) theory of corporate sustainability, as informed by the philosophy of Sufficiency Economy, asserts that corporations adopting the corporate sustainability practices of Perseverance, Resilience Development, Moderation, Geosocial Development and Sharing are sustainable. It also sets out the arguments as to why companies should report on their environmental, social, and economic performance, not just financial performance. Since then, many authors have written on the topic. Some authors have suggested that stakeholders are those that have a stake in the company’s activities – something at risk. Corporate Governance and Sustainability Concepts . Whereas some see sustainability and the business case as contradictions and thus emphasize the existence of trade-offs, others highlight how (potential) business cases can be created by managing ecological, social, and economic aspects. To fill in a gap in the corporate sustainability literature, the present study proposes an integrated theory of corporate sustainability. Although the concept acknowledges the need for profitability, it differs from the traditional growth and profit-maximization model in that it places a much greater emphasis on environmental, social, and economic performance, and the public reporting on this performance. Corporate Governance . Copyright © 2020 Elsevier B.V. or its licensors or contributors. Corporate accountability need not be restricted to the traditional fiduciary model, nor only to the relationship between corporate management and shareholders. Accountability is the legal or ethical responsibility to provide an account or reckoning of the actions for which one is held responsible. Each concept, and its relationship to corporate sustainability, is discussed below. https://doi.org/10.1016/j.jclepro.2020.122292. Corporate social responsibility contributes ethical arguments and stakeholder theory provides business arguments as to why corporations should work towards these goals. The corporate citizenship theory emphasizes that the business should contribute to the social welfare through defending the human rights. SD is increasingly seen as a logical It is the opportunity for businesses to improve their profitability, competitiveness, and market share without compromising resources for future generations. © 2020 Elsevier Ltd. All rights reserved. The business ethics theory is based on wider social obligation and the moral duty that business has towards society (Bigg, 2004). This relationship is based on the fiduciary model, which in turn is based on agency theory and agency law, wherein corporate management is the ‘agent’ and the shareholders the ‘principal’. By continuing you agree to the use of cookies. Corporate sustainability is imperative for business today – essential to long-term corporate success and for ensuring that markets deliver value across society. Außerdem werden zwei ausgewählte theoretische Ansätze zum Thema CSR präsentiert, um einen wissenschaftlichen Bezug zu schaffen. Based on the stakeholder theory, the business should be managed in a way that it benefits all the stakeholders (Cheng, Ioannou and Serafeim, 2014). Shareholders and investors want optimum return on their investments; employees want safe workplaces, competitive salaries and job security; customers want quality goods and services at fair prices; local communities want community investment; regulators want full compliance with applicable regulations. Building and cultivating good relations with stakeholders based on engagement and dialogue is crucial, because it not only affects the possibilities to manage risks, but also supports development and gives the organization a … The role of business in society has been debated ever since. By 1980 it was generally agreed that corporate managers did have this ethical responsibility, and the focus changed to what CSR looked like in practice. Thus CSR is denoted as a company stakeholder responsibility. Von der Idee zur Praxis: Managementansätze zur Umsetzung von Corporate Social Responsibility und Corporate Sustainability. In many ways CSR can be considered a debate, and what is usually in question is not whether corporate managers have an obligation to consider the needs of society, but the extent to which they should consider these needs. Corporate Sustainability Barometer auf einer Unternehmensbefragung, die folgende Grundlogik aufweist: Je nachdem, warum und mit welcher Intention sich Unternehmen für Nachhaltigkeit engagieren, bieten sich verschiedene Strategien an, die sich als Handlungsmuster äußern. Corporate Sustainability Referring back to the system-level concept of sustainable development (WCED 1987), Bansal (2005) defines corporate sustainability as the intersection of the three principles: environmental integrity, social equity, and economic prosperity. The WCED described sustainable development as development that met the needs of present generations without compromising the ability of future generations to meet their needs. The arguments in favour of corporate managers having an ethical responsibility to society draw from four philosophical theories: CSR contributes to corporate sustainability by providing ethical arguments as to why corporate managers should work toward sustainable development: If society in general believes that sustainable development is a worthwhile goal, corporations have an ethical obligation to help society move in that direction. This paper addresses these questions. There appears to be general agreement among companies that certain groups are stakeholders — shareholders and investors, employees, customers, and suppliers. They espouse five corporate sustainability practices of Perseverance, Resilience Development, Moderation, Geosocial Development and Sharing to enhance corporate sustainability prospect. However, a significant number of companies have made public commitments to environmental protection, social justice and equity, and economic development.