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A Manager's Role in Triple Bottom Line: Global Compact and Responsible Value Creation
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Sustainable development-organizing an organization in a way that it can function in the long term-began gaining global attention in 1983 when the United Nations created the Brundtland Commission to offer various ways to save the human environment and natural resources and promote economic and social development. Corporate sustainability not only depends on the business's ability to function over a long period but also on sustainable relationships with stakeholders. This text offers a comprehensive perspective covering salient aspects of sustainable development with chapters contributed by experts from various countries. It provides guiding principles and tools for transformation and generates knowledge about sustainable organizational designs, sustainable business models, co-creating value with multiple stakeholders, and organizational transformation for sustainability. Written for students, faculty, researchers, professionals, and practitioners in the corporate world, this book will be a valuable resource in promoting sustainable development. Chapter 1 begins with offering a short history of the evolving social and moral expectations regarding business, including the Ten Principles of the United Nations Global Compact. Consensus thinking in the Ten Principles helps to clarify rather than solve controversies surrounding a manager's role in the triple bottom line. Nevertheless, there are challenges with the Ten Principles, and managers and businesses should develop new competencies to help themselves create the triple-bottom-line value. Managers should be prepared to manage both for the risks and rewarding opportunities in terms of people (the direct impact the corporation has on its employees), the planet (the responsibility companies have toward the environment), and profit (sustainable value creation). Each of these three categories is discussed in depth. Johansen's ten new leadership skills are also outlined.