The Latest Trends in the Corporate Sustainability and its Implications for Czech Businesses

Zuzana Křečková Kroupová

Central European Business Review, 2015, vol. 2015, issue 2, 12-20

Abstract: This paper analyzes the state of corporate sustainability in the Czech Republic compared with world trends, including case studies of best practices. Corporate sustainability has developed from ad hoc activities dominantly focused on cost-cutting or corporate image improvements to strategic issue requiring the attention of corporate boards and top management. The development of sustainability as an integral part of corporate existence comprises of the following managerial implications: strategy, collaboration, and implementation. The strategic component requires mission reformulation, strategy redefinition and involves the board and top managers' broader thinking, leaders capable of open mindedness, and creativity. The collaborative component calls for intensive collaboration and communication with all stakeholders, including association with avant-garde partners, such as, NGOs, regulators, universities, and competitors. The implementation component addresses the need for high quality change management programs.

Keywords: Corporate sustainability; Czech Republic; Corporate social responsibility; shared value; strategy (search for similar items in EconPapers)
JEL-codes: M14 Q56 (search for similar items in EconPapers)
Date: 2015
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://cebr.vse.cz/doi/10.18267/j.cebr.122.html (text/html)
http://cebr.vse.cz/doi/10.18267/j.cebr.122.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlcbr:v:2015:y:2015:i:2:id:122:p:12-20

Ordering information: This journal article can be ordered from
Faculty of Business Administration, University of Economics, Prague
http://cebr.vse.cz

DOI: 10.18267/j.cebr.122

Access Statistics for this article

Central European Business Review is currently edited by Jindřich Špička

More articles in Central European Business Review from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().