BUSINESS AS UNUSUAL
The Role of the Industry in Achieving the Sustainable Development Goals
Model Based on Abe, M., & Franco, I (2017). Socially Responsible Business: A Model for a Sustainable Future. Bangkok: United Nations Economic and Social Commission for Asia and The Pacific.
The private sector is rapidly changing the role of businesses by developing inclusive corporate sustainability practices. In recent years there has been increasing focus on the need for a greater involvement in the industry towards building a more sustainable and inclusive business model which focuses on providing society with sustainable outcomes. Traditional business models are being replaced by sustainability agendas in which the private sector plays a key role in the achievement of overall sustainable development. In collaboration with the United Nations Economic and Social Commission for Asia-Pacific, this study proposes the refinement of a model to corporate sustainability. Adapted from the original Socially Responsible Business: Model for a Sustainable Future, the model enables firms to create value in a sustainable business ecosystem (UNESCAP, 2016; Abe and Franco, 2018).
By mainstreaming inclusive and sustainable business practices as an exemplary governing model for business conduct, a more positive risk culture, respectful for external stakeholders’ concerns, emerges (ESCAP, 2016). Based on background research on socially responsible business models (Abe and Franco, 2019), the proposed study seeks to refine the existing model and recommend ways to integrate it to the business strategy in selected industries in Australia and elsewhere. It is expected that such integration will reduce risks emerging from unexpected incidents caused by social tensions or environmental disasters in locations where the industry operates. Importantly, it will also recommend ways in which the model can also reduce a number of potential issues that may hamper corporations’ relationships with external stakeholders and their ability to expand business operations.
This study also aims to increase the knowledge of sustainability leaders in the private sector on sustainable business practices. This study will also propose business and policy recommendations on how to better engage with external stakeholders and integrate inclusive and sustainable practices into business operations of large, medium-sized and small enterprises in selected industries.
How to get involved?
Dr. Isabel B. Franco
E: email@example.com ; firstname.lastname@example.org