5T5Z0011 Responsible Enterprise

Responsible Enterprise
Student’s Name

Responsible enterprise1
Contents
Introduction and Background..........................................................................................................2
Impact of MNCs in Society.............................................................................................................3
Responsible Enterprise....................................................................................................................4
Spectrum of responsible Enterprise.................................................................................................5
Role of government in society.........................................................................................................5
Conclusion.......................................................................................................................................6
References........................................................................................................................................7

Responsible enterprise2
Introduction and Background
As the name implies Sustainable, Development Goals (SDG) have been developed to ensure the
sustainable development while ending poverty, protecting planet, consuming energy effectively
and by doing other helping tasks. In the presented essay, focus will be made upon challenges for
private enterprise in respect to the chosen goal, role of MNCs, aspects related to responsible
enterprises and role of government in society. The purpose of this essay to develop an
understanding on the role of private enterprises and government while dealing with sustainable
development goals. For the presented essay, the selected SDG is number 7, which is related to
effective energy consumption.
Three pillar of sustainability are defined there. The same are social, environmental, and
economic pillars. More often, they can be understood as people, planet, and profit. If any of the
pillars is weak then the whole system cannot be termed as sustainable. It means in order to
become a sustainable enterprise, an organization need to make a good, ethical, and reasonable
balance among these three factors. Focusing on one and ignoring others can create an issue.
Behind the development of this goal, many of the challenges acted as a force or it may say that
many of the challenges were there which underlie this goal. Behind the development of the
subjective SDG i.e. SDG 7 too, there were certain social, economic and environmental
challenges which the private enterprises were facing.
The primary challenge behind the development of the goal is that the energy is regarded as the
central element of the various functions and the opportunities of the world today. It is essential
for not only the jobs, food production, climate balance, but also for the overall economic
development of a region. The goal is significant on the lines that it links various other sustainable
development goals with each other. In general, terms, the challenge that underlies the
development and work towards the goal is that universal access to energy is essential together
with the increased efficiency and use of the renewable energy. This is because these are further
necessary to combat the issues of climate change and creating more sustainable communities. In
the words of Martin Freer, the director of the Birmingham Energy Institute at the University of
Birmingham, the greatest challenge that lies with the use of the energy resources is “cooling”
(Gray, 2017).
In terms of the economic challenges, the scarcity of the energy resources lead to the scenarios
like economic disruption at international, national, and local levels; price rises, balance of
payments problems in terms of the international trade, hurdles in the availability of capital and
many more (Schandl et. al, 2016). The oil shocks of the 1973 and 1979 are some of the examples
of the economic disturbances caused by the energy resources use.
In terms of the political challenges, the lack of control over the energy resources has highlighted
the major challenge for the nation to be self-sufficient in terms of the energy resources.
The social challenges of the energy use arise from the three main reasons namely the want of the
nations of higher living standards, economic booms in the large regions and the increasing
numbers of population at national and international levels. As the energy resources aid in the