Ease of communications and competitive forces have caused many businesses to look for low- cost suppliers in other countries. Yet, in many instances, the best prices for goods and/or services are coming from companies located in developing countries where labour is very inexpensive and business regulations (e.g. labour laws, environmental regulations, etc) and enforcement are weak. So, for companies that are committed to sustainable business, supplier conduct is often a significant issue. With this in mind, work in your group and walk through the meaning of each of the following four concepts that form the foundation of sustainable business. 

1. Sustainable development 

2. Corporate social responsibility 

3. Stakeholder theory 

4. Corporate accountability theory Be sure you fully understand each concept. 

Once you have discussed each of these areas, answer these questions: 

1. How can a company that is committed to sustainable business compete with a firm that is willing to chase the lowest-cost offers (i.e. irrespective of the conduct of the suppliers)? List five (5) strategies. (10 marks) 

2. Why is it important to articulate a commitment to sustainable business in some form of a company mission statement or widely circulated policy document (i.e. something that has been vetted sat the highest level by the president or CEO)? List five (5) reasons. (10 marks)