Values Impact On Corporate Sustainable Development

Since the Communist Party of China's eighteen report was published,the sustainable development has been listed as the national strategy and the research of sustainable development has been paid increasingly attention.According to the “2011 Enterprise Accounting Firm China Long-term Incentive Investigation Report” released by PWC: in China,the average life expectancy of small and medium-sized enterprises is only 2.5 years and the average life expectancy of the group of companies is only 7-8 years as well.Therefore,it will be a very urgent task that exploring how to achieve sustainable development for Chinese enterprises.Considering the relevant literature,we find that it is relatively lacking that researching sustainable development from the perspective of strategic management.So it is very meaningful to study how the enterprise values affect the sustainable development of enterprises.Depending on such a qualitative research tool called "grounded theory",this paper selects the typical case of Beijing Tongrentang Refco Group Ltd as the research object,respectively attaining relationship between corporate values and sustainable development on the four stages from 1979 to present.It is found that the sustainable development about Beijing Tongrentang has a characteristics on the four stages: economic performance is increasingly high,social performance is increasingly comprehensive and environmental performance changes from passive to active.And it is concluded that the core of the values of Beijing Tongrentang is the spirit of inheritance,the pursuit of perfect quality,the sense of corporate responsibility and the sustainable development.Finally,we came to the conclusion that the corporate values impact the sustainable development by strategic choice and the theoretical model is that “corporate values-strategic choicecorporate sustainable development”.There are three innovations of this paper: firstly,this paper gets the relationship between corporate values and sustainable development from the strategic management.Secondly,this paper finds that corporate values can influence enterprises how to choose strategy and such strategy will influence sustainable development at last.Finally,grounded theory will enhance such case study normative and persuasive.