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Sustainable Business Analysis

Satisfactory Essays
Sustainable Businesses have become imperative to the corporate industry in part due to global environment awareness. Although sustainability is not a new approach to doing business, sustainable businesses see the value in contributing toward a sustainable society. Today businesses are creating a sustainable strategy aimed not only towards the environment, but have included how the business will operate in the social, cultural and economic environment. Some important practices of sustainable businesses are to be more efficient, attract and retain employees, improve customer and community relations, grow supplier commitments and gain investors’ confidence by doing what is right. Sustainability has already been embraced by consumers, employee, shareholders and stakeholders who are demanding value in products and services but have also become aware of the growing need to protect the environments’ future. One of the most quoted 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 consumer and employee value by not only creating a "green" strategy aimed towards the natural environment, but taking into consideration every dimension 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 goals. Seco...

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...re of sustainable business lies in long-term collaborations that redefine companies’ relationships with competitors, environmental activists, citizens and supplier. From product design and packaging, to manufacture, transportation and even the running of your office, every element of your business can be reshaped to maximize the resources you use and minimize the waste you produce. Businesses are often surprised at how much can be saved through simple, straightforward changes. Everyday more businesses are moving away from the traditional, linear model and successfully changing the way they work. As well as carving a solid reputation and position in the marketplace, companies are saving money. Sustainable operations, therefore, should treat the planet well but also treat people well, recognizing the basic human dignity in everyone regardless of race, class or gender.