Sustainable Business Success From Ecological, Social, And Economic Growth

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

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.

As we have seen an increase in awareness around sustainability and climate change, with the help of Al Gore’s Inconvenient Truth documentary in 2006, we see organizations moving towards mitigating the effects of climate change in various ways (Al Gore, n.d). As this corporate social responsibility has become more prevalent, organizations are now pushing their green agenda by publishing sustainability reports, doing mass marketing and implementing sustainable business practices to portray the image that they too are working towards protecting the earth’s natural environment all the while focusing on their underlying goal of selling their products and

This report will rationally and reasonably discuss the topic of sustainable business practices. Firstly this report will define what is meant by the term sustainability and its dimensions. Secondly examples will be provided to illustrate the ways in which ExxonMobil is operating in an ethical and sustainable manner. Thirdly this report will critically look at the area of environmental responsibilities to an organizations and what ExxonMobil is doing in that aspect. Finally this report will observe the importance for organization to be sustainable.

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.

The business case for sustainability is to try and prove that while decreasing a company’s environmental impact, they are in turn increasing their social impact, as well as their profits. The goal of the business case for sustainability is to enhance profits, comply with regulations, avoid future litigation, reduce resource use, reduce the waste stream, reduce energy use, increase customer satisfaction, increase employee satisfaction, and the good will of the community. In the past, destroying and polluting may have been good for business and the profit bottom line. But today, businesses that are “going green,” can save producers money and also be popular with consumers. With the growing demand for 'green ' products, major new markets have been created in which eco-entrepreneurs are reaping the benefits. Companies known for proactive policies that support environmental regulations are often positively recognized by customers, employees, regulators, the media and others. Because of their

Sustainability can be defined as ‘Adopting business strategies and activities that meet the needs of the enterprise and its stakeholders today while protecting, sustaining and enhancing the human and natural resources that will be needed in the future.’ (Labuschagne, et al., 2005) This essay will look at sustainability with the view of the triple bottom line, which is in some ways expressed in this definition with ‘human and natural resources’. By looking at the triple bottom line as concept developed by John Elkington, and cited by many scholars, the essay will look at the importance of each of the three elements (economic, social and environmental impact) to business.

During the semester, we learned a lot about corporate sustainability report in business and how important it is for people and environment. I realized the huge impact of this issue and some companies do a well job in sustainability. Economy, society, and environment are three major concepts in sustainability and play important roles in business world. All the companies are trying to achieve highest profits and market shares in their industry, but some of them ignore the environment and society which means they are not ethical or harmful to environment. Although they could gain profits in some way, their reputation will be damaged in a long-term period. Thus, finding a balance between those three initiatives becomes critical necessary to be successful.

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 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

Many of the world’s largest companies own land and have ties with endless communities, so corporations are the forefront of social and economic change that will determine if our society can become sustainable. Since multinational business run the world, sustainability within business is a way to initiate major change in terms of our society’s opinion and commitment to sustainability. As Richard T. Watson states in his book Information Systems, “organizations are the major force for innovation in most societies, and corporations in particular are major change agents” (Boudreau). This statement supports the theory that a company’s decisions within itself can and will determine the societies in which it is located. Some corporations are taking major steps towards becoming sustainable within themselves, therefore starting the change within our whole society. Understanding that corporations strongly determine our economy which is heavily correlated with our society makes it clear that businesses must be sustainable if we ever want our culture to be sustainable.

The business stakeholders, such as customers, employees, investors and local communities, expect companies to play a greater role in society and contribute to solving social problems and environmental challenges, such as climate change, energy scarcity, and social diversity and health risks. These expectations lead to social responsibility for businesses, but also open up new opportunities for these companies to improve their performance.

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.

Many entrepreneurs aspire to own or operate their own business. After deciding on the purpose and mission of the company, one must chose a form of organization for the business to operate under. These organizational forms include sole proprietorship, partnership, corporation or a limited liability company. Not only does this decision determine how many individuals are involved in the ownership of the business, but it also determines what laws, regulations and guidelines must be followed to ensure success and sustainability of a business.

* Businesses, corporations, stakeholders around the world have become aware of the needs and benefits of social responsibilities in order to contribute to a green and sustainable environment. Sustainable business is not only providing products and services that the customer wants but by not harming the environment at the same time.