Sustainable Business
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Sustainable Business

Theory and Practice of Business under Sustainability Principles

Edited by Geoffrey Wells

Recent surveys of international CEOs confirm that companies increasingly see sustainability as critical to their business strategy. The rigorous academic framework for the field of sustainable business required to respond to this need is now emerging. This book presents important new work in the theory of the sustainable firm, in the application of sustainability principles to key management disciplines, in sustainable business in practice, and in the international challenges that are critical to sustainability demands.
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Chapter 9: Strategic risk assessment for pursuing sustainable business in the construction industry: diagnostic models

Theory and Practice of Business under Sustainability Principles

Nicholas Chileshe, Lou Wilson, Jian Zuo, George Zillante and Stephen Pullen


This chapter provides a broad overview of the sustainable business in practice, highlighting the necessary strategic risk assessment models desirable for pursuing sustainable business in the construction industry. Synergies are highlighted between the disciplines of project management through the underlying concepts of risk management, strategic management and organization behaviour (OB) in exploring the diagnostic models for pursuing sustainable business. The chapter reviews the literature and describes the strategic risk assessment framework in the form of a diagnostic model: a three dimensional framework which can be used for diagnosing the effectiveness of construction organizations intending to pursue sustainable business practices and other social systems. The framework can then be used to select an appropriate intervention. The concepts of agency and structure using the underlying saturation theory are utilized to provide the elements of a model to assess risk in the construction industry.

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