ABSTRACT
This chapter provides the reader with a better understanding of how companies can assess their strategic options for business development in order to comply with the demands of different stakeholders. For this, it clarifies the deeper meaning and interrelation of fundamental terms such as sustainability, responsibility and ethics. Furthermore, the chapter discloses the significance of sustainably responsible activities for the long-term success of business strategies. It describes how to gain a competitive advantage by developing sustainable strategies that cope with the different challenges of economic, social and ecological issues and develops strategies that cope with threats and exploit opportunities by applying strengths and compensating for weaknesses. The chapter discusses the deeper meaning of responsibility, sustainability and ethics and checks whether a strategic option is in compliance with demands for sustainable corporate responsibility (SCR). It describes the deeper ethical reasoning behind the principles of the UN Global Compact and outlines a practical approach to integrating SCR into strategic management lessons.
