Economically Sustainability Company
What is sustainability?
Sustainability refers to the notion that businesses require for long-term survival, in terms of economically, environmentally and socially. It is fully compatible with the natural ecosystems that generate and preserve life. This is to ensure that with social and environmental activities been firmly rooted, it can still be available for future generations usage.
Economically sustainability
Company managed economic sustainability through internal factors like investing in intangible assets whereby companies can invest in human capital training to enhance workers’ skills and knowledge for a more efficient output (Doane, 2001). With increased efficiency, customers’ buying power on a certain business brand also increases, thereby company is able to sustain their business.
Environmental sustainability
Some companies managed environmental sustainability by being environmental friendly such as Walmart who set 3 sustainability goals; creating no waste, selling products that sustain their resources and the environment and to be supplied 100 percent by renewable energy.
Socially sustainability
Companies managed social sustainability by being socially responsible to the environment as well as people. The examples are seen in retail shops like Body Shop who uses products that is against animal testing and Macdonald chain of fast food restaurant that employ senior workers to get them socially involved in work force again.
Why managers need to understand sustainability?
To sustain the business, managers need to give transparency to outsiders so that when there is reporting of the business information and growth to them, outsiders can use the transparency report to gauge how well the business is doing, the business investments portfolio and strategies they are adopting to sustain their business.
Efficient usage of resources and energy and applying of new technology to reduce and reuse industrial waste by the managers during
Sustainability refers to the notion that businesses require for long-term survival, in terms of economically, environmentally and socially. It is fully compatible with the natural ecosystems that generate and preserve life. This is to ensure that with social and environmental activities been firmly rooted, it can still be available for future generations usage.
Economically sustainability
Company managed economic sustainability through internal factors like investing in intangible assets whereby companies can invest in human capital training to enhance workers’ skills and knowledge for a more efficient output (Doane, 2001). With increased efficiency, customers’ buying power on a certain business brand also increases, thereby company is able to sustain their business.
Environmental sustainability
Some companies managed environmental sustainability by being environmental friendly such as Walmart who set 3 sustainability goals; creating no waste, selling products that sustain their resources and the environment and to be supplied 100 percent by renewable energy.
Socially sustainability
Companies managed social sustainability by being socially responsible to the environment as well as people. The examples are seen in retail shops like Body Shop who uses products that is against animal testing and Macdonald chain of fast food restaurant that employ senior workers to get them socially involved in work force again.
Why managers need to understand sustainability?
To sustain the business, managers need to give transparency to outsiders so that when there is reporting of the business information and growth to them, outsiders can use the transparency report to gauge how well the business is doing, the business investments portfolio and strategies they are adopting to sustain their business.
Efficient usage of resources and energy and applying of new technology to reduce and reuse industrial waste by the managers during