Sustainability From A Strategic Business Perspective Essay

When talking about sustainability numerous people associate it with just protecting the environment. Sustainability is far more than going green, but it is a principle that many companies have adopted and have worked persistently to improve over the last several years. Sustainability is defined as the ability to continue a behavior indeterminately, but it also includes improving human life overall. Sustainable development is broken down into three pillars: economic, social, and environmental (Harich & Bangerter, 2014). Economics is the study of how people use resources, which correlates to the goal of sustainable development by using resources to their full potential (Laszlo, C., & Zhexembayeva, N., 2011, p. 60). Economic sustainable development allows companies to give their customers what they want without overusing mutual resources. Social development combines the social world with the physical realm to provide a good quality of life (Benoit, 2010, p. 7). Social sustainability focuses on the well-being of people and their communities. Environmental development, the most recognizable, includes protecting the environment by reducing pollution, recycling, switching of electronic devices when not in use, etc. All three of these pillars make up what is known as sustainable development. In this paper, I researched a company and their involvement in sustainability and how it applies to the

Sustainability, within the business context, has transitioned from a pecuniary model to an ecological modernised ideology. However, such dynamic perspective from external and internal stakeholders, refurbished the sustainable development of businesses, incorporating a more intricate measure of economic, social and ecological perspective. Therefore, management has refurbished practices, incorporating the dimensional homogenisation of the Triple Bottom line theory through a model aspect to a practical development. In contrast, economic models solely incorporated in “special events” are noted as valid by governments. However, discussion from Sherwood, Jago, and Derry (2016: pg 16) suggest government reporting consist of “deceptiveness.” Thus,

Bertrand Piccard quotes, “In the 21st century, the heroes will be the people who will improve the quality of life, fight poverty and introduce more sustainability. This is a powerful message, it sums up the concepts discussed throughout the course. Additionally, the case studies such as the New Belgium Brewery, SC Johnson and The Kimberly Clarke organization have been proven to practice this philosophy. As society progresses in its efforts to provide a more sustainable future, there is a fundamental foundation of principles that must be followed to ensure success. Sustainable business development takes into account the application of business operations as it relates to the three pillars of sustainability, which is a dynamic yet integrative place to begin this journey. DesJardins, (2006) calls for a re-imagination of the future to create a vibrant sustainable model; which forms similar beliefs to Piccard. In addition, organizations are more inclined to create sustainable practices based on consumer demand and the willingness of leadership to participate in sustainability programs.

Business sustainability is achieved when the business successfully manages the triple bottom line. This is the process of managing the financial, social and environmental risk that a certain business will face. The consequences of business sustainability are not only the long-term success of the company but also that it becomes an appealing opportunity for potential investors as sustainability is rapidly becoming an increasingly vital component of any business.

Business sustainability, which originally was viewed as a question of corporate governance, has now emerged as a central, multifaceted theme of the twenty- first century. It is now the responsibility of corporate boards and managers to focus on business sustainability by creating enduring value for shareholders and managing the interests of other stakeholders, including creditors, employers, suppliers, government, and society at large.

Corporate sustainability is the capacity of a business to operate for long-term by creating shareholder value and managing risks derived from economic, environmental and social developments. For this purpose, companies need an appropriate system for the evaluation and measurement of their own performance towards stakeholders and for the communication of results achieved. According to Perrini & Tencati (2006), a company can creates value if it adopts managerial approach based on sustainability. It means that a company should not only consider and creates relationship with its shareholders, employees and clients but also creates relationship with suppliers, local communities, authorities and civil societies.

Sustainability is generating higher attention and growth in public awareness with each passing day. Sustainability issues are increasing concern to all living beings, as it is a growing agenda for the government legislatives. The media does not lose a chance to cover any aspect of the topic and thus we know that sustainability and business are now one of the hottest topics of the time.

