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Essay / Globally Sustainable Organization Essay - 1541
IntroductionA globally sustainable organization has the capacity to meet the needs of the present without compromising the ability of future generations to meet their needs. Organizations are increasingly concerned about sustainability and corporate social responsibility. A sustainable organization always values economic, social and environmental benefits when doing business. Instead of seeking only economic outcomes such as profits and shareholder returns, global companies must seek a balanced set of "triple bottom lines", which include economic, social and environmental performance, and satisfy the demands of all stakeholders. stakeholder groups. A stakeholder is a person who depends on or is affected by formal (rules and regulations) and informal organizational institutions that demand greater environmental and social responsibility from businesses. As a result, sustainability has become a key objective for multinational companies as it enables companies to achieve better organizational performance. One of the functions of human resource management (HRM) is to assist in the creation and implementation of a sustainability strategy in a variety of ways. Human resources (HR) ensures that employees of a global company implement strategy consistently across the world. Sustainable human resource management uses various methods and tools to create a global workforce that trusts the organization and its strategies towards global sustainability. They ensure that employees have sufficient skills and values to implement sustainability initiatives, and that they are properly motivated to achieve the triple bottom line. Human resources can impact corporate social responsibility and the triple bottom line in different ways. Some of these include appropriate recruitment strategies, training and development of sustainable practices and strategies, motivating employees, offering attractive remuneration, conducting performance reviews, maintaining a good job. Corporate social responsibility (CSR) is the consideration and response to problems beyond the narrow economic framework. The technical and legal requirements of the company to obtain social benefits as well as the traditional economic gains sought by the company. (Peng, 2012). According to the World Business Council for Sustainable Development (WBCSD, 1999), CSR is an organization's commitment to discretionary behavior that leads to economic development and contributes to the well-being of its employees, the local community and society as a whole. (Ilona, Kazlauskaite, 2011). Corporate social responsibility (CSR) has become very important as it has become a strategic issue that affects different departments of a company. It also affects the overall business process as a whole. Many organizations have revisited and redefined their core values to add corporate social responsibility. The infographic below outlines some of the key areas where HR can impact CSR efforts and the organization's triple bottom line. The Y axis of the chart represents meeting stakeholder needs and the X axis represents actions that HR can contribute to and influence the success of a sustainable business. (Cohen, Taylor, Camen, 2015). fig