Sustainability in organisations is not just about addressing social responsibility or meeting triple bottom line criteria to maximise shareholders' short-term interests. This paper proposes that sustainability can only be created when business leaders transform the way they currently think, challenge economic myths, and adopt a systematic and holistic view. This will generate a philosophy of leadership that embraces a set of sustainable values and principles. Sustainable practices will become embedded in corporate strategies, balancing hard and soft goals for the long-term interests of multiple stakeholders. To execute such sustainable strategies well demands a culture of enrichment, trust, shared values, professionalism and collegiality, learning, innovation and communitarianism. Sustainability in organisations is created when all three components - leadership, corporate strategies and culture - reinforce each other for the long-term benefit of multiple stakeholders.
|Title of host publication||Socially responsible and sustainable business around the globe|
|Subtitle of host publication||the new age of corporate social responsibility|
|Editors||Jonathan H Westover|
|Place of Publication||Champaign, Ill.|
|Publisher||Common Ground Publishing|
|Number of pages||11|
|Publication status||Published - 2013|