Sustainability and Natural Environment Assessment Answer

Introduction

In this reflective essay, I will go through my opinions and key takeaways from the 6th weekly readings of Chapters 15 and 16 on sustainability and the environment and business and community stakeholders, respectively. These chapters enlightened me on the critical part that businesses play in promoting sustainable practices and cultivating close bonds with their stakeholders.

To protect the environment, firms can implement sustainable practices, which are discussed in Chapter 15 of this book, “Business & Society: Ethics, Sustainability, and Stakeholder Management (Carroll & Brown, 2022)”. This chapter was enlightening to me since it made clear how important it is for companies to consider their environmental impact and implement sustainable practices into their daily operations. The physical and biological settings in which people, animals, and plants exist are referred to as the natural environment. Through their operations, businesses have a huge impact on the environment. Businesses' operations like resource extraction, manufacturing, and transportation exacerbate environmental problems including pollution, habitat loss, and climate change. Businesses must address these environmental problems and advance sustainability. However, this obligation can pose several difficulties for firms. To handle environmental and sustainability challenges, governments are essential (Carroll & Brown, 2022). They establish guidelines and requirements that companies must adhere to, which might lessen their adverse effects on the environment. The promotion of environmental sustainability also involves other environmental stakeholders including interest groups, employees, and investors. Corporate environmentalism is the notion that organizations can advance environmental sustainability and still accomplish economic objectives.

Building excellent relationships with a variety of stakeholders, including employees, customers, and communities, is discussed in detail in Chapter 16 (Carroll & Brown, 2022). This chapter piqued my interest especially because it underlined how important it is for companies to understand their impact on the community at large and act accordingly. Participating in the community can benefit a company's reputation and foster brand loyalty, which is one justification for doing so (Carroll & Brown, 2022). Businesses may demonstrate that they care about the local community and are not just concerned with making money by supporting community projects. Charitable contributions, staff volunteering, and collaborations with non-profit groups are a few examples of various community projects (Ahmed et al., 2021). For businesses, managing community stakeholders is crucial because it ensures that they are satisfying community requirements. Business philanthropy can be advantageous and disadvantageous. It can assist companies in achieving their goals for social responsibility. Corporate philanthropy today takes many different forms, such as financial donations to charities, staff volunteerism, and cause-related advertising (Ahmed et al., 2021). In addition to giving to national and international organizations, businesses also support their local communities. Businesses can participate in philanthropy in a variety of ways, including strategic philanthropy, cause-related marketing, and cause branding.

Conclusion

Growing environmental awareness and the desire for sustainable practices are expected to impact how businesses and the environment interact in the future. Companies must put sustainability and ethical behavior first if they want to be competitive and satisfy customers. Companies must think about how their actions may affect the neighborhood and take precautions to reduce any unfavorable effects in terms of offshoring, reshoring, and plant closures.

References

Ahmed, M., Mubarik, M. S., & Shahbaz, M. (2021). Factors affecting the outcome of corporate sustainability policy: A review paper. Environmental Science and Pollution Research, 28, 10335-10356. https://link.springer.com/article/10.1007/s11356-020-12143-7

Carroll, A. B., & Brown, J. (2022). Business & society: Ethics, sustainability & stakeholder management. Cengage Learning. https://books.google.com/books?hl=en&lr=&id=qC9lEAAAQBAJ&oi=fnd&pg=PP1&dq=business+and+society+carroll+&ots=T2RnIdCEnw&sig=myqIJFDb6i9YB8rdHxYthPVS9LY

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