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Business: The Importance Of Sustainability Principles

1159 Words5 Pages

Introduction:
Business sustainability is often defined as managing the triple bottom line - a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet.
Introducing sustainability is one of the key values which every business must abide to. It is said to be one of society’s promising means to safeguard natural resources and the eco system. Sustainable business is environmentally and socially aware business strategies and operating practices that both helps the various firms to contribute to a cleaner and healthier world at the same time pave way to make profitability. Firms that succeed with sustainable business …show more content…

Principles ideally guide an organization throughout all its business activities, in all circumstances, irrespective of changes in organizational goals and strategies, types of work, or top managers. Principles underlie the attitudes and beliefs that often are referred to as the "culture" of the organization. When understood and applied across an organization, principles provide a powerful and integrated philosophy of leadership.
Sustainability principles can be of 2 types:
 Operational principles
 Strategic principles
Operational principles deal with questions pertaining to how we deal with business on a day to day basis. It includes the following:
• Good employer: the organisation should ensure employee satisfaction, development and well-being. Management should ensure fairness and equity in all aspects of employee relationship. The working environment should be free from harassment, discrimination or bullying.
• Environmental responsibility: the organization should limit its operations in an environmentally efficient way.
• Community contribution and fairness: the organization should ensure that the community in which it operates is uplifted and helps to make it a better place to live and operate

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