A STUDY ON SIGNIFICANCE OF CORPORATE SUSTAINABILITY IN MODERN ERA

The slow and gradual changes in the corporate world have given rise to the concept of corporate sustainability. In the
modern era, liberalization, privatization and globalization have raised the level of competition for almost every
business sector. Only performance and making money is not just enough but due importance needs to be given to social
and environmental issues i.e. not only doing well but also doing good. Corporate sustainability is an attempt to create
long term stakeholder value by focusing on ethical, social, environmental, cultural and economic aspect while
conducting business. Corporate sustainability is an approach that brings about change to reduce the negative impact
of business on the people, planet and profit. These are considered to be the three pillars of corporate sustainability i.e.
Social, Environmental and Economic performance.