Corporate Social Responsibility and Sustainable Business

Corporate Social Responsibility and Sustainable Business

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A growing body of evidence asserts that corporations can do well by doing well. Well-known companies have already proven that they can differentiate their brands and reputations as well as their products and services if they take responsibility for the well-being of the societies and environments in which they operate. These companies are practicing Corporate Social Responsibility (CSR) in a manner that generates significant returns to their businesses.

The Sustainable Business by Jonathan Scott is an award-winning, easy-to-read book that explains how companies both large and small are learning to increase their chances of survival by generating long-term wealth, reducing resource consumption, and eliminating waste and pollutants- while creating jobs in the process. The author explains the importance of waste minimization as a first step toward sustainability with an emphasis on the optimization of resources.

Corporate Social Responsibility is the way companies manage their businesses to produce an overall positive impact on society through economic, environmental and social actions.

As we know that the world is rapidly changing. And one of the factors behind this change is growing population that is competing for the world’s limited resources. But there is good news. The next industrial revolution is taking shape in the form of businesses that are learning to do more with less.

Examples include a subsidiary of the DuPont corporation achieved a goal of zero-waste to landfill, generated $2.2-billion in new revenue, and reduced production costs by over $400,000. While General Electric reduced its annual costs by $100-million, generated an increase of $17-billion in yearly revenues, and eliminated 30% of its greenhouse gas emissions.

The word used to describe this movement is sustainability, and it is defined as ‘the capacity to continue into the long-term’. During the first five years of its commitment to sustainability, the world’s largest manufacturer of carpet tiles began eliminating its waste and using its old products to make new products. As a result the company tripled its revenues, doubled its profits, and doubled employment while watching its stock price increase 550%.

The Sustainable Business by JonathanScott  is an award-winning,  that explains how companies both large and small are learning to increase their chances of survival by generating long-term wealth, reducing resource consumption, and eliminating waste and pollutants- while creating jobs in the process.

The author explains the importance of waste minimization as a first step toward sustainability with an emphasis on the optimization of resources (including labour and markets as well as purchases and investments).The Sustainable Business is being distributed by Three education-based, non-profit organizations that work together to ensure that information about sustainability (and what is called the circular economy) is freely available to the general public:

1) The Centre for Industrial Productivity and Sustainability (CIPS) provides education and training materials (books, manuals, videos… as well as guidance) to help managers (and business school curricula) engineer a more sustainable future.

2) EFMD (the European Foundation for Management Development) is a European academic-quality assessment organization that accredits the world’s best business schools.

3) The Product-Life Institute is Europe’s oldest sustainability-based think tank, research center and consultancy.

About the author

CSR VISION
CSR VISION is India’s ( probably world’s ) first monthly magazine in print devoted to CSR and Sustainable Development for bringing together all stakeholders of SUSTAINABLE DEVELOPMENT at a global and local levels and act as a platform for promoting strategic CSR and sustainable development practices through dissemination of information and knowledge.