Question

Explain the importance of integrating corporate sustainability, corporate governance, and social responsibility principles in the decision-making process.

Answer 1

Corporate sustainability is an approach aiming to create long-term stakeholder value through the implementation of a business strategy that focuses on the ethical, social, environmental, cultural, and economic dimensions of doing business. Short-termism is the bane of sustainability.

Adopting sustainable practices not only helps the environment - corporations have proven that sustainability initiatives lead to an improved brand image, reduced costs, happier shareholders, increased productivity, and countless more benefits. Sustainability is here to stay.

Sustainability is important for many reasons including: Environmental Quality – In order to have healthy communities, we need clean air, natural resources, and a nontoxic environment. Healthcare –Sustainability and healthcare are intricately related since the quality of our environment affects public health.

Corporate governance is the combination of rules, processes or laws by which businesses are operated, regulated or controlled. The term encompasses the internal and external factors that affect the interests of a company's stakeholders, including shareholders, customers, suppliers, government regulators and management.

Corporate governance is the system by which companies are directed and managed. .Corporate governance ensures transparency which ensures strong and balance economic development. This is also ensures that the interest of all shareholders (Majority as well as minority shareholder) are safeguard.

the corporate social responsibility decision-making process within the

Lebanese business caucus. Inductively inspired from the literature and pre-conceptual

discussions with business leaders, a Seven Nodal CSR Decision-Making Model is conceived and

confirmed following a deductive approach based on a thematic analysis of semi-structured

interviews with Lebanese business leaders. The findings provide evidence confirming the Seven

Nodal CSR Decision-Making Model Further empirical research using this model would shed more

light on the phenomena. At the practical level, the paper attempts to provide business leaders

with a decision-oriented information and management tool, and to better inform policy making.

The theoretical originality of the Seven Nodal CSR Decision-Making Model adds to the value of

current research in the CSR area