Finding Success Through Corporate Sustainability

Abstract

Within the past few decades, growing international concerns including climate change, resource depletion, and human rights have resulted in a reaction from the global economy. This reaction entails a shift from firms maximizing profits with little consideration to externalities to firms that attempt to create a positive social image through being a responsible corporate citizen. These firms are recognizing that their long-term success is contingent upon the global systems that have been exploited for decades. This project shows that there does not need to be a tradeoff between investment in sustainability and short and long-run profitability. The author identified a number of key practices that facilitate business growth through the objectives of sustainable development. Among these practices include the incorporation of the Triple Bottom Line, commitment and vision from the leaders of firms, being proactive in the face of changing regulations and legislation, minimizing energy consumption, and several others. Additionally, this paper discusses the advantages large firms may hold over small firms in achieving profitability through sustainability. A major component of this portion is the implications of scale. The author found that this advantage of scale extended much further than the traditional economic principle and went so far as to include national and international political implications. In order to highlight these best practices and the advantages of scale, he included case studies that provide concrete examples of how these practices can lead to triple bottom line success while bringing the theories utilized to life.