Sustainable Development - a special strategic management issue

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Essay from the year 2002 in the subject Business economics - Miscellaneous, grade: 1.0 (A), University of Dusseldorf "Heinrich Heine" (Department for Economics, Production), course: Strategic Management - a process and its practical implementation, language: English, abstract: This paper is divided in three major parts. In the first one a definition of “sustainabledevelopment” and an overview about it’s history and importance will begiven before part two (chapter 3) will follow with the consequences and importancesustainable development has for business. In the third part (chapter 4) theauthor will give an idea how sustainable development and strategic managementcan be linked. Finally the author will draw a brief conclusion. To have a common understanding throughout the text one of the most populardefinition will be given. It’s taken from the report “Our Common Future” published1987 by the WCED better known as the “Brundtland-Commision”:“<Sustainable development> is development that meets the needs of the presentwithout compromising the ability of future generations to meet their own needs. Itcontains within two key concepts: the concept of <needs>, in particular the essentialneeds of the world’s poor, to which overriding priority should be given;and the idea of limitations imposed by the state of technology and social organizationon the environment’s ability to meet present and future needs”1The idea itself is not new and can be found in a lot of cultures e.g. the Indians say“Treat earth well - it is brought from your grandchildren.” The important aspect ofhaving this rather vague definition is that for the first time a definition on an internationallevel was found and widely discussed by governments, NGOs, and theindustry.21 Wagner, G.R. 1997, S.352 compare Matten, D.; Wagner, G.R. (1998), pp. 55-56.