Creating a sustainable business

This Case Study focuses on the importance of creating a sustainable business. It outlines Westpac's commitment to sustainability concerning its stakeholders, that is, its employees, customers, the environment and the community.

As a result of reading this Case Study, students should be able to:

• Understand what is meant by sustainability 
• Explain the concept of corporate social responsibility and how this is important to business success
• Discuss the concept of stakeholders and a business' responsibility to each stakeholder group.

Introduction

The catchphrase of the 1980s was 'Greed is good'. Times have changed, however, and today's catchphrase is 'Green is good'.

The need for socially responsible business

Sustainability is more than just a philosophy, it is good business practice.

Sustainability and employees

A company only performs as well as the people it comprises.To create long-term shareholder value, a company must attract and retain the finest talent.

Sustainability and customers

Satisfied customers are crucial to business success. But what satisfies a customer?

Sustainability and the environment

Environmental concerns are one of the most pressing issues for business today.

Sustainability and the community

Being socially responsible means making a positive contribution to the community.

Conclusion

Sustainability and corporate social responsibility are more than just buzz words.

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