The paper "Reflection on Why Businesses Should Be Concerned about Social and Environmental Sustainability" is a good example of business coursework. There is a lot of underlying relationship between contracting a business and social and environmental sustainability. Business is the day to day activity that people engage themselves in order to make life comfortable, therefore to achieve success, environmental and social sustainability is an important contributor. Several businesses have been concerned with social and environmental sustainability through Corporate Social Responsibility. Businesses have to be concerned with social and environmental sustainability since it an organization's mission and act as a lead to what the company stands for and what they will produce to their consumers.
Being concerned with social and environmental sustainability enables the businesses to have a built-in self-regulating mechanism in which business ensures and monitors its activities with the spirit of the ethical standards and international law, hence enabling the business to encourage a positive impact and to embrace responsibility for the company's actions through its activities on the environment, employees, stakeholders, consumers and the public. Moreover, the concern is important as a marketing strategy and a tool for the improvement of the organization’ s profit margins.
The environment in itself affects every facet of business performance since environmental degradation results in negative climatic changes, which threatens or destroy the ecosystem where the business depends on, thus losing its market. On the other hand, social responsibility is an important part of the wealth creation process which is integrated with environmental responsibility, if managed properly it should maximize the value of wealth creation to society and increase the competitiveness of the business. While businesses focus on generating profits, environmental sustainability is a vital necessity because for once multinational corporations who conduct businesses in more than one country are not running destructive and unethical practices like polluting the environment, which in turn leads to negative perception from the general public.
Businesses also have to be concerned with environmental and social responsibilities since there is a lot of pressure from non-governmental organizations, governments, civil society, and consumers for organizations to practice sustainable business. Environmentally and socially conscious businesses are more likely to have a positive corporate image, hence attracting customers and retain employees in order to maximize profits.
Furthermore, businesses would promote the public interest by encouraging the development and the community growth and as well as building business trust, which is a necessity for its organizational progression. The social responsibility aspect also allows the business to build a good relationship with the surrounding community, hence guaranteeing continuous and active trading. Community-based development always leads to more sustainable developments. A business needs healthy, sustainable resources, educated workforce, and the government to be able competes effectively. In order for a society to excel, competitive businesses and profitable approach should be developed and managed effectively in order to create income, tax revenues and wealth.
Companies have developed deep linkages between their business strategies and corporate social responsibility. They are focusing more on the opportunities for competitive advantage by emphasizing the costs and limitations of agreement with externally imposed social and environmental standards.
ReferenceRob, T. and Deirdre S. The Ethical Consumer. New York : SAGE, 2000.