A STUDY ON SIGNIFICANCE OF CORPORATE SUSTAINABILITY IN MODERN ERA

The slow and gradual changes in the corporate world have given rise to the concept of corporate sustainability. In the modern era, liberalization, privatization and globalization have raised the level of competition for almost every business sector. Only performance and making money is not just enough but due importance needs to be given to social and environmental issues i.e. not only doing well but also doing good. Corporate sustainability is an attempt to create long term stakeholder value by focusing on ethical, social, environmental, cultural and economic aspect while conducting business. Corporate sustainability is an approach that brings about change to reduce the negative impact of business on the people, planet and profit. These are considered to be the three pillars of corporate sustainability i.e. Social, Environmental and Economic performance