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Essay / Sustainable Business Analysis - 1802
Sustainable businesses have become an imperative for the business sector, in part due to global environmental awareness. Although sustainability is not a new approach to business, sustainable companies see the value in contributing to a sustainable society. Today, businesses create a sustainable strategy that not only focuses on the environment, but also includes how the business will operate in the social, cultural, and economic environment. Some important practices of sustainable businesses include being more efficient, attracting and retaining employees, improving customer and community relationships, increasing supplier commitments, and earning investor trust by doing the right thing. . Sustainability has already been embraced by consumers, employees, shareholders and stakeholders who demand value in products and services, but who have also realized the growing need to protect the future of the environment. One of the most cited definitions of sustainability comes from the United Nations Brundtland Commission in 1987: “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” » Business sustainability creates a long term. -value term for consumers and employees by creating not only a “green” strategy focused on the natural environment, but by taking into consideration all dimensions of how a business operates in the social, cultural and economic environment. According to a recent study in the Ivey Business Journal, a business model must combine and continually maintain four elements to achieve sustainability (Holdsworth, 2010). The first sustainable development is necessary for economic growth and societal progress which defines the company's objectives. The second middle of paper......sustainable business lies in long-term collaborations that redefine companies' relationships with competitors, environmental activists, citizens and suppliers. From product design and packaging to manufacturing, transportation and even management of your office, every element of your business can be redesigned to maximize the resources you use and minimize the waste you produce. Businesses are often surprised at how much savings can be made through simple, straightforward changes. Every day, more and more companies are moving away from the traditional, linear model and are successfully changing the way they work. In addition to building a strong reputation and market position, businesses save money. Sustainable operations must therefore treat the planet well as well as people, recognizing the fundamental human dignity of everyone, without distinction of race, social class or gender...