Don’t Put Your Business at Risk
Posted on 22. Mar, 2010 by admin in Green Business
The concept behind sustainability is as simple as it is compelling: resources may only be used at a rate at which they can be replenished.
When most people see the word “resources,” they think immediately of natural resources. But in order to thrive businesses actually need three types of resources: environmental (e.g., natural resources), social (including employees, customers and general societal goodwill) and economic (money).
In fact, these three factors comprise a common definition of business sustainability: increasing short- and long-term profitability by holistically managing economic, social and environmental risks and opportunities.
This definition is relevant both in times of recession and economic growth because the main drivers of sustainability don’t change. The three factors have been the drivers of business success since mankind has been engaged in business endeavors. While sustainability may seem to run counter to the profit-maximizing doctrine of running a company, this concept of creating sustainable business processes is increasingly seen as a key to long-term success.
Organizations can work toward sustainability in many ways, but to be truly effective sustainability initiatives cannot stand alone. They must transform the organization as a whole. This takes individual and coordinated efforts from many segments of a company.
Read entire article at GreenBiz.com
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