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Buddhist approach to corporate sustainability

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  • Hee‐Chan Song

Abstract

The win‐win paradigm of corporate sustainability suggests that firms can transform sustainability issues into strategic opportunities, thereby creating shared values at the intersection of business and society. This study explores an alternate approach by delving into Buddhism and its meditative tradition. To deeply immerse myself into the monastic life of Buddhist monks and their meditation practice, I conducted a 5‐year ethnographic fieldwork in 82 Buddhist temples across Asia. In the fieldwork process, I was even ordained as a Buddhist monk to internalize the practice. This level of immersion allowed me to investigate the nature of Buddhist meditative mindfulness and its role in reframing corporate sustainability. Drawing upon the findings and relevant literature, I suggest a Buddhist approach to corporate sustainability that offers a unique worldview on the interrelationships between economy, society, and environment. In conclusion, I compare the Buddhist approach to the win‐win paradigm.

Suggested Citation

  • Hee‐Chan Song, 2021. "Buddhist approach to corporate sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 30(7), pages 3040-3052, November.
    • Handle: RePEc:bla:bstrat:v:30:y:2021:i:7:p:3040-3052
    DOI: 10.1002/bse.2787
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    2. Daneshwar Sharma & Saumyaranjan Sahoo & Ashwani Kumar & Donald Huisingh & Dheeraj Sharma, 2023. "Corporate Nirvana: The Buddhist way to social sustainability and business innovation," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5289-5313, December.
    3. Achtelik, Timo & Herstatt, Cornelius & Tiwari, Rajnish, 2022. "Frugal sustainability: A new perspective to foster corporate sustainability," Working Papers 112, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management, revised 2022.

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