Sustainable Business Challenge Greater than Global Finance
Professor Gillian Sullivan Mort considers "Sustainable Business" is the most pressing intellectual and practical challenge facing world business, surpassing even global financial issues. Writing as the Special Issue Editor on "Sustainable Business" in the prestigious Journal of World Business she identifies substantial cause for optimism that global leadership will cooperate to set the frameworks within which sustainable business can proceed from an aspiration to a pragmatic, achievable, default setting for business within the next 10 years.
For this to be accomplished she writes that we will need to rapidly address many of the fundamental assumptions underlying business and move our philosophical stance, economic analyses, accounting principles, marketing agendas and business education models and more to address the new demands. In her article ‘Sustainability of Non-profit Organizations: An Empirical Investigation’’, co-authored with Dr Jay Weerawardena, University of Queensland, Australia and Associate Professor Bob McDonald Texas Tech, USA the findings suggest that sustainability in terms of continuity of purpose and commitment to stakeholders is central to success of nonprofit organizations and many for-profit businesses would benefit from studying approaches to sustainability in the nonproft sector.
The papers in the Special Issue provide a broad array of approaches by international scholars from a number of sub-disciplines assisting in moving towards the goal of Sustainable Business.
Other papers include ‘‘Environmental Practices in the Wine Industry: An Empirical Application of the Theory of Reasoned Action and Stakeholder Theory in the United States and New Zealand’’, R. Scott Marshall, Portland State University, USA, Michele E. M. Akoorie, University of Waikato, New Zealand, Ralph Hamann, University of Cape Town, South Africa and Paresha Sinha, University of Waikato, New Zealand which will be of great interest given the prominent wine industry in Victoria while the article ‘‘Sustainability Accounting for Companies: Catchphrase or Decision Support for Business Leaders?’’ by Stefan Schaltegger, Leuphana University, Germany and Roger L. Burritt, University of South Australia, Australia provides a stimulating discussion of accounting issues.