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Ethical perspective on sustainable business practices

conference contribution
posted on 2009-01-01, 00:00 authored by G Svensson, Greg WoodGreg Wood, Michael CallaghanMichael Callaghan
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.

History

Event

Academy of Marketing Science. Conference (2009 : Baltimore, Maryland)

Publisher

Academy of Marketing Science

Location

Baltimore, Maryland

Place of publication

Coral Gables, Fla.

Start date

2009-05-20

End date

2009-05-23

ISSN

0149-7421

ISBN-10

0939783290

Language

eng

Publication classification

E3 Extract of paper

Copyright notice

2009, AMS

Editor/Contributor(s)

L Robinson

Title of proceedings

AMS 2009 : Developments in marketing science : annual conference of the Academy of Marketing Science

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