The application of the stakeholder model to a sustainable business
A stakeholder’s model system is one where the decisions made by a company are evaluated according to the people whom it is going to affect. The move is that all parties affected by a decision should be evaluated. It is an ethical way of conducting business where decisions are responsive to internal customers, employees, and external customers. Toyota motor limited is an international company that has embraced the stakeholder’s model in its operations. The company aims at paying its employees highly, pays its creditors in time, and have corporate social responsibilities that it undertakes for society. These corporate responsibilities include environmental conservation, reducing carbon emissions, and education scholarships.
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The local and global concept of sustainable business practice
Sustainable development is when a company adopts appropriate technology in its processes to enhance efficiency in its production cycle. The practice aims to ensure that resources are utilized effectively without limiting future generation enjoyment of the same resources.
Locally the government has put on measures which ensure that the environment is protected by industries. It is in limiting the level of carbon emissions and taxing any emission. It is towards a “green” production.
Internationally, there are conventionally made to protect the environment against human activities. These conventions include the Kyoto protocol. An organization has no option other than undertaking its processes in an environmentally friendly way.