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.
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 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
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
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.
The conduct or the operation of any business anywhere in the world brings with it a number of environmental concerns. These range from the emission of harmful gases, such as carbon (VI) oxide, into the environment and contributions to the depletion of the ozone layer, thus furthering global warming. It is however impossible to exist in this modern world without industries and business, as many would be unemployed and further lack various necessities due to a lack of industries and businesses (Forbes, 2011). Therefore, sustainability should be considered with regard for the environment in that actions should not adversely affect the environment to the extent that future generations will find it unlivable . Many of the leading organizations
Often times the focus is on the immediate profits and bottom line of the financials are driven by profit margins and immediate financial results. This tunnel vision can often times cause an organization to cut corners and not prepare for the long-term goals in sight. Whereas, providing a challenge in obtaining additional buy-in from businesses to support the overall cause, as well as, focusing on the longevity and long-term growth that the sustainable capitalism
Sustainability has been a difficult concept for companies to understand and implement. Sustainable development is a serious obstacle due to the fact that corporations are used to running their business the same way that they always have. Implementing a new process and operation takes time to understand and incorporate. In addition to learning a new way of business, corporations are faced with strict government regulations,
Sustainable business philosophies are a system of fundamental or motivating principles that a business handles in different areas of operation based on the actions or beliefs of that business. “For businesses to have a sound business philosophy is the cornerstone of a successful business” (Burney, n.d). The businesses philosophy is usually the company’s mission and vision statement, which explains the company’s overall goals and their purpose of being in business (Burney, n.d.). Mission statements are a guide for a company to develop and implement a corporate sustainability strategy and are usually incorporated in a company’s sustainability report (Epstein & Buhovac, 2014). Sustainable business practices are when a business initiates environmentally-friendly operations internally and externally to become a sustainable organization and to reduce their environmental footprint by cutting down on waste (Belcher, n.d.).
Ans:. Sustainable development refers to a mode of human development in which resource use aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come. The term 'sustainable development ' was used by the Brundtland Commission which coined what has become the most often-quoted definition of sustainable development: "development that meets the needs of the present without compromising the ability of future generations to meet their own needs."
In the international business arena, particularly as a result of globalization, multinational corporations are beginning to understand that being "green" or ecologically minded, is not simply for environmentalists. By supporting sustainability, many organizations hope not only to reduce their carbon footprint but also to attract younger people who prefer to work for environmentally and socially responsible organizations. This spills off into personal decisions as well, but includes a different philosophical mindset one of holism and treating the planet as one organism. The advantages of "going green" are both tangible and intangible: lower operating costs, less energy use, increased property value, and a positive, proactive, public image. Historically, there has been a battle from the so called "environmentalist cadre" who wanted slow or no growth in favor of the environment and the "capitalist right" who believed in a strong economy and the aggressive use of resources. In the contemporary environment, however, there is no doubt that both a template for robust economic growth can merge with a cleaner environment. Unfortunately, in many ways, sustainability in design and output is no longer something that would be "nice to implement," but because of the loss of biodiversity, over-use of the environment, and continuing overconsumption, is almost a necessity for the 21st century.
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.
A statement found in Brundtland Report, Our Common Future, released during the 1987 United Nations World Commission on Environment and Development defined sustainable development as a "development that meets the needs of the present without compromising the ability of future generations to meet their own needs". Authors Wes Harry and Ina Ehnert describe sustainable development in a unique way in their
Sustainable development is a central concept within the environmental frame of thought and closely linked to the problem of global warming. The term sustainable development refers to the use of resources in a sustainable way, namely meeting the need of resources while not depleting them for future generations. The concept of sustainable development contains both needs and limitations, i.e. resources that are needed as well as technological and social limitations in responsible retrieval of those resources (World Commission on Environment and Development, 41).
Sustainable development is the ‘development that meets the needs of the present generation without compromising the ability of the future generation from meeting their own needs ‘(Brundtland, 1987). This concept has developed more from the intergenerational framework as indicated in the brundtland report to incorporate the three pillars (social, environment and economic) as a whole through series of environmental meeting held.