Understanding Business Sustainability: The What, the Why, and the How of Sustainable Business Practices
Published: 2019
Author(s) Name: Wangchuk Chungyalpa |
Author(s) Affiliation: Assitant Professor (Sr. Gd), SRM University Sikkim, Department of Management, Gangtok, Sikkim, India
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Abstract
In the past three centuries human progress and
development have been remarkable such that even
the poorest and the least developed countries have
realized substantial improvements in living standards,
health care and access to education. However, these
developments have come with minimum regard to social
evolution and environmental protection. In the long
run such form of development is unsustainable. The
private sector is a key stakeholder having significant
impact on the sustainability effort. This paper consists
of three sections. The first section examines the
concept of sustainable practices - its origin, definition
and taxonomy. The second section explains ‘why’ the
focus on sustainable business practices. The final
section explores ‘how’ sustainability can be practiced
by businesses. It provides a comparison of the various
frameworks, guidelines, standards and tools by asking
twelve questions. The aim of this paper is to make a
case for sustainable business practices.
Keywords: Sustainable Business Practices, Sustainable Business Framework, Sustainable Business Tools, Sustainable Business Guidelines
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