Question

What is corprate soical sustainabitiy?

What is exmple of firms appling soical , enviromental, economic sustainabitiy and accountability?

Answer 1

Answer : Corporate social sustainability means that maintaining a good and healthy relationship with the stakeholders through implementation of business strategy that focuses on ethical, social and environmental dimensions on working of the business. It means to sustain for a long term stakeholders with an organisation in logical and systematic manner.

Examples of firms applying sustainability are Walmart, HUL that creates brand image, reduced cost , increased profit and to sustain shareholders of an organisation. Healthy and good relationship should be grown up between customers and firm as well as firm and stakeholder .These companies fulfilling social responsibility in a good manner.

Big industries dispose of there factory waste at there own outlet and maintain eco friendly environment has been created.

Economic sustainability means that donating some money and gaining logical sustain environment in an organisation. Example : Portor & Gamble donate ₹1 to the education of weaker society on product sold

Accountability means that true and fair view of balance sheet has been displayed in logical manner.Example : ITC firm organising meeting and discussion of financial statement in logical manner and dividend to the firm.