Sustainability Related Issues in Business Society

Running head: SUSTAINABILITY RELATED ISSUES IN BUSINESS SOCIETY
SUSTAINABILITY RELATED ISSUES IN BUSINESS SOCIETY
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1SUSTAINABILITY RELATED ISSUES IN BUSINESS SOCIETY
Reflective Journal on Sustainability
Sustainability is definitely not a term, which is new to me, but it is the only related to the
urban development in many countries. I discovered that sustainability can be related to many
things, not only to the urban development’s but also business and our lifestyle. The way we live
can seriously impact that how long the planet can last for. Arguably, it can be said that
sustainability is the greatest challenge to the present and future management practices of an
organization. The economic, environmental and social factors raises the question of meeting the
present needs without compromising to the future generations. I think that the global
environment, which is presently tackling, needs to address the issues which are faced by the
corporate, private, individual, public and nonprofit organizations. Therefore, every sector should
prioritize their network of global sustainability across multiple areas.
Having now caught up with some interesting topic which mainly deals with controlling
the environment bottom line, managing and monitoring and reporting the consumption and waste
of emission from the business organization. This is the work of the EHS department of the
business organization which uses the sustainable business models and makes the reduction in
waste and apply the green policies of the company (Nicolescu,2018). The economic
sustainability approach of the bottom line strengthens the economy of the business organization,
which helps the company to earn success for the future, since it also contributes to the overall
economic health support of the company.

2SUSTAINABILITY RELATED ISSUES IN BUSINESS SOCIETY
I consider that a correct measurement help the management to track the performance with
the past performance of the company. Such measurement will offer the external investors
benchmarks who are concerned with the performance of the firm and with the environment.
However, the types of measurement tools are adequately used to measure the cost of the firm’s
emissions and wastes. I am more interested in founding out that Capitalism in an economic
factor emphasizes the importance of the private property and private ownership of the means of
production in an business organization. The Internal Economic Capital includes the financial
capital, which is available through the funding including the debts and equity finance, and to the
nonprofit organizations, it values with the brands (Sneddon, Howarth & Norgaard, 2016).
Whereas,the External economic Capital takes into account the impacts of an organization it has
on the financial and non financial capital of other entities for example a new manufacturing
company can reduce or increase the value of its real estate in the nearby market or community.
Natural Capital includes all the natural resources, which an organization relies on, it also
includes the ecosystem services such as the climate regulations. I also consider the Human
Capital which includes the knowledge, skills, health, attitudes and motivation of the individuals
in an organization. Also the Social and relationship Capital consists of the teams, networks and
other groups of individuals who are working together in an organization and their shared capital
to the organization. Last but not the least the sixth form of capital which is the Constructed
Capital generally includes the materials, objects, systems and ecosystem which are created or are
cultivated by the individuals working in the organization. The human nature of being competitive
and motivated by the self interest suits the capitalism context. Furthermore it can be said that
with unrestrained market people these days get what they want. However due to the law of
supply and demand threes always an invisible hand in the control of capitalism.