Ecological Economics Addresses The Relationships Between Ecosystems And Economic Systems In The Broadest Sense. How The Business, Stakeholder, Manager That Achieve Ecological Economic Sustainability

2696 words - 11 pages

Topic: Ecological economics addresses the relationships between ecosystems and economic systems in the broadest sense. How the business, stakeholder, manager that achieve ecological economic sustainability?Today's human lives are facing many global serious issues that affect and harm in their daily life. The challenge is how to manage sustainability while keep a profit or responsibility in the society. For the last decades, the number of environmental disasters has been increased significantly and a new concept was developed a concept of corporate accountability (Khan, 1995). A company's purpose, responsibility and accountability extend well beyond profit for the shareholders (Briassoulis, 2002). Moreover, a company clearly affects or is affected by a broader community of stakeholders in ways that have both quantitative and qualitative effects. Stakeholders include all those people and organizations that influence and are influenced by a company's existence. These can include customers, shareholders, creditors, suppliers, manufacturers, citizen's community groups, various levels of government, contractors, accountants, lawyers, and competitors (Briassoulis, 2002).Sustainable development can be defined as satisfy the resource to people in the present time and will not affect the next generation's need and demand (Costanza, 1989). Sustainable development focuses on improve people's life quality without use the natural resources from the next generation and damage the natural environment. Therefore, understanding human need and environmental effects can be considering an important work. For example, the relations between the institutional structure and people's individual behaviour. Change organization's policy and product in order to achieve ecological economics are crucial to the earth environment (Costanza, 1989).Environmental sustainability is a major global trend for the 21st century, because it reflects that improve the earth's citizens' quality life meanwhile protect the natural resource in the future (Khan, 1995). Another defines environmental sustainability as maintaining the rates of use of renewable resources so that it is sufficient for the next generation (Khan, 1995).As sustainable development is not a physical action, but more of a guide to what action needs to be taken, much debate and controversy has come from all sides about many principles and conclusions as to what procedures should be undertaken (Shastri, et. al, 2008). Few policies for risk management have created as much disagreement as the Precautionary Principle (Shastri, et. al, 2008). The precautionary principle could be simplified as the idea that if the outcome of an action or actions is unknown, but are estimated to have the potential for irreparable destructive end results, then it is important to avoid or take an alternative action (Shastri, et. al, 2008).This principle is of benefit to environmental managers as it prevents potentially disastrous actions being...

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