JJT2 Social Responsibility

Company X Tax Services is a part time small home operated business with one employee who is the owner/operator. It provides tax preparation and filing to individuals, sole proprietorships, partnerships, and s-corporations. Company X Tax Services has been in business since 1996. There has never been a sustainability strategy save for 100% adherence to tax laws.
(A1)
Good company citizenship goes beyond simply meeting the letter of the law. A socially responsible company should be aware of the effects its decision-making has on the community around it. This is illustrated in part “A” of the unanimously adopted policies of the Economic and Social Commission for Asia and the Pacific (ESCAP) Virtual …show more content…

* Make it everybody’s responsibility – Sustainability today parallels where quality was a few decades ago – a bolt on system of checks and balances. Then the Total Quality Management (TQM) movement came along and made quality everybody’s responsibility, leading to big improvements in the quality of consumer goods. * Don’t forget you are running a business – A green bankrupt company won’t help anyone. You must understand the business case for going green as it applies to your business. Then apply the solutions that are good for the planet and good for your business.

(A3) Sustainability is defined as meeting "the needs of the present without compromising the ability of future generations to meet their own needs." In order for a company to be sustainable, it must balance the Triple Bottom Line (TBL) of “people, planet, and profit”. Sustainable management to achieve sustainability is the practice of directing a company in such ways as to promote, in the long run, financial value for the company itself (profit), environmental protection (planet), and social well-being for its stakeholders (people). Reasons why companies fail to successfully adopt sustainability as a guiding strategy: * They don’t fully understand the definition of