Social Justice College Essay

The foundational values of SBM- sustainability, social justice, and good governance are relevant to business and management and are all linked together. Sustainable development can be simply defined as the development that meets the needs of the present without compromising the needs of upcoming generations. There is often a chasm between activities and outcomes. For example, Recently school enrolment and literacy rates have gone up but the employment rate has stagnated, deforestation slowed down but fish stocks are diminishing rapidly. Thus this chasm between activities and outcomes is because of two reasons. (Lele, 2013)

1. The universal appeal of the term Sustainable development is its weakness. It is often interpreted and redefined in ways that limit its goals.
2. The diverse and radical perspective of people. They are unable to articulate a common vision and a joint way forward.

The original definition of sustainable development focused on meeting needs, but the operational part refocused attention on growth, suggesting that economic growth is essential for poverty reduction. Thus under the leadership of the World Bank, the main goals of Sustainable development were redefined as;

• Development as economic growth with a trickle-down effect
• Sustainability as non-declining economic well being
• Equity as participation in the process of development decision-making.

The challenge of sustainable development is to bring a different perspective into at least a dialogue if convergence is not possible and the broad notion of well-being should include a lot more than just freedom. Thus sustainable development is redefined as ecologically sustainable and socially just pursuit of basic material and non-material well-being.

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Social justice is a normative account of social relations, i.e. something that is concerned with values. It means an equal distribution of wealth, opportunities, rights, etc. A sustainable environment is a self-sufficient environment that produces less waste, is low on carbon footprints, has more greenery, meets the needs of the present without compromising the needs of the future, and most importantly an environment where every citizen can live meaningful and healthy lives. But is this possible that all citizens have equity? The core concern for sustainability is equity and justice. Even according to the third point of social justice as defined by the World Bank; there should be equity as participation in the process of development making. One of the major concerns for global society's goal of sustainability is the fear of exclusion of marginalized societies in the participatory process toward a sustainable environment. There is a lack of social stability, increased inequality within as well as between countries, the undermining of the economic bases of our societies, and the list goes on. Surprisingly businesses play a dominant role in social instability.

And so we come to the third challenge; Good Governance. Governance is how sustainable development is built. The objective of good governance is to promote accountability, and efficiency, and to ensure equitable and sustainable development. Good governance ensures that corporations oversee their social responsibilities to ensure sustainability. For the past few years, people have been concerned about saving Earth's natural resources to make them last as long as possible. Since businesses are significant users of Earth's natural resources, they must ensure sustainability as well as equity. Good governance ensures that corporations are aware of how their business impacts the environment and whether it ensures social justice and equity among its workers and consumers. Every business should understand the impact it has on people and society. Businesses should be responsible for maintaining human rights, fair labor practices, living conditions, equity, wages, etc. Good governance should ensure that the impact they are having on people is just and equal and thus ensures social justice by creating sustainable places that promote well-being by understanding the needs and demands of people. It is the responsibility of businesses to ensure that the people working for them get equal wages, and opportunities and are not violated of their human rights. This ensures their health and productivity. Healthier and more productive workers then translate to more profits for companies. Providing safer working conditions, living wages, and job security creates a secure supply chain. To ensure a seamless supply chain, logistics play a huge role. Logistics is the process of planning, implementing, and managing the movement and storage of raw materials, work in progress, inventory, finished goods, and associated information from the point of origin to the point of consumption. Logistics ensure a global supply chain by linking together firms in different parts of the world and adding value creations. Businesses have evolved from a push strategy to a pull strategy by outsourcing, free trade agreements, structural adjustments, foreign direct investments, and export-based development. The global supply chain thus created reduces inequality between countries and ensures social justice.

Good governance is not just ensuring social justice but also should keep sustainability as its key goal. Since businesses are the key users of resources, they should be mindful of what they tell and give back to society. Businesses have now aimed to operate as 'green' as possible by saving energy, reducing waste, cutting costs, and trying as much as possible to maintain and enhance natural resources. Working towards a sustainable environment has multiple benefits for the business. Stakeholders appreciate and invest heavily in businesses that ensure sustainable goals by preserving energy and resources. Even consumers prioritize businesses that have sustainable supply chains that are transparent as it improves the public's view of the company which directly impacts their bottom line. Ultimately these efforts increase the corporation's credibility.

Business would be a success if it developed processes and structures that meet the needs of its current members and support the ability of future generations to maintain a healthy community. Thus, businesses work better under good governance which ensures social justice and sustainable goals. Good governance, social justice, and sustainability are all linked to each other, and we cannot differentiate them. Resolving the issue of good governance will feed through and eradicate the problem of sustainability and social injustice. Since good governance ensures transparency; it would be cautious of its moves as corporations are aware that the public is watching them. Consumers automatically have a bend toward companies that treat their employees right and who exterminate the problem of social instability and inequality while being mindful regarding the nature and the correct usage of resources. Eliminating carbon footprints, ensuring proper disposal of its products using recycling and reusing, and giving back to nature a lot more than what it takes from nature are some points that attract more and more consumers which would automatically reap profits for the business. And the only way businesses can make this dream come true is through good governance. Thus, good governance will help resolve the challenge of sustainability and social justice.