Sustainability in Theory and Practice - Thames Water

Running head: SUSTAINABILITY IN THEORY AND PRACTICE - THAMES WATER
SUSTAINABILITY IN THEORY AND PRACTICE - THAMES WATER
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1SUSTAINABILITY IN THEORY AND PRACTICE - THAMES WATER
Table of Contents
Section 1..............................................................................................................................2
Section 2..............................................................................................................................5
Section 3..............................................................................................................................8
Section 4............................................................................................................................10
References..........................................................................................................................12

2SUSTAINABILITY IN THEORY AND PRACTICE - THAMES WATER
Section 1
The sustainability refers to the process of the maintenance of changes within the
concerned business environment with the maintenance of a balance in the entire activity. The
sustainability within the given business organization aims to assist in the enhancement of the
potential that is required in order to meet the several aspirations and the need of the human
beings. Epstein (2018) opine that the major componential features that are included within the
sustainability measure refers to the resource usage, the investment direction, the developmental
orientation of the technological advancements, and the changes in the institutions that have been
adapting to the sustainable changes that are being conducted within the business organization.
The sustainability as practiced within the given business organizations is generally
defined as one of the socio-ecological processes that are characterized through the involvement
of the pursuit of the common goal. The attainment of the sustainability within a given
organization helps in the development of the issues that might help in the protection of the
environment wherein the concerned company has been active (Herzog 2017). According to
Benn, Edwards and Williams (2014), the major areas that are covered by the companies that
exercise the sustainable practices are the areas of fairness of business practices that are
conducted by the organization, the observation of the rules that are set by the law and regulatory
bodies of the area as well as the labor rights and the fair employment within the given
organization.
The sustainability that is maintained by the organizations might be implemented on the
lines of the theories of the sustainability that is proposed by the eminent researchers like
Friedman and Archie Carroll. The shareholder theory as was proposed by Milton Friedman

3SUSTAINABILITY IN THEORY AND PRACTICE - THAMES WATER
suggests that the key aim of the organization is the generation of the proper amount of the
revenue, which would in turn help in the areas of the development of the company as well as
help the company to gain a better hold within the market of operation. The major loophole in the
theory of Friedman is the fact that the theory leaves open areas of question for the ethical
behavior on the part of the management of the concerned organization (Bento, Mertins and
White 2017). On the other hand, the theory of the corporate social responsibility as put forth by
Archie Carroll states the fact that the concerned organization should also aim at the maintenance
of the sustainability of the concerned organization through the incorporation of the various
factors that are required for the dealing with the issues that are faced by the organization. The
CSR pyramid that is discussed by Carroll states that the concerned business organizations should
be made aware of the issues that are faced by the company on the environmental matters. The
CSR pyramid further states that the concerned companies should take initiatives towards the
development and the maintenance of the sustainability within the area wherein the company
operates (Carroll 2016). This is majorly observed in the practices of the international coffee
chain, Starbucks.
The major theme of the five-year business plans that are undertaken by the company tend
to focus on the maintenance of the environmental issues within the given area. The concerned
company is also known to make various plans of the for the retention and the proper usages of
the water resources that are used by Thames Water (Corporate.thameswater.co.uk 2018). The
company is known to focus on the designing of the sewerage and the maintenance of the
sewerage capacities that might help in the maintenance of the water bodies that are present in the
area. The company in discussion, further deals with the development of the resilience for the