Principles of Responsible Management and Practice – It has become highly challenging for the business concerns to operate in contemporary business world and behaving in a socially responsible way is a major challenge. It was mentioned by Jain and Winner (2016) that customers and other stakeholders of organizations have developed positive attitude towards social responsibility and tend to purchase products from those companies who focus on sustainable business practices. It is important to analyze the role of business in the society with respect to 3 pillars of sustainability.
In this responsible management and practice report, the literature review is conducted. Also, the critical analysis of Nike (a private organization) with respect to sustainable development has been done. The social, environmental as well as economic impact of Nike on society is discussed in this report in critical way. Also, the recommendations have also been made along with the conclusion.