As of the progress of society and technology development, sustainability has become a critical issue for the whole world as well as for the business. Although sustainability may mean different things for different people, the ultimate goal is to “meet the needs of people today without compromising

Despite the lack of understanding about sustainability in our modern society this concept has been adopted by many organizations around the world for centuries and it has significant meanings in the operation of the business world. The idea is to run a business in a way that guarantees the future security of the planet as well as the business by managing its monetary, environment and social frameworks effectively. Hence, the main goal of sustainable business is to continuously strive to have a positive social effect, a minimizing natural effect while maximize the financial bottom line and It could also be said that the business must focus on the long-term impact of these three dimensional areas of the triple bottom line planet, people and

Sustainability in general is ensuring that the resources needed for the future are preserved and do not run out today. It has become clear that the infinite wants of the consumer in today’s society has put a strain on the worlds resources, this means scarcity has become a greater issue. Scarcity in general is that there are not enough resources to meet the wants of consumers. As a result it has become more important for businesses to come up with new methods of producing renewable energy and reducing the amount of resources required in their production process. A way of measuring a business’s sustainability is how a firm conducts its triple bottom line. The triple bottom line consists of three elements a business will have to face, these

What is sustainability? There is a Native American proverb which says: ‘When the last tree has been cut down, the last fish caught, the last river poisoned, only then will we realize that one cannot eat money’. Defining sustainability is a challenge itself, achieving it is even more arduous but what it is certain are the consequences of not acting sustainable. For too long the main goal of western countries has been profit, ignoring the long list of benefits deriving from acting sustainable. The sustainability topic offers a wide range of arguments to discuss but in this paper only few of them are reviewed. It will be firstly analysed the ‘three legged stool’ model as a way of conceptualising sustainability and its stability. Secondly the aim is to examine the benefits deriving from businesses’ sustainable behaviour according to the introduction of the ‘triple bottom line’ framework. Conclusions follow.

It not only requires investments in green product and manufacturing technologies, employee skills, organizational competencies, formal management systems and procedures, but also in the reconfiguration of the strategic planning process. To date, existing approaches are still so fragmented and disconnected from business strategy in such a way as to obscure many of the greatest opportunities for companies to benefit society via such an approach (Porter and Kramer, 2006). Yet, it has been suggested that if corporations would analyze their prospects for environmental responsibility using the same frameworks that guide their core business choices, they would discover that environmental management can be much more than a cost or a constraint; it could, in essence, be a source of opportunity, innovation, and competitive advantage (Porter and Kramer, 2006).

Corporate groups has important role in today’s global business and its sustainability can contribute significantly to present and upcoming accomplishment of organizations. A major success factor for change towards sustainability in corporate world is incorporation of environmental, economic and societal goals. This incorporation is an important achievement, however it require a systematic approach which itself is a major challenge for organizations. Therefore, there is a significant need to acknowledge subject’s related to sustainability, which should be integrated into the business educational programs, especially in business administration streams. The present article is based on a research conducted in Monash University’s MBA program (one out of the 50 best worldwide MBA programs) which demonstrates that more than seventy percent of these courses provide sustainability related subjects (Christensen et al., 2007). According to Christensen et al., (2007), a present discussion is whether sustainability related subjects ought to be incorporated into the main course of students pursuing MBA or whether it should be a separate optional subject. Thus the main aim of this article is to define a structure or outline utilized in educating and supporting business students to comprehend and reconcile the diverse sustainability viewpoints, which will inspire them to examine in detail about their assumptions in business, ecology and society.

Introduction: The world and Business environments are ever changing. More than ever, sustainability is the key to giving businesses a competitive advantage in today’s economy – not just financially but also socially and environmentally. Sustainability is defined by the World Commission on the Environment and Development as “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” The key to sustainability is the concept of the Triple Bottom Line or the three P’s. The Triple Bottom line requires that a company not only be responsible for making a Profit, but also requires them to be considerate of the Planet and People (employees

A “green” business strives to have a positive impact on the environment and community. It develops and practices business strategies that go beyond