Sustainability and Business Need to Come Together

2235 WordsJan 29, 20189 Pages
Sustainability and business are not always looked as a good functioning pair. Businesses often struggle to implement sustainability measures, as they think that it is costing money to shareholders/investors. However, due to increasing pressure from the public, businesses are being forced to reconsidering at adopting sustainability and good business practice. In today's interconnected global economy, the long-term goals and success of business are inevitably connected by embedding the environmental, social and governance issues into corporate management, operations and supply chain. While corporate sustainability recognizes that, though the corporate growth and profitability are vital, it also requires the corporation to pursue societal goals, particularly those relating to sustainable development like; safeguarding environmental, social equality and economic development. (Wilson, 2003) Corporate sustainability can also be named as a new and evolving corporate management paradigm. The term ‘paradigm’ is used extensively, where the corporate sustainability is an alternative to the traditional growth and profit-maximization model. Sustainability is good for businesses both as a long-term strategy to improve employee trust, and as a short term abide to government legislation. Businesses with sustainability practices are also more attractive to the ethical investors, and recover the costs of managing sustainability through government grants and from increased sales. Ethical
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