Why Sustainability Is An Essential Part Within The Business World

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Despite the lack of understanding about sustainability in our modern society this concept has been adopted by many organizations around the world for centuries and it has significant meanings in the operation of the business world. The idea is to run a business in a way that guarantees the future security of the planet as well as the business by managing its monetary, environment and social frameworks effectively. Hence, the main goal of sustainable business is to continuously strive to have a positive social effect, a minimizing natural effect while maximize the financial bottom line and It could also be said that the business must focus on the long-term impact of these three dimensional areas of the triple bottom line planet, people and…show more content…
This development in interest in sustainability in business practices and its growing awareness creates a both side happy for business and humanity. (Hopwood, Mellor, & O 'Brien, 2005). Traditionally, most businesses had strong focus on factors that are directly effecting their economic performance. This was often examined by their overheads such as material costs, amount of sale and profit margin, which most Businesses did not consider the long term impacts. In fact, it is some sense true for short term aspect, however in contemporary society, companies play a vital role and should approach as it is also their responsibility to contribute to society and the environment also referred to as a planet, people and profit the triple bottom line. (Elkington 1997) and at the end every single investment business contributed will return in value to the business. (Kuehn, K. 2014). The Economic impact is not solely internally about local wage, jobs opportunities, investment in the economy but also looks at externally at suppliers to ensure they are involved in company’s similar practices and value. This will eventually lead to a healthier future for business while boosting its economy and local economy likewise economic component is the driver behind a company’s activity aimed at supporting business sustainability. (Svensson, Göran; Wagner,
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