The important role that the private sector plays in social and economic development led the International Labour Conference to discuss the concept of sustainable enterprises in June 2007. The promotion of sustainable enterprises ensures that human, financial and natural resources are combined equitably. An environment conducive to the creation and growth of enterprises on a sustainable basis must take into account the three dimensions of sustainable development – economic, social and environmental – as interdependent and mutually reinforcing pillars.
The 2007 International Labour Conference adopted conclusions for the promotion of sustainable enterprises and identified 17 conditions for an enabling environment. An environment conducive to the creation and growth of sustainable enterprises combines the legitimate quest for profit with the need for development that respects human dignity, environmental sustainability and decent work.
The same conclusions invite the ILO to focus its interventions on practical responses, including tools, methodologies and knowledge sharing, which are relevant to the social partners in their activities. This is why the ILO has developed a methodology to assess the degree to which the 17 conditions for an enabling environment for sustainable enterprises are met in different countries. This report describes the implementation of such an assessment in Lesotho and is part of a series of country reports on the same topic. As a pilot initiative, the Lesotho assessment includes a component on multinational enterprises (MNE). The report covers the political, economic, social, and environmental situation of the enabling business environment in Lesotho. The political area comprises 4 of the 17 conditions, the ec...
... middle of paper ...
...ho, notably for the “Environmental Sustainability Index” and the “Environment Performance Index”. Furthermore, it is sometimes difficult to identify appropriate indicators to measure specific EESE conditions, as in the case of “entrepreneurial culture” where only two indicators have been identified, and only one of which has data on Lesotho. Primary data also presents some limitations. As with any perception survey, caution is needed in drawing general conclusions, since some questions may have been interpreted in different ways, and key notions used in questions may have been given alternative meanings by respondents. To overcome these and other limitations, information from available national and international literature, and from the focus group discussions with national stakeholders and with national tripartite participants during technical workshops was used.
Wheelen, T. L., & Hunger, J. D. (2010). In Concepts in Strategic Management and Business Policy Achieving Sustainability, Twelfth Edition. Pearson Education.
...success overnight. The structure of the current business environment is influenced by the characteristics of the market, which determine the behaviour of firms within the market. This behaviour includes the extent to which firms compete on price, innovation and how much they focus on dealing with day-to-day market challenges. For environmental factors all firms will be seen as acting ethically. We still have a business culture based around short-term financial success, in terms of quick profits. All businesses in the world face the same problem. They have limited or finite resources, firms simply don’t have enough resources at their disposal to satisfy all their needs. This means management choices must be made, whereby decisions are needed to select how to allocate scarce resources amongst a range of competing uses thrown up by the changing business environment.
The emergence of the ‘triple bottom line’ (TBL) concept by John Elkington during the mid-1990s, in the pursuit of measuring sustainability of organisations in an innovative dimension, went beyond the outmoded measures of profits and shareholders’ wealth. It is carried out by adding on ‘social’ and ‘environmental’ as two more ‘bottom lines’ in the performance measurement framework (Slaper & Hall 2011). According to University of Wisconsin (n.d.), genuine sustainability requires organisations to strike a balance among social development by taking into account of people’s needs, protection of natural environment, considerate use of natural resources, and steady economic growth.
This paper reviews complex challenges facing the world and business leaders today. It describes how the worlds pressing problems can be resolved in other to make the environment a more sustainable place. Maak and Pless (2009) claims that it takes a responsible, global and cosmopolitan mindset to improve the values of humanity on a global scale. This is to say that the world needs a global leader that can be depended upon by taking responsibilities for the pressing problems arising in the external society. However, (Thompson 2010) claims that the world needs a leader whose attitude is open to widely alternative views and values, able to integrate long-term considerations and a broad selection of stakeholder’s interests into its strategic choices which is based on a stable and transparent “moral compass” which helps to manage moral challenges.
Sustainability grows into a collective tenure in commercial morals, environs and is extensively used by the administrations, businesses, advisers etc. In recent times the conception of sustainability is widened,nowadays it not only comprisesecologicaldeliberation but also monetary and communityconcern. (Elkington, 1998).
Sustainable development defined by Sustainable Development Measurement index (N.d.) as “sustainable development refers to social, economic, and environmental development that meets the needs of current society without compromising or limiting future development and growth” (Cantor, 2001). In short, the theoretical approach on sustainability contains three essential elements, which are social, economic and environmental development. In order to achieve sustainable development, nations are needed to balance between the economic development, environmental protection and social consensus. However, in recent years, numerous ecological damages brought by economic and industrial activities and led to disputes among the society. The growth of the human
Stuart Hart, in a business article, discusses the tough task for companies to make a sustainable global ec...
In the case study I am asked the major differences between public and private sector labor relations. Throughout my research I will use the text along with outside sources to help in finding the significant differences between the two. Furthermore as outlined in the text of (Holley, Jennings, & Wolters, 2012) have indicated some of the major differences between public and private sector including the market economy such as the relationship between the budget and the bargaining process, employee rights and obligations, and collective bargaining structures and decision making processes. Furthermore, we must consider the differences within dispute resolution between private and public sector labor relations.
7). Their definition was as follows: “ It is in the hands of humanity to make development sustainable… to meet the needs and aspirations of the present without compromising the ability of future generations to meet their own. (SHRM, 2011, p. 7).” Sustainability is the organization’s commitment to balance financial performance with contributors to the quality of life of employees, society at large, and environmentally sensitive initiatives (SHRM, 2011, p. 2). Workplace sustainability requires observation of the following: work force diversity, environmental impact, bribery and corruption, community involvement, ethical sourcing of goods, human rights, product safety, and product usefulness (Epstein & Roy, 2001, p. 588). Creation of a stable, sustainability culture can support the company’s efforts to reach its long term goals; however, sustainable practices are more often found in medium and large staff-sized organizations, publicly and for-profit companies and multinational companies (SHRM, 2011, p.
Sustainability is about the planet- healthy relation among people, profit and planet. Individual effort to earn money by business activity in the earth should be harmless to environment where it operates and beneficial to the people surviving in that society.
Simply put the informal economy refers to those economic activities that are neither taxed nor monitored by a government and are therefore not included in that government's Gross National Product (GNP) However in literature this phenomenon is discussed using different concepts such as informal, unofficial, irregular, parallel second underground, underground, grey markets, subterranean, hidden, invisible, unrecorded, shadow, ghosting and moonlighting. Illegal or criminal activities such as drug dealing or prostitution have been excluded from this definition, as have exchanges of unpaid work. My paper is therefore prepared with this omission in mind.
The Role of the Informal Sector in the National Economy MOZAMBIQUE Introduction = == == == ==
Stefan Schaltegger & Marcus Wagner “SUSTAINABLE ENTREPRENEURSHIP AND SUSTAINABILITY INNOVATION: CATEGORIES AND INTERACTIONS”. Downloaded from http://www.bwl.uni-
Business sustainability consists of three components, these are: social, economic and environmental. The business has to consider these three components as the business must make a maximized profit (economic) but must not in any way damage the environment in the long term (environmental). The business must also take care of social issue and people and communities as they are support the business.
‘Development that meets the needs of the present with the ability for the future generation to meet their own needs.’ (World Commission on Environment and Development, 1987) Sustainable development requires three key components: economy, society and environment, sustainable development can be success through striking balance in those factors. These three components are indispensible, they compel to depend on each other. On the other words, we can only gain a decent and energetic environment and society if the economy is strong with a healthy a stable growth rate.