Responsible Management and Sustainable Economic Development

Abstract

Sustainable business development and responsible management are the latest topics in Management Science. For a business entity, sustainable development means incorporating business strategies that meet its needs and its stakeholders of present, while sufficing and sustaining the human and natural resources that will be needed in the future.

Sustainable development has three broad goals: environmental stewardship, social accountability and economic affluence for both: the organization and its stakeholders. In a fruitful sustainability oriented business plan, the three goals will be inter-linked with each other.

The need for discussion on this topic has cropped up due to increased ecological and social pressures and inculcating sustainable development; as a conception, any entity requires a complete business reengineering.

Sustainable development is a difficult subject to pin down since it encompasses so many different things. Due to the complexity of this subject, it is important to look at the importance of sustainable development in a holistic way that approaches the issue rationally.