Corporate Sustainability: Fierce Urgency of Now!
Seidman College of Business
Confronted with the prospects of non-availability of fossil fuel within a foreseeable future, severe scarcity of natural resources in the offing, an increasing frequency of natural calamities as a result of global weirding (a term coined by Tom Friedman) and the worst economic downturn in nearly a century, the businesses are scrambling to find new and effective competitive paradigms that will enable their survival and growth. Corporate sustainability (CS) or Triple Bottom Line (TBL) is exactly such a paradigm. Businesses competing on CS or TBL consider not just the profits but people and planet also as the stakes they are vested in. There is growing evidence that CS/TBL has become a strategic and financial imperative for the businesses to effectively compete, survive, and flourish. CS is no more a philanthropic pursuit; indeed, it is synergistic with profits. An Accenture (2010) survey of 766 Global Compact CEOs drawn from 100 countries shows that 93% viewed sustainability as a compelling source of growth and strategic success. In this talk, I will discuss the state of CS/TBL globally, demonstrate the need for Indian executives to adopt such strategies without further ado, and elaborate on how the academia is enabling the necessary transformation and what more could they do.
9th AIMS International Conference on Management
Kumar, Ashok, "Corporate Sustainability: Fierce Urgency of Now!" (2011). Faculty Scholarly Dissemination Grants. 380.