THE DURABLE CORPORATION IN A TIME OF FINANCIAL AND ECONOMIC CRISIS
Keywords:Financial crisis, corporate social responsibility, sustainability, durability, sustainable development, governance, accountability
In this paper we argue that the concept of sustainability is not fully understood by business managers. This paper extends our previous work (see for example Aras & Crowther 2007, 2008a 2008b 2009) to address the issue of sustainability in the context of financial crisis. In doing so we continue to develop new theory using a Kantian dialectical method based upon case analysis to develop a fuller understanding of corporate durability. We further argue that a company which understands and practices durability – a stronger form of sustainability – would be better equipped to withstand the economic crisis and would be less susceptible to succumbing to the problems of the financial crisis. An understanding of the complexities involved in the managing of durability enables the identification of the complexities of risk to which the company is exposed. We therefore explain the theory underpinning this assertion before going on to illustrate its veracity through the use of case studies of a variety of corporate contexts.