Sustainability: ethical challenges for 21st century business

Sustainability:Ethical Challengesfor 21st Century Business

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OverviewWhat is sustainability?How are sustainability & business ethics related?What can sustainability do for business?Why dont all businesses embrace sustainability?When will businesses grow sustainably?

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What is sustainability?Everything people need to survive and flourish depends on our natural environmentSustainability maintains harmony between people and natureSustainability fulfills peoples economic, social and other needs

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How are sustainability and business ethics related?Unfettered capitalism devours natural resources, broadens socio-economic dividesExisting legal frameworks, globalized market forces cannot mend these riftsBusinesses can no longer ignore environmental impact for increased profits

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What can sustainabilitydo for business?Terror attacks sometimes result from Western companies disregarding peoples welfare

Business strengthens its license to operate by protecting the environmentSustainable practices value customers well-being; improve brand loyalty

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Why dont all businessesembrace sustainability?Complexity of putting practices to workCompeting strategic prioritiesVarious other reasons: Lack of recognition from financial markets Differing ideas of what social responsibility is Challenges of engaging with external groups

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When will businessesgrow sustainably?Around the world, some businesses already embrace sustainabilityUnited Nations Global Compact shows promise through international collaborationConsumers ultimately determine tipping points for sustainabilitySource: UN Global Compact-Accenture CEO Study 2010

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