Essay on Making Sustainability Work in the Business World

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 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

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.

At present companies are inclined to focus on sustainable development as well as sustainability, which brings with it changes to the corporate culture as well as society. Sustainability has three important dimensions for all companies: economic growth, social responsibility and responsibility for the environment. The social and environmental responsibility, however, cannot become separated from economic growth. Profitability and growth create jobs and wealth; companies have to continue to provide products and services that people need. To understand the characteristics of sustainability, first step is to building the ability to prove how expansion of knowledge can be used in support of employers and public interest. IFAC in 2008 has defined sustainability, sustainability is all about :

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As mention above, TBL not only focusing on the financial return from its investments, financing activities and operating activities but also the environment and social value they has been added/destroyed. It’s considered as successful guideline for organizations which are expected to participate in ethical dialogue with stakeholders to make business decision that will benefit the economy as well as society improvements and planet.

If we were to ask 5 different people the definition of sustainability, we would receive 5 different answers. However, the triple bottom line is a typical concept used often when talking about the subject of sustainability within a business. John Elkinston, a global authority on corporate social responsibility and sustainability coined the phrase for the first time in his book ‘Cannibals with Forks: The Triple Bottom Line of 21st Century Business’, in 1997. His argument was that the methods by which companies measure value should not only include financial bottom line, profit or loss but also a social, economic and environmental one as well (John Elkington, 1997). The concept has evolved into one that often has 3 overlapping circles which indicates that sustainability is typically defined as the place where economic success, social responsibility and environmental protection are all as significant as each other in business. In other words, the concept of the triple bottom line mainstreams the idea of sustainability as including people, planet and profit. It allows a business understand that a long term sustainability in an organisation requires more than just financial equity. It also helps to clarify that when businesses consider what sustainability means for them, it doesn’t mean that they had to give up the notion of financial success (Katz, RAK., Page, AP, 2013, Pages 852-855). The public is not satisfied with organisations who mainly concentrate on short term profit

In today's business world, the concept of sustainability has become paramount for sound practice. Indeed, any company that publicly makes itself liable to unsustainable practice tends to be maligned by its customers and rivals alike. Human-created environmental disasters such as the one involving BP recently proves the point that companies can no longer take a cavalier attitude towards environmental concerns. For this reason, an increasing amount of business leaders are focused upon increasing the sustainability of their business. Indeed, in the long term environmental sustainability also means business sustainability. This is a philosophy that Gary Hirshberg, leader of Sonyfield Yogurt, has accepted since the inception of his business. By means of sustainable and charismatic leadership practices, Mr Hirshberg has managed to create a business that is both environmentally sustainable and stable in terms of longevity, customer, and stakeholder relationships.

Case studies provide a powerful tool for exploring and communicating how decisions are made by organizations and what outcomes have been achieved. However, due to limitations in time and resources available, this Study is not an all-encompassing, comprehensive study. This Study is also not an audit. Our aim is to provide a ‘ snapshot’ of EG’s attempts to makes its operations more sustainable. The Study therefore focuses on the specific situations and scenarios initiated and implemented by EG that represent sustainable development. By presenting a snapshot, we hope to assist the company in identifying areas it may need to focus on to further integrate sustainability measures into its day-to-day management processes in the future. We also hope that the methodology developed as part of this Study, which is relatively simple and low-cost, can easily be used by many organizations to help them become familiar with what sustainable development means in practice. This approach may be a useful first step for organizations to identify and measure their sustainability before embarking on lengthy and expensive professional assessments and audits.

The first thing in relation to this topic is to ask what sustainability is. Well according to the oxford English dictionary Sustainability Is ‘the ability to be maintained at a certain rate or level.’ But how is this relatable to a business context? According to Business world Inc. they define sustainability as ‘Business sustainability 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.’ (Gatley, 2010)

As the fast development of the global economy, sustainability has been recognized as one of the main challenges that many companies have to overcome in the 21st century. In

Sustainability is more than corporate social responsibility. It is a challenge to companies, how they grow and make more profit without harming the environment, society and efficiencies of the employees.

Max Weber believed in the power of an idea. This political theorist discussed how Calvinism was one idea that perpetuated the rise of capitalism. Few people ever examine the power of an idea, but if one examines and contemplates this theory, a realization comes across: that ideas drive society. The key premise is that some values of our society must be altered in order to avert catastrophic consequences. The way of life in developed countries is "the origin of many of our most serious problems"(Trainer, 1985). Because developed countries have high material living standards and consume massive quantities of all resources, "hundreds of millions of people in desperate need must go without the materials and energy that could

Globally, organisations are being pressurised to adopt sustainable business practices to mediate the impact on the environment in regard to issues such as climate change, population growth, poverty and resource depletion (Gladwin, Kennelly, & Krause, 1995). The way different organisations and industries integrate sustainable solutions into strategies, systems and technology, is dependant on their particular structure and individual culture (Stoughton & Ludema, 2012); in addition to the internal and external drivers, and barriers, that arise in response to dynamic economic and ecological circumstances (Rauter, Jonker, & Baumgartner, 2015). As stated by Stoughton and Ludema (2012), the motivational reasons organisations apply in pursuing sustainable initiatives are varied and often antithetical yet typically fall into three categories of profit, legitimation or ethical concern (Bansal & Roth, 2000); the barriers to operationalising sustainable initiatives are clustered in the same categories. Sustainable development will remain as admirable intention unless the motivations are operationalised and integrated into organisational strategy and culture, and in turn, reified by stakeholder groups and individuals (Lueg & Radlach, 2016). Gladwin et al., (1995) recognise that the situation can be shaped for mutual gain, as embraced by the sustaincentric paradigm, whereby it is impossible to separate a robust economy from a thriving natural environment. By aligning resource efficiency,

In today’s business matter, numerous perspectives emphasize sustainability. Several environmental, social, and governance issues, including health and safety among other factors, have contributed to the diverse aspects of sustainability. The complex business reforms brought by the Environmental, Health and Safety (EHS), including social and governance (ES&G) issues remain indistinctive in several disciplines. Some widespread proposals exist over the application of, ES&G and EHS management practices and methods. To understand sustainability, it is essential to discover how it has emerged and maintained a business focus.