Introduction to Sustainable Business
Completion requirements
This chapter will introduce you to how businesses are increasingly acting with concern for the environment and society. Read Chapter 1 to see how companies can play a positive role in sustainability, follow legal and regulatory concerns, lower costs and increase profits, and achieve competitive advantages in the marketplace.
How can businesses play a positive role in helping to solve environmental and social problems? What are some examples of sustainable business practices? What does the term "triple bottom line" mean?
1.5 The Business Case for Sustainability
Exercises
- Do you agree with Milton Friedman's profit-driven philosophy that the purpose of business is to earn a profit and that should be the sole focus of business, with government being responsible for social and environmental issues? Why or why not?
- Search the web for an article that provides an example of a business that implemented a social or environmental practice that had negative economic impact on the company. Search the web for an article that provides an example of the business that implemented a social environment of practice that had a positive economic impact on the company. Why do you feel the company with a practice that has a negative impact on the company experienced that result? Based on these two articles, do you think that companies should be concerned with sustainability?
- It can be challenging to think of operating a business with a systems perspective. Think of one example of a sustainability practice that incorporates elements of a systems perspective. Describe the internal and external environment and the linkages between the two and what healthy practices meet the criteria of being considered sustainable.