Journal Article 2

Key Word: Economies of scale

Definition

“Sustainability can be defined as “the ability to be maintained at a certain rate or level” or more

specifically in an environmental context, as “avoidance of the depletion of natural resources to

maintain an ecological balance”

Summary

Corporations often conform to societal norms, unless doing so would be excessively

wasteful. Companies are becoming increasingly more conscious of the need for ethical business

conduct in order to engage in sustainable operations, along with the need for CSR and policy

frameworks that adhere to this ethic. The organizations needed to find a way to reconcile the

tension between acting as they would in a universe with infinite resources and acting as they do

in a universe with finite resources. Even while it is reasonable to anticipate ethical standards,

current trends appear to be primarily focused on CSR initiatives, leaving the subject of ethics in a

less frequented area of enterprises. Only when there are significant, obvious departures from the

norm does it become obvious. However, an increasing number of businesses are prepared to take

on demonstrating social responsibility, moral behavior, open management, and ecologically

sustainable development. To do this, businesses must formally assess the impact of their policies,

practices, and actions on society and CSR. The ethics around keeping social and environmental

obligations are the main factors for organizations to voluntarily opt to participate in RSC

activities. Businesses' commitment to fostering sustainable economic growth, improving

relations with their staff, and working with others and the local community to improve lifestyle

are further arguments for taking part in CSR activities. These variables affect both the

organization's long-term growth and its commercial success (Harris, Calvin, 2022).

Discussion

In business sustainability, long-term growth using sustainable techniques takes

precedence over short-term gains. Businesses that implement a corporate sustainability strategy

commit to properly managing natural resources, future investment for the planet's long-term

well-being, and making sure that everyone engaged in the business process is treated fairly.

Future dedication to sustainability takes primacy in this internal organizational path as the

foundation of basic moral principles that may lead to a future dedication to sustainability. As a

result, the dedication to the future and current generations may translate into more specialized

projects addressing the interests and expectations of certain stakeholder groups, such as

environment and social responsibility. The function of sustainability at a corporate level is

provided by a beneficial influence on society as well as a beneficial impact, and the growth of

the activity has an impact on the environment.

The function of sustainability is to prevent nature from being used as an unlimited

resource while also assuring its conservation and reasonable use. environmental preservation,

investments in renewable energy, water conservation, and the promotion of sustainable

transportation at several levels. On a social level, the function of sustainability is to promote the

growth of the local communities where the group operates to achieve a decent quality of life and

development that is reciprocal in nature (Carmen-Florentina, P., 2021).

Sustainability encourages equitable development, which helps everyone touched by the activity's

development while never negatively impacting the environment. Investments and equal

economic resource distribution reinforce the organization's other sustainability pillars, ensuring

long-term success. Organizations must manage their interactions with a diverse variety of

stakeholders in order to achieve economic development while protecting the environment and

building social cohesion. Long-term growth necessitates that the organization meet economic,

ecological, social, and environmental goals. There is a rising interest in the study of social

responsibility's involvement in corporate world performance in both the business and research

sectors (Vărzaru, 2021).

Sustainable development is a new idea that is based on three major macroeconomic

factors: environmental preservation, social and economic development, and microeconomic

features such as sustainability, social responsibility, and total corporate performance. Sustainable

development and corporate social responsibility are generally researched together in the specialty

literature since sustainable development comprises the three pillars: environmental preservation,

social responsibility, and economic development. The instances are also studied in the context of

globalization, which has resulted in various wealth disparities, environmental damage, and

unlawful labor practices, all of which point to anomalies in the economic growth process. In

these circumstances, corporate social responsibility is viewed as the requirement to remedy these

inconsistencies to preserve long-term development.

 References

Harris, Calvin, Jr,C.P.A.(M.D.). (2022). Embedding Sustainability into Practice: Certified Public

Accountant. The CPA Journal, 92(7), 5.

https://www.proquest.com/scholarly-journals/embedding-sustainability-into-practice/docview/

2708410303/se-2

Carmen-Florentina, P. (2021). THE BUSINESS ETHICS - SUSTAINABILITY - CORPORATE

SOCIAL RESPONSIBILITY TRIPTYCH. Annals of the University of

Petroşani.Economics, 21(2), 57-66. https://www.proquest.com/scholarly-journals/business-

ethics-sustainability-corporate-social/docview/2681902752/se-2

Vărzaru, A. A., Bocean, C. G., & Nicolescu, M. M. (2021). Rethinking Corporate Responsibility and

Sustainability in Light of Economic Performance. Sustainability, 13(5), 2660.

https://doi.org/10.3390/su13052660