What will be the next step for corporate responsibility and sustainability in the future?
After the last month, tragic happenings in the textile industry were several hundreds of people in Bangladesh lost his or her life due to the race to produce textile or fashion garment to the lowest price possible. Bangladesh’s workers who sew clothes for Western consumers are amongst the lowest paid in the industry anywhere in the world. It is about time to raise questions about business ethics, corporate responsibility and how companies work with a sustainable philosophy. The large corporation has a set of values they follow as their business ethics and guidelines for sustainability. Most of these companies produce sustainability reports, use measurement instruments to calculate the carbon footprint; products labeled as green, sustainable and Eco-friendly, most of these companies have done a lot to improve and lower their negative impact on nature, inspection of factories and education of workers. However, it does not seem to cause a change, why?
Re-think business philosophy
I guess the lack of understanding of what of lies within a sustainable philosophy, corporate ethics, and green thinking. The core of the basic values of business ethics and a sustainable approach are missing in traditional western philosophies, and that it is time to Re-thinking Environment and Development in the Twenty-first Century. The history of new philosophy of business developed in the 17th and 18th century. At that time, thinkers like Rousseau, Locke, Hobbes, Smith and Shaftesbury formed and the intellectual foundation of modern business and capitalism developed. During this time, terms as consumerism, consumer culture became a natural part of our vocabulary; however, all of these philosophies based money as criteria for what was a good value in the society. In the middle of 17th century, the moral philosopher and a pioneer of political economy Adam Smith developed the version of this general principle in which six psychological motives combine in everyone to produce the common good. He called it the invisible hand. In The Theory of Moral Sentiments, vol II; “by acting according to the dictates of our moral faculties, we necessarily pursue the most effective means for promoting the happiness of mankind. Nevertheless, what lies within good for the mankind, was it food, education or what was the value good based upon?
Modern business philosophy
Perhaps the best known modern philosopher of business is Peter Drucker; the development of his business terms based upon the most effective means of transacting commerce or managing the enterprise, with some goal in mind, usually profitability, improving employee relations, or marketing strategy and tactics; the marketing mix is the same; price, place, promotion and product. However, Drucker introduced new vocabularies as organizational behavior. Capitalism based a non-regulated trade where cost-effective, free market, advertising, distribution is dominating, and free competition created words as cost-effectiveness and maximize profits. Again, money is what considered good, even Drucker been coined to stand for a healthy balance.
The purpose of a business
Most people debate that the main purpose of a business is to maximize profits for its owners, or in the case of a publicly traded company, its stockholders, one of the late Economist Milton Friedman, was an exponent of this view. These business philosophies developed over those last centuries is only measured in money sequences. There is no such measurement for this economy as health care or food, however, what is totally missing is what Eco and sustainable core thinking are about? Sustainable philosophy core elements are an understanding of connected truth, awareness, and compassion. We do not have such measurements yet, nevertheless; this is where the future of corporate responsibility and sustainable thinking headed. A quote from sustainability start with basic values;
“The new economy is not marketed driven but nature value is driven. The solution is to continue sustainable development, the growth of new values based upon spiritual values were nature is setting the framework. This is happening as we speak and hopefully, economist knows that we have moved from an economy based on profit maximization into a nature-based economy.”Kenneth’s buddha Jeans
The achieving sustainability will enable the earth to continue supporting human life
Sustainability is the capacity to long-lasting and durability. In ecology, the word describes how biologic systems remain diverse and productive over time. Healthy wetland and Forest that maintained are examples of sustainable biological systems. For people, sustainability is the potential for long-term maintenance of wellbeing, which has managing of goods, cultural, ecological and economic dimensions.
This is exactly the opposite of what the old economy is standing for. Sustainability is, in fact, an enemy of capitalism as we see it in history. Companies of today lack the ability to understand the underlying values in sustainable philosophies as Eco awareness, compassion, and connection. A report might state that they saved 58 million liters of water; however, as the same persons why that is good or why they do it the answers will be almost certainly not because of compassion. The basic fundamental of sustainable values and guidelines lies in a deep philosophical transformation that hardly can be measured or name it as social sustainability. When companies start working with these values on an individual-level ability to take responsibility and similar actions will happen. However, this is a long way to go, nevertheless, the only way
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