Sustainable Business Strategy
Contents
INTRODUCTION
Sustainability is a very powerful and defining idea. A sustainable corporation creates profits for its shareholders, but at the same time takes steps to protect environment and improve the lives of those who are in interaction with it. The report is prepared with an aim of increasing awareness of issues that affect sustainable business development and how it impacts strategic advancement of business. Various global sustainability agenda like Agenda 21 has been discussed (Hagel and Brown, 2005). Report also helps in understanding the notion of a sustainable organization and analyses as to what can be the effects for a business to become sustainable. The study will also help in determining what changes may be required in an organization to meet its objective to become sustainable.
LO 1
1.1
Sustainability is the ability of environment and society to bear depletion in quality of natural environment and resources. There are three pillars to sustainability – environment, social equity and economic demands. Concept of sustainability deals with living within limits; comprehending interconnections among society, economy and environment (Rogers, 2001). Being sustainable means creating and maintaining conditions in which humans and nature can co-exist in harmony, fulfilling the social, economic and other necessities of present and future generations. In the current scenario, sustainability is of utmost importance, as most of the world’s resources have been consumed and ones which are left are at the verge of extinction (Vives and Svejenova, 2011). ‘Human Activities’ are putting so much strain on natural functions of earth that the ability of planets’ ecosystem to sustain future generations will become extremely difficult. Currently, the world is consuming oil at a massive rat which has led to increase in oil production. But, with depletion of the natural reserves, it has become tough to find new sources from where natural oil can be
INTRODUCTION
Sustainability is a very powerful and defining idea. A sustainable corporation creates profits for its shareholders, but at the same time takes steps to protect environment and improve the lives of those who are in interaction with it. The report is prepared with an aim of increasing awareness of issues that affect sustainable business development and how it impacts strategic advancement of business. Various global sustainability agenda like Agenda 21 has been discussed (Hagel and Brown, 2005). Report also helps in understanding the notion of a sustainable organization and analyses as to what can be the effects for a business to become sustainable. The study will also help in determining what changes may be required in an organization to meet its objective to become sustainable.
LO 1
1.1
Sustainability is the ability of environment and society to bear depletion in quality of natural environment and resources. There are three pillars to sustainability – environment, social equity and economic demands. Concept of sustainability deals with living within limits; comprehending interconnections among society, economy and environment (Rogers, 2001). Being sustainable means creating and maintaining conditions in which humans and nature can co-exist in harmony, fulfilling the social, economic and other necessities of present and future generations. In the current scenario, sustainability is of utmost importance, as most of the world’s resources have been consumed and ones which are left are at the verge of extinction (Vives and Svejenova, 2011). ‘Human Activities’ are putting so much strain on natural functions of earth that the ability of planets’ ecosystem to sustain future generations will become extremely difficult. Currently, the world is consuming oil at a massive rat which has led to increase in oil production. But, with depletion of the natural reserves, it has become tough to find new sources from where natural oil can be