Ethical perspective on sustainable business practices

Svensson, Göran, Wood, Greg and Callaghan, Michael 2009, Ethical perspective on sustainable business practices, in AMS 2009 : Developments in marketing science : annual conference of the Academy of Marketing Science, Academy of Marketing Science, Coral Gables, Fla..

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Title Ethical perspective on sustainable business practices
Author(s) Svensson, Göran
Wood, Greg
Callaghan, MichaelORCID iD for Callaghan, Michael
Conference name Academy of Marketing Science. Conference (2009 : Baltimore, Maryland)
Conference location Baltimore, Maryland
Conference dates 20-23 May 2009
Title of proceedings AMS 2009 : Developments in marketing science : annual conference of the Academy of Marketing Science
Editor(s) Robinson, Leroy Jr.
Publication date 2009
Conference series Academy of Marketing Science Conference
Publisher Academy of Marketing Science
Place of publication Coral Gables, Fla.
Summary This paper considers contemporary business practice and its sustainable performance from the view of stakeholder value. Stakeholder value is a broad concept and implies that a company has responsibilities and commitments to many different internal and external stakeholders in the marketplace and society, not only to its investors and the owners of the company, but also to its employees, customers, suppliers, societies and the environment. This view underlines the need for organisations to, not only provide value, but do so in a sustainable and socially responsible manner.

In considering the stakeholder value perspective of contemporary business practice, the authors proffer that undertaking an ethical perspective in corporate business practices will result in long term sustainable and socially responsible performance that delivers superior stakeholder value. In order to operationalise this concept a model is developed based on five, separate but interconnected, elements: (i) Foundation, (ii) Communication, (iii) Guidance, (iv) Outcome, and (v) Reconnection. The authors emphasise that the model is iterative and acknowledge its elementary state, suggesting further development and refinement in the field of sustainable business practices from an ethical perspective.
ISBN 0939783290
ISSN 0149-7421
Language eng
Field of Research 220102 Business Ethics
Socio Economic Objective 950402 Business Ethics
HERDC Research category E3 Extract of paper
HERDC collection year 2009
Copyright notice ©2009, AMS
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