The analysis of social and environmental sustainability against financial sustainability - Essay Example

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The global business firms are often faced with challenges where they need to balance between the social and environmental concerns and their financial goals. On one hand, the firms need to achieve their financial objectives and meet the stakeholders’ interests by generating…
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The analysis of social and environmental sustainability against financial sustainability
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Download file to see previous pages This paper is focused on how the social and environmental sustainability differ from the financial sustainability and its impact on the way a company operates. It covers the challenges faced by the corporate firms to resolve the differences and the future implications of the reconciliation. The paper covers the details of the topic of discussion with real life example of corporate firms and it also discusses the theoretical framework in which the models of sustainability are based on.
The social and environmental sustainability is to ensure that the society and its environment are not being affected by the business operations of the organizations. In order to achieve social and environmental sustainability, the company needs to make sure that all of its operations are following the required environmental standards and are adding value for the society. According to the reports of Colantonio (2009), there should be equal priority given to the social, environmental and economic sustainability. It has been mentioned that the social sustainability is one of the emerging issues of the contemporary business environment. With the increase in competitiveness in the business market along with the rise in population and decreasing natural resources, it has become imperative for the organizations to deal with certain sociological issues. Widok (2009) have mentioned that apart from the social and environmental sustainability challenges faced by the firms, they also face challenges on the grounds of reporting on sustainability. It has been mentioned in his studies that reporting on sustainability activities has always been superficial in nature.
Even though several organizations report that they conform to the standardized norms of the globally accepted sustainability practices, but the lack of detailed reporting has made them more lenient in its implementation. Moreover, ...Download file to see next pagesRead More
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