Sustainability in Australian Business: principles and practice

Abstract

Sustainability is moving from the margins of business thinking and practice to the centre. Key factors and major global issues transforming the business environment include renewable energy requirements, climate change, Asian sweatshops, patterns of international poverty, indigenous rights, and the introduction by governments of carbon taxes or emissions trading schemes. A new paradigm of business — sustainable business — is emerging: that is, organisations having to accept a wider responsibility for both environmental and social wellbeing. At the same time, the notion of sustainable business also offers organisations the potential for enhanced business value: better management of risk and new market opportunities. Businesses that adopt sustainability principles and practices can strategically position themselves for market leadership in this new environment. This text outlines the key principles and practice of sustainable business, presenting a challenging and stimulating view of contemporary business for university studies. It provides both aspiring and current managers with a detailed insight into how sustainability principles can be applied in core business areas such as accounting, finance, marketing and production. It is a guide to business in the sustainability age.

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