- Type: Research Paper
- Topic: Business - Ethics
- School Level: Master
- Length: 15 pages (4632 words)
- Sources: 8 sources
- Paper: #82302299
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Topic: Business Environmental Responsibilities and Stewardship The Sustainable Approach
Excerpt from Research Paper:
Furthermore safety standards must be enforced and constantly improved. This is where the local community comes in as a stakeholder. Supporting the community with initiatives varying from "education to health care, environmental protection and agricultural development" (Kaufman) has proven to be part of a strategic and profit enhancing strategy.
But things don't stop here. The company which has decided to do business and maintain a sustainability approach must be careful whom it makes business with. In other words, the company ought to monitor its suppliers and make sure that they follow the same business philosophy. Under these circumstances, the company and its associates collaborate in order to achieve the same sustainability goals.
Complying with all these standards is believed to result into six major benefits, as it follows: a sterling reputation, better employees, a production which is more efficient, a smoother relationship with the authorities, a better coordination both at internal and external level, suppliers that are more reliable and also more flexible. (Kaufman).
While this is the bright side of the story one must nevertheless realize the huge efforts that a company must perform in order to stay faithful to its sustainability goal. The main challenge is believed to be development. In other words, the companies ought to find the right path to make sure that while respect the environment and the community where they work, their profits continue to rise as well. (Journal of Business Ethics, 1990)
Cite this Paper:
"Business Environmental Responsibilities And Stewardship The Sustainable Approach" (2010, September 27) Retrieved December 6, 2013, from http://www.paperdue.com/essay/Business-Environmental-7876
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