Question

plz put the sources used and references thanks so much

Option 2: Sustainable Business Practices Define sustainability and discuss why it is important for companies. Is sustainability related only to environmental issues, or does it extend further for the decisions/policies of the business? In addition, how is sustainability related to other course concepts, such as corporate governance, corporate social responsibility, stakeholders, corporate culture, etc? Use two sources, and discuss at least two of these related course concepts.

Answer 1

Sustainability in reference to Business Practices and Organizations refers to the phenomena of existing in an Industry over long periods of time.

Existence of an organization over long periods of time can only be achieved if the vision of the organization believes in the holistic development of its stakeholders. A stakeholder is an organization or person that affects or is affected by, the corporation’s purpose which includes creditors, directors, environment, employees, government (and its agencies), owners (shareholders), suppliers, unions, and nearby communities.

Sustainability is often related to environmental issues but it covers a wide array of subjects. It extends to the concepts of Corporate Governance, Corporate Social Responsibility, Stakeholders, Corporate Culture, Goodwill, etc.

SOURCE 1: TATA GROUP

Link: https://www.tata.com/community

CONCEPT DISCUSSED: Corporate Social Responsibility

Discussion: Tata Steel is one of the biggest Steel Manufacturers in the world. Its operates mostly in India but is recognized globally for its "Strong Ethics and Values". The founding father Jamsetji Nusserwanji Tata always believed in the fact that " In a free enterprise, society is not just another stakeholder but the very existence of it ". His vision has been passed on to his successors with time. Educating the poor or empowering women or providing the best medical facilities to communities nearby its factories, TATA has always helped in vitalizing rural development and rural economy. TATA has helped in fostering Sports Culture in Rural India. After 2004 Tsunami in India Tata Group came up with TATA Swacch(A low-cost Filter) to help people affected by Tsunami get access to clean drinking water.

People working directly or indirectly with TATA Group are always indebted towards the Group and see the development of the company as their own.

This is one of the reasons TATA has grown exponentially over the years.

SOURCE 2: HDFC BANK

Link: https://www.hdfcbank.com/

CONCEPT DISCUSSED: CORPORATE CULTURE

Discussion: HDFC is an Indian banking and Financial Services Company. It is India's largest private sector lender by assets.

When the entire Indian Banking system was suffering from Bad loans and NPA issues, HDFC was the bank that had all these issues in check. HDFC Bank has always believed in nurturing "Good Asset Quality" over "Bottom Line Scores". Thus HDFC has always taken the issue of Asset Quality as its priority.

The Bank's shares have gone nowhere but up, which indicate shareholders trust in the company's fundamentals and corporate culture. This has created a sense of Trust in depositors and helped them keep their savings safe thereby making the organization sustainable in this competitive industry.

Thus sustainability is all about the way businesses create holistic environments for the growth and development of their respective stakeholders and the ways in which they keep doing so in the long run.