Contemporary Sustainability Strategies: How corporate responsibility can lead to financial profit and competitive advantages

Executive Summary
Sustainable, socially responsible corporate programs and tactics are becoming more widespread in professional practice due to increased regulations, scrutiny from Non Government Organizations (NGOs), and a more vigilant and informed customer base. As a result, many firms often have hesitantly embraced sustainable initiatives, largely due in part to an effort to receive positive public recognition and to avoid still penalties.

Background of issues
Organizational development strategies are changing during current business climates. Business has become more complex, more demanding, and operating speeds have increased, therefore business decisions must be more accurate, timely, and provide competitive advantages. Also businesses have been charged with the challenge of making decisions that are socially and environmentally friendly, which further complicates resources constraints.

Key theories
The key theory approached on the article is sustainability, the entire set of principles, concepts, and strategies that ultimately aim to produce a competitive advantage for the firm, while producing environmentally and socially responsible results for the greater community, and all of the firm’s stakeholders.

Details
Some researchers have indicated that business professionals should abandon the pursuit of financial profits as the sole purpose of their operations, and place environmental decision making at the center of their business. However, true sustainability considers the best interest of all stakeholders, which would include shareholders, investors, and employees. So abandoning profits would not be fiscally responsible to some of the firm’s most valuable stakeholders. As a result abandoning profits and focusing