Analysis of 3rd Wave Organizations for Corporate Sustainability

This report delves into the characteristics of 3rd Wave organizations, as defined by their commitment to corporate sustainability. These organizations prioritize human and ecological sustainability, aiming to integrate these tenets into their core purpose, strategy, and operations. They focus on environmental responsibility through circular economy approaches, building strong supply chains, and fostering stakeholder relationships. The report highlights the importance of strategic actions, like stakeholder engagement, and the need for organizational structures that support these goals. It emphasizes the roles of primary and secondary stakeholders and the importance of recycling resources. Furthermore, it discusses modifications in the production approach, focusing on environmentally friendly materials and waste reduction. The report references Benn, Edwards, & Williams (2018) to support the analysis.

Corporate Sustainability Management
Characteristics of a 3rd Wave Organization
According to the article ‘Organizational change for corporate sustainability’, the 3rd Wave organizations
are referred to as the business entity, that considers the tenets of human and ecological
sustainability while performing in the market.
The goals of these highly focused corporations are inclined towards developing environmental
responsibility through circular economy approach. They believe in creating strong supply chains
through a resilience strategy that supports people and communities. In order to
achieve the goals, strategic actions are put-in-place. Developing active stakeholder
relationships with a variety of community groups or Stakeholder Capital is one such strong strategic
move.
The writers emphasize that with strategies and goals in place for these
organizations, the structure and system of these organization must also be in-line.
Therefore, the third wave requires to perform a reimagining of the interrelationships, at root
levels, between an organization and its stakeholders and enhancing the stakeholder-accountability
process.
The authors also identify various stakeholders for the third wave organizations. They include primary
stakeholders like customers, owners, financiers, employees and suppliers, and
secondary stakeholders which are influenced by or influences the firm, like
government, the local community or society, activist groups or NGOs, future
generations and nature.
The third wave signifies the enlarged corporate responsibility and affirmative
relationship with people. Along with people, these organizations ensure that resources are recycled
in a cost-effective manner or returned to the environment in a ecology friendly form, or through some
other mode which will help restore the balance enrich the environment where it is damaged. The
production approach is also modified at the design phase itself by transforming the initial design of
products, considering the choice of environmentally friendly, nonpolluting materials and designing out
waste.
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Corporate Sustainability Management
References
BIBLIOGRAPHY Benn, S., Edwards, M., & Williams, T. (2018). The sustaining corporation.
Organizational change for corporate sustainability, 201-235.
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