Sustainability And A Business Context

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, specifically larger corporations, play a major role in what occurs in society therefore, they are responsible to their stakeholders not only to pursue economic goals but the greater social good as well. Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. (Lawrence, 2010). Social responsibility is becoming the norm so much so that some businesses have incorporated it into their business model. There are three components of the bottom line of social

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

In the article, “The Social Responsibility of Business Is to Increase Profits,” Friedman states that “businessmen believe that they are defending free enterprise when they proclaim that business is not concerned merely with profit but also with promoting desirable social ends.” This social responsibility is defined as Corporate Social Responsibility (CSR), which is the belief that “corporations owe a greater duty to their communities and stakeholders” by having a “social conscience.” This, among other things, includes being environmentally responsible, contributing to non-profit organizations, and eliminating discrimination.

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.

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.

The expectation that businesses behave responsibly and positively contribute to society all while pursuing their economic goals is one that holds firm through all generations. Stakeholders, both market and nonmarket, expect businesses to be socially responsible. Many companies have responded to this by including this growing expectation as part of their overall business operations. There are companies in existence today whose sole purpose is to socially benefit society alongside businesses who simply combine social benefits with their economic goals as their company mission. These changes in societal expectations and thus company purpose we’ve seen in the business community over time often blurs the line of what it means to be socially

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.

Another argument often used against sustainable entrepreneurship is the price increase of products. Opponents claim that customers will choose for a low price instead of for a more expensive, though sustainable and green product or service. And of course this assumption may apply to some products; on the other hand, opponents seem to completely ignore the increasing awareness of new values of the modern educated customer. It is not enough any more for a product or service to just meet traditional business criteria, such as functionality, quality, fashion and price. Nowadays, people who can afford it in the developed world expect at least a basic level of sustainability of the products they buy as well as of their manufacturers. Research shows that almost 75 percent of the customers indicate that there is too little background information about products and services (Lageweg et al., par.5). Providing reliable and clear information about sustainability maywill benefit for the competitiveness of many organizations. I believe tThe market for sustainable products and services will continue to grow and someoon customers will simply refuse to purchase things ifof which the origin is not known as education increases across the world.

The greatest challenge faced by many organizations today and especially the labour intensive industries is ensuring there is a sustainable

Sustainability implies that the organization is managing in economic, ecological and socially competent ways. All organizations range on a continuum of their sustainability level with some being more sustainable than others. Generally, as Dunphy, Griffiths and Benn (Module One, Topic 1.5) point out, the more sustainable an organization is, the more they help the surrounding environment, be this local (the particular country) or macro (the world itself). The environment also reflects the sustainability ethos and situation of the organization itself.

There are three pillars that make up overall sustainability: social, economic, and environmental sustainability. Social sustainability focuses on all human needs being met and a society functioning properly indefinitely. Economic sustainability is achieving a certain level of economic success indefinitely. It also involves having an extremely low percent of people living below the poverty line, which relates to social sustainability. Environmental sustainability is described as, “the rates of renewable resource harvest, pollution creation, and non-renewable resource depletion that can be continued indefinitely.” ("Finding and Resolving the Root Causes of the Sustainability Problem", 2014) Achieving environmental sustainability will positively affect the social and economic aspects. These three categories are directly related to each other, and to truly reach complete sustainability each of the group’s needs must be met. There are many ways for individuals, groups, companies, and societies to help make a difference in reaching this goal. Environmental issues are currently very prominent in the US and other countries. There are countless activists and researchers doing everything they can to make a difference. Most businesses, like

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue

Sustainability when we try to understand in the context of corporate is recognizing that the corporation’s long