Effective Governance And Sustainability : An Definition Of Sustainable Development

Sustainability from a strategic business perspective is the potential for the long-term well-being of the natural environment, including all biological entities, as mutually beneficial interactions among nature and individuals, organizations, and business strategies. (O.C Ferrell, Fraedrich, Ferrell, 2015). Business sustainably is often defined as managing the triple bottom line – a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet. (Business sustainability definition from financial times lexicon, no date). This essay will discuss the idea of sustainability being an important element within a businesses and its core strategies and the importance of it within different businesses. Secondly, this study will look at how different stakeholders are affected and influenced by sustainability as this could be seen as a catalyst to improving the environment as a whole and. Then this study will look at how businesses not focusing

The most commonly used definition of sustainable development is still that given in the report of the World Commission on Environment and Development (1987), i.e. sustainable development is ‘a process to meet the needs of the present without compromising the ability of future generations to meet their own needs.’ Sustainable development is therefore about creating a better life for all people in ways that will be as viable in the future as they are at present. In other words, sustainable development is based on principles of sound husbandry of the world’s resources, and on equity in the way those resources are used and in the way in which the benefits obtained from them are distributed (Making Tourism More Sustainable, 2005).

Sustainable development is defined as “Development that meets the needs of the present generations without compromising the ability of future generations to meet their own needs” (IISD, par. 1 ).

Nowadays, many international companies take sustainable development seriously. They understand that sustainable development can enhance their quality of life and their reputation in public. Sustainable development is "development that meets the needs of the present without compromising the ability of future generations to meet their own needs." (Brundtland, 1987) Sustainability requires monitoring and managing all the person to ensure that our economy and society can continue to exist without destroying the social and natural environment during development. The sustainability includes three pillars, which are economic, social and environment, forming a triple bottom line. The triple bottom line demands that a company 's responsibility lies

Sustainable development means that the present generations should be able to make use of resources to live better lives in such a manner that it does not compromise the ability of future generations. For sustainable development to occur, there needs to be sustainable economic, ecological and community development. Society needs to be educated about ways in which they can use resources, especially natural, in such a manner that it does not cause harm to the environment and put future generations lives at risk.

Sustainable development is the improvement that addresses the issues of the present without bargaining the capacity of future eras to address their own issues. It consists of two key ideas:

The current study will support the need to create new, environmentally sustainable and socially responsive organisations, whilst enhancing company values (Closs, et al; 2011). Decision makers will develop a positive attitude towards sustainable development. It will present an opportunity for the organisation to be pro-active in discussing sustainability issues and it will also present an opportunity for the organisations to partner with

In today’s business world, sustainability can make all the difference in the world. According to Tomson (2015), “sustainability has become an economic and strategic imperative with the potential to create opportunities and risks for businesses by creating new customer relationships, and inspiring new products and business models that drive growth. Consequently, companies that are, or aspire to be, leaders in sustainability are often challenged by rising public expectations, increasing technological innovation, continuous quality improvement, effective governance measures, high standards of ethics and integrity, and heightened social and environmental challenges” (p.1).

This definition is almost identical to that of the Brundtland Report’s view on global sustainability. Many organizations and corporations have since then embedded the Brundtland Report’s concepts of sustainability and sustainable development, whether it’s for genuine care for the world or the desire to increase positive publicity to consumers. But the process of determining and implementing the definition can be tricky as many struggle with twisting around the term with its broad and interpretable definition. Many arguments have surrounded the issue of when a company releases its sustainable development progress to the stakeholders, they will reap many advantages that are not usually associated with releasing this soft of data in an annual financial

Sustainable development is very important to our human being, meanwhile, it is one of the most significant developments for a company. The meaning of sustainable development is a “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” (Strange and Bayley, 2008, P24). Sustainable development actually is a synthesis that trying to find the way which can most benefit our current generation and future generation, thus, we have to consider the 3 pillars which are society, environment and economy because they are the three main aspects of human development. For example, we need an appropriate planet for us to stay and raise the food firstly, and in order to maintain equity and stability of the society, we have to balance work, culture and others which are related to people. Also, since these three pillars are interconnected, the economic pillar is very important,

Environmental and social sustainability is a growing concept, in the modern day business world. This essay will cover sustainability but particularly, will cover the following:

In this era of sustainable development, companies have realized the importance of adopting a corporate social responsibility and contributing their part in the development of environmental sustainability in the community that they are a part of. However, what is interesting to note is that many companies have found the

The need to link the economical development with a greater concern about our planet gave birth to a new concept of sustainable development, which identifies a progress compatible with the preservation of the environment and resources for the future generations.

There are many ways to obtain sustainable business success from ecological, social to sustainable economic growth. Many corporations have become more concerned with greater social responsibility. High sustainable companies have stronger convictions in governance structure in regards to the environmental, social and financial aspects of sustainability (Eccles, Ioannou & Serafeim, 2012). Understanding how to have success and sustainability may pay off in the long run of a company.

The actual definition of sustainable development may not be accepted by everyone but what is important is the recognition that sustainable development is about the balance of the connected Es, Economy, Environment, and Equity.