Sustainable Business Model And How The Retail Industry Can Be Defined As An Entity

Sustainable Business Model And How The Retail Industry Can Be Defined As An Entity

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An enterprise can be defined as an entity that operates to seek profit and provide goods and services to the community at large. The business community consists of many different enterprises. Each enterprise is characterized by the type of goods and services that it aims to provide for its consumers. Through these processes, certain inputs and commitments are made to ensure the deliverance of goods that certify consumer needs. Throughout the years, the realization that businesses and the basic paradigm of trade and commerce have certain externalities that tends to render socio-economic progress on an economic, social and environmental standpoint. Academically characterized as having a sustainable business model, companies have been trying to find synergies between; profit making, social integration as a business and the preservation of the environment. The retail industry contributes to a significant amount GHG to the atmosphere. As a middleman between the producer and the consumer, the retail industry is heavily reliant on energy for both transport and storage of goods. Therefore, this paper will elaborate on the sustainable business model and how the retail industry can adopt it in their way of business as a middleman between the producer and the consumer.
The term sustainability was first formally coined in the Brundtland Report and was defined as the use of resources in such a way that the survival or future generations isn’t impeded. With this being the most talked about definition, the world therefore only associated sustainability with resource use and environmental depletion; its integration into the chain of production was minimal. Most business associated sustainability with mainly the idea of giving back to the comm...

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...ization, consolidation and centralization of business performance, sustainable business serves to encourage product development and distribution that is efficient, ecologically acceptable and profitable as a whole. Also, this model can be used a risk mitigation technique, for the forward thinking principle of sustainability, forces business to have a long term plan for their product. In the retail industry this can become an asset because retailers will be able to determine the predicted shelf life of a good and or service. Thus, they will then be able to estimate the level of money, labor etc that they have to inject to ensure the continuity of the business.
With sustainable business the retailer is forced to look at the full production chain of the product and analyze how best they can address socio-economic and environmental issues associated with their product.

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