Corporate Sustainable Strategy will be the new corporate mantra as it is increasingly embraced by all types of organisations across the world.
What is Sustainability?
Sustainability is an approach or framework for managing an organisation that measures and balances Economic, Environmental and Social impacts on stakeholders and society. Organisations will produce plans and reports against each of these areas. In the sense that an organisation works to optimise this balance, it has been called the Triple Bottom Line.
What Are The Origins?
Initially, Sustainability emanated from environmental concerns for Sustainable Development. Sustainable Development is defined as: "Development that meets the needs of current generations without compromising the ability of future generations to meet their needs." The Brundtland Commission (UN)
Concurrently, there has been a significant increase in corporate social responsibility companies in the UK, as consumers and shareholders, demanding that organisations must take responsibility for their behaviour and demonstrate a commitment to sustainable development through Corporate Social Responsibility.
This is described as:
"Continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families, as well as the local community and society at large." The World Business Council on Sustainable Development
Corporate sustainable strategy is creating significant competitive benefits and higher profits for organisations willing to modify their corporate culture to the realisation that doing the right thing for the environment and society makes a good business strategy.
How Does It Work?
A corporate sustainable strategy aims to create long-term stakeholder value through the implementation of a sustainable business strategy that focuses on the ethical, social, environmental, cultural, and economic factors of doing business. Organisations will identify and engage their stakeholders in considering the impacts they have or could have on them, and measure and report on their performance in meeting the expectations of their stakeholders. There are systems and protocols that will guide and support an organisation in implementing and maintaining CSR strategies.
This Is Profound and Encompassing
This open and dynamic interaction ultimately will have a more pervasive and lasting influence on an organisation than would any legislated requirement. It will create healthy tension and balance - a vibrancy leading to a fully articulated and accountable Triple Bottom Line.
Consumers are concerned about the origins of products and the conditions in which they were made. Child workers, unsafe working conditions, and abysmal labor practices capture consumers' consciences. In response, astute corporations are working to ensure that specified standards are maintained throughout their sphere of influence, including their supply chains. Therefore, corporate social responsibility companies in the UK are taking this methodology for calibrating corporations and their performance.
Corporate Sustainability Strategy encompasses:
• The Environment
• Human Rights
• Labor Practices
• Organisational Governance
• Fair Business Practices
• Community Involvement
• Consumer Issues
• Financial Performance
The Benefits of Corporate Sustainable Strategy
A successfully implemented corporate sustainability strategy positively impacts a company's reputation and brand image by embracing its responsibilities and actions for the environmental good.
By focusing attention on 'the Elements' identified above, organisations will acknowledge their importance and dedicate appropriate resources. The ongoing stakeholder engagement will keep the process honest and accountable to ever-higher standards.
Corporate deepening commitment to Sustainability, will satisfy a broader constituency, fulfils a larger mandate and contribute to the generation of wealth in new and better ways. Thus, sustainability heralds a new equilibrium for environmentally friendly promotional merchandise in the UK.
Be a part of Tiger Global, one of the renowned corporate social responsibility companies in the UK, that serves the community by incorporating the corporate sustainable strategy