<p>Sustainability in the management field has several benefits including improvements in food quality competitiveness, responsibility and trust. Additionally, has been related not only to improving the image of organizations but also to increasing their value. However, this concept is multifaceted and diverse, and sometimes an incongruity appears when business leaders just want to increase their sales. Consequently, corporate governance has emerged as a topic connected to the establishment of agreements and the implementation of improvements in three dimensions: environmental, social and economic. This essay intends to explore the benefits, challenges and opportunities of sustainability and corporate governance to demonstrate the desirability of incorporating these topics into organizational management. Additionally, different models of sustainable governance are described to identify their elements and the similarities among them. We conclude that collaboration is key in all models and that it is necessary to broaden theoretical development to enable the implementation of best practices of corporate governance and to ensure sustainability.</p>
Corporate governance is a topic that in recent years has been related to fraud and economic crises, which could be reasons for pessimism; however, this study views it as an opportunity to improve the organizational environment. Therefore, this exploratory study is conducted with the purpose of identifying the context in which corporate governance occurs and potential international trends. The review of the literature indicates that corporate governance codes based on the model of insider information are gradually being replaced by American and British models, which are characterized by democracy, transparency, and accountability. Similarly, there is emphasis on the importance of bringing organizations and interest groups closer together and building consensus to develop activities that are in the common interest and that provide benefits to all. Finally, further studies are recommended to improve national and international standards concerning corporate governance with the aim of balancing the interests of organizations and their stakeholders.
La situación mundial actual, caracterizada por problemáticas de tipo social, medio ambiental y económico, plantea la necesidad de nuevas formas de organización. Existen algunos temas que podrían ayudar al respecto, como la responsabilidad social empresarial. Sin embargo, existe confusión en cuanto a los beneficios que esta aporta. Por ello, se realiza una revisión literaria para proporcionar al lector una introducción sobre este tema. Los hallazgos señalan que la responsabilidad social empresarial tiene una relación positiva con temas relevantes como la reputación corporativa, la intención de compra, el voluntarismo, el compromiso, la sostenibilidad y el desempeño organizacional, entre otros. Por ende, es necesario continuar con el desarrollo teórico y práctico de la responsabilidad social por parte de la academia y el sector empresarial, respectivamente.
Summary The topic of corporate sustainability has gained importance in recent years; unfortunately, confusion persists as to what it represents for businesses and academics. This review of the literature aims to analyse concepts and models related to corporate sustainability and to emphasize the most representative recent findings regarding the benefits, challenges, and opportunities of corporate sustainability. First, a series of benefits are identified, including improved quality, image and reputation for organizations. Second, challenges are recognized, such as the high cost of investment and the lack of consideration of cultural factors, collaboration and innovation. Opportunities are then presented, for example, the implementation of sustainability through life cycle management, the “Eden Project” and analysis of strengths, weaknesses, opportunities and threats (SWOT), among others. Finally, the need to achieve the benefits, take advantage of the opportunities and face the challenges of corporate sustainability in order to balance environmental, social and economic development is highlighted.
Sustainability is a topic that has experienced a growing interest in recent years within the academic world, and at the same time, it manifests itself as a particular inconsistency of the business sector, who use it as a means to improve their image, setting aside its vision of great significance. In order to achieve the fundamental purpose of sustainability, the corporate governance model has been an evolving subject in recent years. This is due to the fact that even though the mechanism still endures, it has little to do with the balance of social and environmental benefits. In Mexico, cattle ranchers have faced several problems, such as the difficulty of marketing with intermediaries. In response, this quantitative study has been carried out in order to identify a possible relationship between sustainability and corporate governance, through the testing of six hypotheses. The findings show a positive correlation between corporate governance mechanisms (formal and efficiency) and sustainability dimensions (economic, social, and environmental). This provides further evidence of the complexity of sustainability and corporate governance issues.
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