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Ethical Consideration in Sustainable Business: A Quadruple Bottom Line Concept
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Author(s): Vera Oktari (Universitas Riau, Indonesia), Noorlailie Soewarno (Universitas Airlangga, Indonesia), Alfa Rahmiati (Universitas Airlangga, Indonesia), Nurazlina Nurazlina (Universitas Riau, Indonesia), Jonnius Jonnius (Universitas Islam Negeri Sultan Syarif Kasim, Indonesia), Feriza Putri Hasanah (Independent Researcher, Indonesia)and Desmiyawati Desmiyawati (Universitas Riau, Indonesia)
Copyright: 2025
Pages: 20
Source title:
Transforming Business Through Digital Sustainability Models
Source Author(s)/Editor(s): Afshan Younas (Arab Open University, Oman)and Aza Azlina Md. Kassim (Management and Science University, Malaysia)
DOI: 10.4018/979-8-3373-0608-7.ch007
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Abstract
According to stakeholder theory, a company is not only an entity that operates to achieve the goals of the organization itself, but must also be able to provide benefits for its stakeholders. Companies need to pay attention to their responsibilities to stakeholders to create value for the company. The creation and fulfilment of the wishes of the company's stakeholders must ultimately be a goal for the company. Normative Stakeholder Theory provides an explanation of the issue of moral obligations of company managers with the basic principle that all stakeholders have intrinsic moral values, where each stakeholder has their own values and has nothing to do with the values brought by other stakeholders. The term Triple Bottom Line refers to foundation of thinking in accounting and finance to explain and assess sustainability. This concept requires companies not only to attach importance to economic profits, but also to be socially and environmentally responsible, become Quadruple Bottom Line concept with adding governance as the fourth pillar, in term to handle ethical issues.
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