Toward Sustainable organizations for the 21st Century

Toward Sustainable organizations for the 21st Century

The pursuit of sustainable development and the requirement to make our societies, economies, and systems of enjoyment and production more environmentally, socially, and frugalally sustainable will be the dominant challenge for management throughout the 21st century. come to about the social and environmental impacts of business activity butt be traced back throughout history. The use of regulation to situate the social and environmental impacts of business and to punish transgressors can be traced back more than 3,000 years to ancient Mesopotamia. More recently, a central business theme during the 20th century was the festering expectation that businesses should go beyond regulatory compliance in conducting their affairs to demonstrate corporate social responsibility.

During the 20th century, economic expansion was underpinned by two key elements.



Philosophically, it was guided by a mind-set strongly grow in neoclassical economics, which

1. tended to assume that the physical resources of the planet were straight-out and would not constrain growth;

2. did not recognize that there may be limits to the planets ability to absorb waste and pollution;

3. equated an expansion in economic activity, commonly measured as the total quantity of goods and services consumed in terms of gross domestic product (GDP), with concepts such as progress and development; and

4. treated many social and environmental be as externalities, which meant that the costs of repairing environmental or social damage associated with producing or down particular products were not reflected in the cost structures of producers or the prices that consumers in the end paid. In theory, such externalities should be covered through the taxes raised(a) from consumers and producers (among others) by governments. In practice, however, the voting preferences of consumers and the lobbying power of businesses have ordinarily deterred governments from raising sufficient taxes to fully cover the unmet costs of economic activity.

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