International Journal of Research in Marketing Management and Sales
2022, Vol. 4, Issue 1, Part A
Role of businesses in a sustainable economy
Dr. Arunkumar B
Today the role of companies has grown beyond borders and some of them have grown greater than countries with greater revenues and workforce than GDPs and population. This, coupled with the changing paradigms of business like greater regulations and scrutiny, resource crunch, consumer awareness, and community pressure has led them to rethink the current business models. With this context, the paper talks about the new pressures and the business response to these pressures to remain sustainable in the long run. The paper also talks about some key companies (DuPont, GE, and Pentair Water) which have managed to evolve their business models on the triple bottom line principles to remain sustainable in the turbulent times. The paper would also throw some light on the Indian context of sustainability and how India Inc. and whether it views sustainability as a challenge or an opportunity. The paper would conclude with tackling the quintessential question of whether this response of businesses to sustainability remains an eye-wash or whether it is now an integral part of their core strategy.