Global sustainability and corporate social responsibility: Be sustainable

Start Date: 05/19/2019

Course Type: Common Course

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About Course

It is no longer acceptable for organisations to focus entirely on financial success if they are to be competitive on the global stage. As corporate scandals continue to make headlines, you will expand your strategic thinking beyond your organisation’s competitive financial environment to consider its broader impact on society. You will grapple with the conflicting outcomes of maximising financial return and societal impact as you develop the skills to create a balance that is sustainable. Through structured learning activities (video lectures, quizzes, discussion prompts and written assessments) you will gain an appreciation of how important sustainability will be for every organisation in the future – and how to achieve it.

Course Syllabus

The nature of sustainability
Concerns with business impacts
Strategic responses to sustainability
The difficulty of being ethical in organisations

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Course Introduction

It is no longer acceptable for organisations to focus entirely on financial success if they are to be competitive on the global stage. As corporate sc

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Article Example
Corporate sustainability Corporate sustainability is an evolution on more traditional phrases describing ethical corporate practice. Phrases such as corporate social responsibility (CSR) or corporate citizenship continue to be used but are increasingly superseded by the broader term "corporate sustainability". Unlike phrases that focus on "added-on" policies, "corporate sustainability" describes business practices built around social and environmental considerations.
Institute of Corporate Responsibility and Sustainability The Institute of Corporate Responsibility and Sustainability (ICRS) is a professional body dedicated to supporting Corporate Responsibility and Sustainability practitioners. It is the successor to the Corporate Responsibility Group.
Corporate Responsibility Group Institute of Corporate Responsibility and Sustainability
Corporate social entrepreneurship CSE is multi-disciplinary, relating to the fields of corporate social responsibility and sustainability. It is relevant to business and management; specifically to business ethics, sustainability, organizational behavior, entrepreneurship, human resource management and business strategy. The concept overlaps with sociology, anthropology and social psychology and philosophy. See also: corporate social responsibility.
Social sustainability Social sustainability is the least defined and least understood of the different ways of approaching sustainability and sustainable development. Social sustainability has had considerably less attention in public dialogue than economic and environmental sustainability.
Taiwan Corporate Sustainability Awards The Taiwan Corporate Sustainability Awards (TCSA; ) is a corporate sustainability award in Taiwan. It awards outstanding Taiwanese companies and foreign companies operating in Taiwan for their contribution to sustainability. The award is hosted by the Taiwan Institute for Sustainable Energy.
Corporate social responsibility The term "corporate social responsibility" became popular in the 1960s and has remained a term used indiscriminately by many to cover legal and moral responsibility more narrowly construed.
Corporate Responsibility Group The Corporate Responsibility Group (CRG) was a training and development network for corporate responsibility (CR) and sustainability practitioners in the United Kingdom. Founded in 1987, it was succeeded in January 2015 by spin-off Institute of Corporate Responsibility and Sustainability (ICRS).
Corporate sustainable profitability Corporate sustainable profitability (CSP) revolves around the idea that companies who take responsibility from an economical, environmental and social perspective can become more profitable.
Corporate sustainability Measuring corporate sustainability is possible through composite indicators which aggregate environmental, social, corporate governance and economic measures, e.g. Complex Performance Indicator (CPI).
Social sustainability There are several approaches to social sustainability. The first, which posits a triad of environmental sustainability, economic sustainability, and social sustainability, is the most widely accepted as a model for addressing sustainability. The concept of "social sustainability" in this approach encompasses such topics as: social equity, livability, health equity, community development, social capital, social support, human rights, labour rights, placemaking, social responsibility, social justice, cultural competence, community resilience, and human adaptation.
Collective responsibility As the business practices known as corporate social responsibility (CSR) and sustainability mature and converge with the responsibilities of governments and citizens, the term "collective responsibility" is beginning to be more widely used.
Corporate social responsibility Some national governments promote socially and environmentally responsible corporate practices. The heightened role of government in CSR has facilitated the development of numerous CSR programs and policies. Various European governments have pushed companies to develop sustainable corporate practices. CSR critics such as Robert Reich argued that governments should set the agenda for social responsibility with laws and regulation that describe how to conduct business responsibly.
Altruistic corporate social responsibility Altruistic corporate social responsibility is a form of corporate social responsibility (CSR) that goes beyond ethical behavior to voluntarily donate time and/or money towards certain groups of stakeholders, even if the time or money commitment sacrifices part of the business profitability. Altruistic CSR can be viewed as unethical from a business standpoint because it encourages Utilitarianism, a form of philanthropy in which "ethical actions result in the greatest good for the greatest number," as well as going against the theory of Deontology.
Corporate social responsibility Creating Shared Value, or CSV is based on the idea that corporate success and social welfare are interdependent. A business needs a healthy, educated workforce, sustainable resources and adept government to compete effectively. For society to thrive, profitable and competitive businesses must be developed and supported to create income, wealth, tax revenues and philanthropy. The Harvard Business Review article "Strategy & Society: The Link between Competitive Advantage and Corporate Social Responsibility" provided examples of companies that have developed deep linkages between their business strategies and CSR. CSV acknowledges trade-offs between short-term profitability and social or environmental goals, but emphasizes the opportunities for competitive advantage from building a social value proposition into corporate strategy. CSV gives the impression that only two stakeholders are important - shareholders and consumers.
United Nations Global Compact The UN Global Compact is the world's largest corporate sustainability ( corporate social responsibility) initiative with 13000 corporate participants and other stakeholders over 170 countries with two objectives: "Mainstream the ten principles in business activities around the world" and "Catalyse actions in support of broader UN goals, such as the Millennium Development Goals (MDGs) and Sustainable Development Goals (SDGs)". Moving forward, The UN Global Compact and its signatories are deeply invested and enthusiastic about supporting work towards the SDGs.
Corporate social responsibility Corporate social responsibility and its resulting reports and efforts should be verified by the consumer of the goods and services. The accounting, auditing and reporting resources provide a foundation for consumers to verify that their products are socially sustainable. Due to an increased awareness of the need for CSR, many industries have their own verification resources. The include organizations like the Forest Stewardship Council (paper and forest products), International Cocoa Initiative, and Kimberly Process (diamonds). The United Nations also provides frameworks not only for verification, but for reporting of human rights violations in corporate supply chains.
Corporate Responsibility Group The Institute of Corporate Responsibility and Sustainability was created by CRG in 2014 to respond to the need for an organisation that supports the personal and professional development of individuals in CR, sustainability or related functions.
Corporate sustainability Companies focused on sustainability are appointing chief sustainability officers leading a department with a mandate to proactively develop and implement a corporate sustainability strategy.
Corporate governance In 2009, the International Finance Corporation and the UN Global Compact released a report, Corporate Governance - the Foundation for Corporate Citizenship and Sustainable Business, linking the environmental, social and governance responsibilities of a company to its financial performance and long-term sustainability.