Foundations of Sustainable Business, 3ed (An Indian Adaptation)
Description
Foundations of Sustainable Business: Theory, Function, and Strategy, 3rd edition, offers a comprehensive introduction to the social and environmental challenges shaping today's business landscape. This text guides aspiring leaders through the practical application of sustainability in areas such as leadership, finance, marketing, and operations and supply chain management. It serves as an ideal primary or supplementary resource for business courses at all levels, as well as a valuable guide for professionals and executives seeking an accessible, insightful foundation in sustainability practices relevant to modern organizations.
This Indian adaptation enhances learning with new, India-focused case studies on sustainability in companies like Tata, Mahindra Lifespaces, ITC, Hero Motocorp, Flipkart, Infosys, and Dabur. Chapters now reflect contemporary themes—legal frameworks, finance, marketing, supply chain, and more—while aligning global concepts with Indian realities. The updates empower readers to critically explore sustainability as both a global necessity and a local driver of innovation, preparing the next generation of leaders to balance profit with purpose and responsible growth.
Table of Contents
1 Introduction to Sustainable Business
Sustainable Companies Gain the Upper Hand
1.1 What Do We Mean by “Sustainability”?
1.1.1 Sustainability Is a Loaded Word
1.1.2 Running Out of Space
1.1.3 The New Global Trend: Doing Less Bad and More Good
1.1.4 The Unsustainable Status Quo: Fisheries
1.2 Causes and Consensus Around Sustainable Business
1.2.1 What Do Externalities Have to Do with It?
1.2.2 Shareholder Pressure
1.2.3 Multiple Drivers, One Destination
1.2.4 Baseline Shift Toward Sustainability
1.3 The Forms and Stages of Sustainable Business
1.3.1 Sustainability Marginalized
1.3.2 Sustainability Grows Up
1.3.3 Sustainability Gears Up
1.4 The Business Case for Sustainability
1.4.1 There Is Actually Just One Bottom Line
1.4.2 Environmental Changes and Business Implications
1.4.3 Green Shoots and Blue Oceans
Key Terms
Discussion Questions
Case 1 From Plastic to Paper in Packaging: Tata Consumer Products’ Journey Toward a Circular Economy
Case 2 Greening the Game of Golf
Further Research
Endnotes
2 Perspectives
Ecosystem Services
2.1 Introduction: Perspectives on Sustainability
2.2 Social Perspectives
2.2.1 Stakeholder Engagement
2.2.2 Corporate Social Responsibility
2.2.3 Human Rights
2.2.4 Laws and Regulations
2.2.5 Ethics and Environmental Justice
2.3 Economic Perspectives
2.3.1 Globalization and Its Discontents
2.3.2 Environmental Kuznets Curve and Its Criticism
2.3.3 Natural Capital Accounting and Sustainable Land Use
2.3.4 Sustainable Engineering
2.4 Environmental Perspectives
2.4.1 Regenerative Capacity
2.4.2 Biomimicry
2.4.3 Cradle- to- Cradle
2.4.4 Human Ecology
Conclusion
Key Terms
Discussion Questions
Case 1 Emerging Drinking Water Contaminants
Case 2 From Education to Environment: The CSR Strategy of Mahindra Lifespaces
Additional Material
Endnotes
3 Legal Frameworks for Sustainability
Climate Change Divides Corporate Lobbying Efforts
3.1 The Role of Law in Corporate Sustainability
3.1.1 Hard Law, Soft Law, Legal Hierarchy, International Law
3.1.2 The Legal Environment of Business
3.1.3 Incentives for Legal Compliance
3.2 Law and Sustainability by Business Area
3.2.1 Design, Production, and Pollution
3.2.2 Supply Chain, Marketing, and Consumer Protection
3.2.3 Packaging, Waste, and Disposal
3.2.4 Land Use Planning
3.3 Limits of the Law
3.3.1 Legal Compliance vs. Sustainable Performance
3.3.2 Lobbying for Lax Laws
3.3.3 Under- Enforcement of Good Laws
3.4 India’s Legal Perspective on Sustainability: CSR and ESG Compliances
3.4.1 SEBI’s 2023 ESG Reporting Guidelines: The BRSR Format
3.4.2 Core Components of BRSR
3.4.3 New ESG Reporting Metrics in BRSR Core
Key Terms
Discussion Questions
Case 1 Can Litigation Set Public Policy on the Use of Drugs in Industrial Agriculture?
