September 14, 2016
ESRM 320: Marketing + Management from a Sustainability Perspective
In ESRM 320, we explore two of the four primary business dimensions: marketing and human resource management. Marketing refers to promoting, pricing, and distributing new and existing products and services that are aimed at satisfying consumers’ wants, needs, and objectives. Human resource management refers to developing, managing, and motivating human capital and resources. Sustainability refers to integrating environmental, social, and financial elements in order to meet the needs of people today without compromising Earth’s capacity to provide for future generations. Integrating these three is called the triple bottom line. In business, the bottom line refers to net income or profits because it is the last (i.e., bottom) line in a company’s income statement; profits are essential because a business is unsustainable without them. Sustaining the planet over the long term depends not on one but all three bottom lines.
We will explore the meaning and importance of sustainable business practices that respect and adhere to best environmental science methods and ethical social responsibility standards. The context for this exploration will be assessing data in corporate sustainability reports. Companies that trade on U.S. stock exchanges are required by law to report financial performance, but no laws exist for reporting social responsibility and environmental performance. However, in response to stakeholders many corporations voluntarily issue annual sustainability reports that provide information on the company’s environmental and social responsibility practices and performance.
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