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If we accept the concept of sustainable development as a leading vision of mutually entangled factors, and overcome the associated problems of today on a planetary level, then three new supportive steps should put a socially responsible business conduct, and partnership.
Balance in the relationship between economy, society and environment. Without these three basic postulates of sustainable development, there can be no balance between the pillars. Any compromise would mean gambling blindly with the only remaining capital of the global society. If the economy, society and the environment set as three forms of capital - economic, social and natural, then we know that the guidance for the sustainable management lies in the symbiosis of socially responsible business conduct, and partnerships.
Sustainable development is possible only when all three circles overlap.
Ethics should be seen as a tool to produce the best possible state of affairs. When the state of things extend to the fate of the whole society, then the expectations surpass growth. The central role of ethics today is the idea of social responsibility and its predominant module - Corporate social responsibility (due to increased power companies in the last few decades). The virtue of this concept is that it significantly extends the orientation of the corporate state, without losing access to individual strengths. The inclusion of social postulates of sustainable development in the sphere of interest of stakeholders has witnessed social postulate (or social group goals) gaining importance as it becomes institutionalized.
What to expect from the corporate sector? Corporate sustainability connects business financial, social, ethical and natural targets. Not only will financial goals create conditions for sustainable production of human development and social justice, but will also ensure equality in the distribution of common natural and cultural resources of the world, leading ultimately to individual happiness.
Integrating sustainable development into all aspects of developmental processes often contradicts the following identified problems: lack of understanding, the difference between theory and practice, lack of political commitment, the importance of values, ignoring the time dimension and complexity of decentralization. This is because it gives rise to the opinion that it was the best partnership mechanism of direct spread of influence on society in terms of final acceptance of the principles of sustainable development.
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Rade Glomazic
Born in Podgorica, Montenegro, Glomazic graduated from European University with a BA in Management Studies. He holds an MBA from the Lincoln University, California, and a M.Sc. in Economics from Singidunum University, Belgrade. He also finished Executive education program at Harvard Kennedy School in 2009. He is currently a Doctoral candidate in Political science at the European Center for Peace and Development of the UN University of Peace. Glomazic has over ten years of professional experience working in socio-economic development activities and on international cooperation programs in the West Balkans.
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