Case 2 Tata Group Sustainability Initiatives: Turning a Legal Compliance Issue into an Opportunity
Further Research
Endnotes
4 Finance and Accounting
Nature’s Invoice
4.1 Introduction: Why Measure and Report?
4.1.1 The Role of Finance and Accounting
4.1.2 Information- Driven Sustainable Business Model
4.1.3 (Almost) Everyone Is Doing It
4.1.4 What Are the Benefits of Monitoring and Reporting?
4.1.5 Drivers of Sustainability Reporting
4.2 Metrics
4.2.1 What Are Metrics?
4.2.2 The Triple Bottom Line
4.2.3 Sustainability Performance Metrics
4.2.4 What to Look for in a Metric
4.3 Tools
4.3.1 Natural Capital Accounting
4.3.2 Life-Cycle Assessment
4.3.3 Environmental Footprinting
4.4 Reporting
4.4.1 Leadership and Reporting
4.4.2 Threshold for Reporting: Materiality
4.4.3 Sharing Sustainability Information with End Consumers
4.4.4 ISO Standards for Sustainability Reporting
4.4.5 Global Reporting Initiative
Key Terms
Discussion Questions
Case 1 Chocolate Crusaders
Case 2 ITC Limited: Triple-Bottom-Line Approach to Sustainable Finance and Accounting
