Definition

A responsible business strategy includes four steps toward sustainable development. First, the business can follow compliance-oriented regulations (a reactive stance). Then, it can adopt a precautionary or preventive strategy to avoid harmful environmental impacts. Third, it can use economic, social, and environmental strategies for competitive advantage (opportunity-seeking). Finally, it can adopt a full range of responsible operating, product, financial, stakeholder, labor, environmental and social strategies that make up sustainable development.

Keywords:

corporate social responsibility, CSR, ethics, ecoefficiency, Environmental Management Systems, EMS, green procurement, supply chain management, accountability, environmental auditing, environmental reporting, monitoring, waste reduction, environmental entrepreneurship, environmental consulting, green enterprise, capitalism, social enterprise, profit sharing, corporate codes of conduct, green accounting, health and safety reporting, eco-design, stakeholder involvement, life cycle assessment, LCA, carbon footprint