Sustainability in organisations is not just about addressing social responsibility or meeting triple bottom line criteria to maximise shareholders’ short-term interests. This paper proposes that sustainability can only be created when business leaders transform the way they currently think, challenge economic myths, and adopt a systematic and holistic view. This will generate a philosophy of leadership that embraces a set of sustainable values and principles. Sustainable practices will become embedded in corporate strategies, balancing hard and soft goals for the long-term interests of multiple stakeholders. To execute such sustainable strategies well demands a culture of enrichment, trust, shared values, professionalism and collegiality, learning, innovation and communitarianism. Sustainability in organisations is created when all three components – leadership, corporate strategies and culture – reinforce each other for the long-term benefit of multiple stakeholders.
Macquarie University, Sydney, NSW, Australia
Professor, MGSM, Macquarie University, Macquarie Park, NSW, Australia
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