Sustainable Development and Businesses 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 has become a relevant word in the vocabulary of many organizations, governments and individuals. More than just a word, sustainability relates to the ability of institutions to continue executing their functions without forgetting the effects on the environment and taking into consideration the fair treatment of their employees and the human rights of society. Although sustainability is a widely used term by many individuals, the understanding of this term is not as clear as its popularity. When discussing the ideas of sustainability, most people automatically associate the term with the human impact on the environment. Others relate sustainability to the ability to cut costs and inefficiencies within the organization. A few individuals believe that sustainability is a matter of human rights. So what exactly is sustainability?

Businesses who participate in environmentally friendly practices will become more profitable. There are difficulties and costs that a business will face and profit takes time but is proven to positively impact a business. “The reluctance to address the forces that are polluting the planet always comes down to money (Smith, “6 Reasons Nations Don't Go Green.”). Implementing environmentally friendly practices within a company “will win them customers, and increase profits” (McDonald, “Why Do (or Don’t) Companies Go Green?”). Many global companies today carry out environmental management tools to adapt to environmentally friendly practices, which helps gain customers, and in turn becomes more profitable. In this paper, I will go into further detail explaining why businesses should be more environmentally friendly, the benefits to be gained, costs that come with being environmentally friendly, and management ways that help a company become environmentally friendly.

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

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.

LO1: Understand the principles supporting environmental sustainability in a business environment 1.1 Describe current legislation in relation to environmental sustainability in a business environment The UK’s economy relies on global trade and resources. Issues such as climate change and a growing world population mean there is more pressure on energy, natural resources and the wider environment. A more efficient use of resources such as water, energy and natural resources directly benefits businesses in the UK. Savings of up to £23 billion a year, reducing carbon emissions and more resilience to climate change and inflated prices of supplies are a few benefits that have been anticipated.

Sustainability is defined as the ability to endure.(1) Though the idea of sustainability can be applied to most anything from a sustainable ecosystem that has survived thousands of years to a sustainable workplace that uses green technologies. Paul Hawken captured today’s connotation of sustainability in saying “Sustainability is about stabilizing the currently disruptive relationship between earth’s two most complex systems—human culture and the living world.” (2) There are countless ways to live, work, and produce sustainably. Sustainability not only needs to be practiced by citizens, but businesses need to join the green movement as well. Without creating, following, and enforcing green policies, negative effects will be evident and innumerable

I attended a meeting last week with other faculty members. One of them let fly her/his opinion that “sustainability does not exist” or is, at best, a “bankrupt” notion that is basically a form of “greenwashing” and that sustainable development was a “joke.” Hmmm . . . . Please comment on that assertion. In the process, discuss the “big idea” of sustainable development, and more generally the concept of sustainability as applied to individual businesses. For that matter, what is a “sustainable enterprise?” Can being “sustainable” be good for business?

To a regular person, the global concern about ‘going green’ might appear as a result of speculation from nervous politicians and alarmed citizens. But the reality is totally different. In recent years, businesses have gained much knowledge about the impact of their activities on environment and in turns their customers. Businesses are successively venturing to earn greater revenues. In this process, they are trying out every best possibility to entice their contributors- from customers to investors. Regardless to say, stakeholders these days are more socially responsible than ever. So to keep up to their expectations, businesses are also trying to expand or limit their activities to save the environment- from doing relentless research on lowering waste to lean management and even trying out various eco-friendly activities. Despite of all these, the ultimate question remains unanswered if it is financially beneficial to adapt those initiatives that is going to serve the

Interesting question, I would like to start by saying that sustainability is a complete cycle that can be used to achieve a goal, whether it regards supplying products or operating an organization. Sustainability also touches on the very important issue of interacting with customers with the target of optimizing the benefits accruing from social, economic and environmental outcomes.

Communication of the high need of sustainability goals to all members of the company, Everyone needs to understand and be committed to ensuring that the same is met.

................................ 11 Management of environmental and social performance ......................................... 12 Guidance available .................................................................................................... 12 Appropriate strategies for management of environmental performance ............... 13 Life Cycle Assessment ............................................................................................... 14

“Sustainable” business practices are being touted, or even required, more and more by western society. What is ANZ’s sustainability policy and how is this congruent (or not) with cutting edge sustainability thinking and theory. Does this thinking and practice change across borders? And if so, how does the ANZ’s Australian head office engage with it? Does what they espouse align with the reality of their practice?

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.