Business Companies, Institutional Change, and Ecological Sustainability
Among institutional economists, Gunnar Myrdal is cited for his argument that values are always with us in social science research and K. William Kapp for his early study of 'the social costs of private enterprise'. In relation to environmental issues, a corporation could either ignore them following a business as usual strategy, modify its activities or radically reconsider its mission and practice. Models of organizations are discussed such as the Political Economic Organization which opens the door for a serious consideration of how the company can adapt to environmental issues. Environmental Management Systems is presented as a case of institutional change.