Further Research
Endnotes
5 Operations Management
Ancient Air Conditioning in Modern Building Design
5.1 The Role of Operations Management in Sustainability
5.1.1 The OM Function
5.1.2 How OM Impacts Sustainability
5.1.3 Water- Related Operations Management Risks
5.2 Operations Strategy
5.2.1 Sustainable Operations as a Competitive Priority
5.2.2 Sustainable OM Strategy
5.2.3 Stakeholder View of Operational Output
5.2.4 Striking the Right Balance Through Quality Management
5.3 Operations Design
5.3.1 Product Design
5.3.2 Process Design
5.3.3 Process Performance Metrics
5.4 Operations Planning and Control
5.4.1 Inventory Management
5.4.2 Work System Design
5.4.3 Enterprise Resource Planning: Using Big Data Analytics
5.4.4 Healthy, Productive Employees: Scheduling
5.5 Facility Management, Layout, and Design
5.5.1 Facility Management
5.5.2 Facility Layout
5.5.3 Facility Design
Key Terms
Discussion Questions
Case 1 Too Little or Too Much: Inventory Management During Environmental Crises
Case 2 Hero Motocorp Ltd: Sustainability-Focused Operations
Further Research
Endnotes
6 Marketing
From Superbowl Ads to Viral Videos
6.1 Introduction: Marketing Sustainability
6.1.1 Conventional Marketing vs. Marketing Sustainability
6.1.2 Segmenting the Market for Sustainable Products
6.1.3 Trends in Marketing Sustainability: Avenues for SMEs
6.1.4 Rewards of Sustainable Marketing
6.2 Legal and Ethical Boundaries
6.2.1 Truth- in- Advertising Rules
6.2.2 Guidelines for Marketing Environmental Attributes
6.2.3 Product/Process Information Distinction
6.2.4 What Is Greenwashing?
6.3 Strategy for Marketing Sustainability
6.3.1 Sustainability Marketing Principles
6.3.2 Brand Development
6.3.3 Stages of Marketing Sustainability
6.3.4 International Marketing
6.3.5 Challenges to Marketing Sustainability
6.4 Certification Programs
6.4.1 Guidelines for Third- Party Certification Programs
6.4.2 Types of Certification Programs
6.4.3 Certification Design
6.4.4 Challenges to Sustainable Certification
Key Terms
Discussion Questions
Case 1 Dabur India’s “Rediscover Nature” Marketing and Sustainability Campaign
Case 2 Nike, Inc. v. Kasky
Further Research
Endnotes
7 Supply Chain Management
Building A Sustainable Supply Chain: Lessons From Starbucks
7.1 Sustainable Supply Chain Management in Context
7.1.1 The Role of SCM in Sustainability
7.1.2 Managing Supply Chain Risks: Going Beyond the First Tier
7.1.3 Traceability and Increased Supply Chain Transparency
7.1.4 Business Benefits of Sustainable SCM
7.1.5 Water- Related Supply Chain Risks
7.1.6 Human Rights, Child Labor, and Occupational Safety in Global Supply Chains
7.2 Managing the Entire Product Life Cycle
7.2.1 Life-Cycle Assessment and Cradle- to- Cradle Design
7.2.2 Product Design
7.2.3 Packaging
7.2.4 Sourcing
7.2.5 Process Design
7.3 Managing Supply Chain Infrastructure
7.3.1 Logistics
7.3.2 Reverse Logistics
7.3.3 Transportation
7.3.4 Facility Location
7.4 Managing Supply Chain Stakeholders
7.4.1 Suppliers
7.4.2 Consumers
7.4.3 Nongovernmental Organizations (NGOs), Civil Society Organizations (CSOs), and Nonprofits
7.4.4 Governmental Agencies and Regulation
7.4.5 Social Responsibility Monitoring
7.4.6 Competitors
7.4.7 Communities
Key Terms
Discussion Questions
Case 1 Flipkart: Building a Sustainable E-commerce Logistics Network
Case 2 iSlave: Labor Conditions at Consumer Technology Parts Suppliers
Further Research
Endnotes
8 Risk Management
Happy Meals Dodge Tainted Toys
8.1 Risk Management and Sustainable Business
8.1.1 The Role of Risk Management in Sustainable Business
8.1.2 The Risky Environment of Business
8.1.3 The Moral Psychology of Risky Business Decisions
8.1.4 The Enterprise Risk Management Continuum
8.2 Risk Identification
8.2.1 Business Risks Managed by Sustainability
8.2.2 Preventable vs. Uncontrollable Risk
8.2.3 Water- Related Business Risks
8.2.4 Climate Change- Related Business Risks
8.3 Risk Assessment
8.3.1 Scenario Planning
8.3.2 Measuring the Materiality of Risk
8.3.3 Vulnerability
8.3.4 Putting It All Together
8.4 Risk Response
8.4.1 Bearing Risk
8.4.2 Avoiding Risk
8.4.3 Mitigating Risk
8.4.4 Sharing Risk: Insurance
8.5 Risk Management Strategies in Business
8.5.1 Business Continuity Planning
8.5.2 Resilience
Key Terms
Discussion Questions
Case 1 Surviving Supply Chain Disruptions from a Global Pandemic
Case 2 Infosys and Cybersecurity Risk
Further Research
Endnotes
9 Leadership, Change Management, and Corporate Governance
Sustainable Leadership, Corporate Governance, and Innovation at Unilever
9.1 Introduction: Leadership as Antidote to Collective Action Problems
9.1.1 What Is a Collective Action Problem?
9.1.2 What Is a Tragedy of the Commons?
9.1.3 Sustainability Through Self- Regulation
9.1.4 The Sustainable Leadership Gap
9.1.5 The Sustainable Development Goals (SDGs)
9.2 Leadership
9.2.1 What Is Sustainable Business Leadership?
9.2.2 New Competencies of Sustainable Business Leaders
9.2.3 Inner Development Goals (IDGs)
9.2.4 Sustainable Leadership Strategy
9.3 Change Management
9.3.1 Entrepreneurialism and Innovation
9.3.2 Developing a Sustainable Business Strategy
9.3.3 Change Management
9.3.4 Hiring Strategy and Employee Engagement
9.4 Strategic Alignment for Sustainability Through Corporate Governance
9.4.1 Strategic Alignment: Integrating Sustainability into Corporate Strategy
9.4.2 Sustainable Corporate Governance
9.4.3 Corporate Governance Mechanisms
9.4.4 Resolving Conflicts Between Shareholders and Stakeholders: Rise of the B- Corp
9.4.5 Executive Compensation
9.4.6 Rise of the Chief Sustainability Officer
Key Terms
Discussion Questions
Case 1 The Downfall of Jet Airways India
Case 2 Drilling Down on Corporate Governance
Case 3 Corporate Leadership Amidst Turbulent Times
Further Research
Endnotes
Glossary
Index