Sustainability Practices, Tri Hita Karana, and Village-Owned Enterprises: A Perspective from Bali, Indonesia

Indonesia is globally recognised as a country with a high diversity of local wisdom. A closer examination reveals that many local wisdoms in Indonesia are related to the values and practices associated with the sustainability concept. One local wisdom that aligns with the values and practices of the concept of sustainability is Tri Hita Karana, a local wisdom found in Balinese society. This chapter describes the manner in which local wisdom, exemplified by Tri Hita Karana, is aligned with the values espoused by the concept of sustainability. Furthermore, this chapter explains the implementation of sustainability practices in village-owned enterprises (VOEs), which represent a flourishing business organisation within the social community of Bali. This chapter presents a novel perspective on how local wisdom can inform the implementation of sustainability values and practices within the operations of VOEs. Furthermore, the emotional bond and social contract between the management of VOEs and the social community in the context of the implementation of sustainability practices will be elucidated. This chapter aims to build the new insights into the ways in which local wisdom, as developed within a social community, can inform the actions of a business organisation in the implementation of the sustainability concept.