Buddhist approach to corporate sustainability

Hee‐Chan Song

Business Strategy and the Environment, 2021, vol. 30, issue 7, 3040-3052

Abstract: The win‐win paradigm of corporate sustainability suggests that firms can transform sustainability issues into strategic opportunities, thereby creating shared values at the intersection of business and society. This study explores an alternate approach by delving into Buddhism and its meditative tradition. To deeply immerse myself into the monastic life of Buddhist monks and their meditation practice, I conducted a 5‐year ethnographic fieldwork in 82 Buddhist temples across Asia. In the fieldwork process, I was even ordained as a Buddhist monk to internalize the practice. This level of immersion allowed me to investigate the nature of Buddhist meditative mindfulness and its role in reframing corporate sustainability. Drawing upon the findings and relevant literature, I suggest a Buddhist approach to corporate sustainability that offers a unique worldview on the interrelationships between economy, society, and environment. In conclusion, I compare the Buddhist approach to the win‐win paradigm.

Date: 2021
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