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Corporate Responsibility and Sustainable development : Tobacco industry - Essay Example

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This is to meet the requirements of the present generation as well as ensuring that there is compromising with regards to the abilities of the generations to come. Organisations have been…
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Corporate Responsibility and Sustainable development : Tobacco industry
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Corporate Responsibility and Sustainable development : Tobacco industry

At the same time they also increasingly have to apply principles of sustainability to the way they have been operating their business. Sustainability is said to be those activities of an organisation which are typically voluntary in nature and also demonstrates its concerns for the social and environmental issues which are related to its business operations and also its interactions with the stakeholders (D’Amato, Henderson & Florence, 2009, p.1). In the globalising world, sustainable development actively promotes accountability and corporate responsibility. This includes both the inclusion and implementation of intergovernmental measures and agreements, public private partnerships, international initiatives, effective national regulations and continuously supporting the continuous improvement of corporate practices (Tully, 2007, p.374). There is a certain link between corporate responsibility and sustainable development. Sustainability has emerged as being one of the most critical actions principles among the different responsibities of a company. An organisation can only be regarded as a responsible one if it seen to follow the principles of sustainable development (Salina & Salina, 2007, p.187).
Companies are required to operate within a well defined legal framework, and complying with the law is amongst the most important responsibilities. Apart from this there are certain hindrances to the regulations and the business which should be kept minimised as much as possible (Salina & Salina, 2007, p.187). Recently, much debate has increased with regards to the diminishing scope from sustainable development to economic competitiveness. However, the focus remains concentrated and committed to the corporate responsibility of companies (Lenssen, 2006, p.324). However, it must be understood that it not just about obeying the law. It implies a business in which organisations must ... Read More
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