Understanding Sustainability

In: Social Issues

Submitted By AgathaJUN
Words 869
Pages 4
Understanding Sustainability
We describe sustainability as doing business in a manner that contributes meaningfully to a healthy environment, to strong communities, and to economic prosperity, now and in the future. It can be measured in three ways, economically, environmentally, and socially. Companies economically sustainable have strong codes of conduct, willing to comply with government regulations and set timely and effective management policies. Companies who are environmentally sustainable focuses on ecologically reasoning such as reducing the percentage of pollution based on their consumption. A company that’s socially sustainable cares about the community in which it operates and engages itself in many humanitarian causes. More companies are pulling to be fully sustainable and cover all these measures to ensure they have great ethics.

Can it be profitable?
Many people wonder how companies maintain profit while being sustainable. Though being socially responsible doesn’t mean that these companies are losing profit. Instead CEOs of these companies realize that the value of their company increases due to identifying and responding to the demands of society. There has also been an increase in SRI, socially responsible investing. Even now companies can’t afford to not be social responsible with scandals or negative publicity. Companies strive to be cost effective using strategic planning whiel still maintaining to be sustainability, but many times this is masked by profit margins. Wal-Mart brings to term the quote, “An obsession with "the lowest price" without regard for any other issues, consequences or hidden costs is an act of self-destruction.”

Why do companies want to become more sustainable?
Most companies chose to become sustainable to reach new markets and reach a new efficiency in production of product. More consumers are becoming aware of…...

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