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As globalization has influence on social sustainability mainly due to its effects on income distribution as well as labor share and profile at the local and global levels, sustainable development and globalization need to be examined from the social sustainability point of view. Social sustainability aspect of development and globalization is mainly affected by the income distribution and labor aspects. Labor share, degree of equality in the income distribution, labor competence, degree of elimination of child labor, degree of labor intensiveness in the production, labor's level of competence and productivity are among the main factors which can be influenced by globalization, its opportunities, and challenges as well as by its transformation into the postglobalization phase. These factors can influence social sustainability. In other words, there is a link and relationship among sustainable development, globalization, and postglobalization, income distribution and labor. Enhancing welfare of the societies and social sustainability necessitates focusing on the ways to achieve equality in the income distribution, and enhanced working conditions at the local and global levels across countries and industries. Based on an in-depth literature review, this chapter aims to assess and rethink sustainable development and globalization from the income distribution and labour aspects. Furthermore, this chapter covers and examines effects of globalization on low-income and developed countries. This chapter provides suggestions and recommendations on how to enhance welfare of the society at the local and global levels in the post-growth phase. This chapter is expected to be useful to policy makers, researchers, and academics.

The chapter examines the role of the UN Global Compact inspired Principles for Responsible Management Education (PRME) initiative, how it operates, and the role that signatory schools and regional chapters play in its continued development and evolution.

The chapter conceptualizes the PRME engagement model (a learning network, reporting to stakeholders, commitment to continuous improvement), and uses three case vignettes to illustrate the type of programs and activities that signatory schools and regional chapters have developed and how these endeavors contribute to PRME’s evolution and development.

As a way of thinking about the ability of PRME to achieve its intended goals, it is important to look at higher education (thought leadership) within the context of the world of practice in both business (practice leadership) and civil society (practice leadership). PRME signatories and regional chapters need to more fully engage in this “sustainable praxis triad,” extending the growing network of signatories and chapters within the academic community to include businesses and civil society organizations.

The chapter focuses on three vignettes to illustrate different activities and involvement in PRME signatory schools and regional chapters. More extensive comparative analysis across business schools and regional chapters throughout the world is needed to ensure broader dissemination of current practices and innovations.

Beyond teaching and a focus on the current generation of students, PRME has the potential for more immediate impact through student-based consulting activities, the transfer of research results to the business community and larger society, and ensuring that university campuses and operations are exemplars of sustainable practice. PRME signatories and regional chapters can work to ensure that relevance and rigor in research are not polar extremes but rather as praxis – the integration of academic thought leadership with needed stewardship and practice leadership in the larger society.

Transparency and communication are important first steps for change. As business schools and universities openly share their research, curricula and pedagogical innovations, and best practices for their campus operations, they contribute to a vivid and stimulating intellectual climate, through which society and all stakeholders will benefit. PRME can facilitate the ability of higher education to serve as a nucleus and crystallization for innovative solutions for a more sustainable future.

PRME is still a relatively young initiative. First evidence shows that the PRME initiative is successfully contributing to educating a new generation of managers who are better prepared for the global challenges of sustainable development.

Acquisition is one of key corporate strategic decisions for firms’ growth and competitive advantage. Firms: (1) diversify through acquisition to balance cash flows and spread the business risks; and (2) eliminate their competitors through acquisition by acquiring new technology, new operating capabilities, process innovations, specialized managerial expertise, and market position. Thus, firms acquire either unrelated or related business based on their strategic motivations, such as diversifying their business lines or improving market power in the same business line. These different motivations may be related to their assessment of market growth, firms’ competitive position, and top management’s compensation. Thus, it is hypothesized that firms’ acquisition decisions may be related to their industry growth potential, post-acquisition firm growth, market share change, and CEO’s compensation composition between cash and equity. In addition, for the two alternative acquisition accounting methods allowed until recently, a test is made if the type of acquisition is related to the choice of accounting methods. This study classifies firms’ acquisitions as related or unrelated, based on the standard industrial classification (SIC) codes for both acquiring and target firms. The empirical tests are, first, based on all the acquisition cases regardless of the firm membership, and then, deal with the firms acquiring only related businesses or unrelated businesses exclusively.

The type of acquisitions was more likely related to industry growth opportunities, indicating that the unrelated acquisition cases are more likely to be followed by higher industry growth rate than the related acquisition cases. While there were a substantially larger number of acquisition cases using the purchase method, the related acquisition cases used the pooling-of-interest method more frequently than in the unrelated acquisition cases. The firm-level analysis shows that the type of acquisition decisions was still related to acquiring firms’ industry growth rate. However, the post-acquisition performance measures, using firm’s growth and change in market share, could support prior studies in that the exclusive-related acquisitions helped firms grow more and get more market share than the exclusive-unrelated acquisitions. CEO’s compensation composition ratio was not related to the types of acquisition.

This chapter aims to help redirect Business and Society (BAS) scholarship to embrace the unprecedented challenges of the Anthropocene era including climate collapse and ecological breakdown. The existential risk presented by the new reality of the Anthropocene requires a radical rethinking of the purpose of business and its dominating working models. This chapter discusses the main problems of efficiency and growth and shows that business efficiency often results in aggregate ecological overshot. It is argued with Herman Daly that frugality, that is, substantial reduction of the material throughput, should precede business efficiency for achieving ecological sustainability. This chapter suggests new directions for BAS scholarship by highlighting three major issues, namely the scale of business activities relative to the ecosystem of the planet, short termism that is the discrepancy between the time horizon of business decisions and that of ecological processes, and inequality which is the result of current business models that are all about accumulation of wealth and not paying enough attention to distribution of wealth. The chapter concludes that the Anthropocene era represents a clear disjuncture and discontinuity from the past and business needs to find a new realignment to achieve a sustainable world. That realignment requires a drastic modification of business-nature relations.