Sustainable Business: Importance of Sustainable Development in Contemporary Times

Running head: SUSTAINABLE BUSINESS
Sustainable Business
Name of the Student
Name of the University
Author note

1SUSTAINABLE BUSINESS
Introduction
The notion of sustainable development of the business organization has been receiving
increased recognition in contemporary times though for many business leaders it is a new
concept. In general, the majority of the concepts are theoretical and abstract. Many business
organizations nowadays are integrating sustainability principles into their operations of business
in active manner and they are doing so by chasing the targets to get rid of the concerns regarding
their reputation in the global market regarding environmental sustainability (Day, 2016). These
targets or goals include developing green products, saving energy, retaining and motivating the
existing workforce of the business organization and many more (Welford, 2016). I believe that
all these activities will help the managements of the business organizations to capture value
through growth and to return on capital. In this regard, I believe it can be said that various
sustainability programs which were conducted within last five years, made a significant
contribution to satisfy various business organization’s long and short time targets regarding
sustainability.
Discussion
I strongly believe that environmental problems are substantial in nature, it has become a
cliché phrase and the managements of various business organizations should look at it with
necessary caution, otherwise opportunities for various businesses may be refrained (Kolk, 2016).
In this context it should be mentioned that ecological footprint measures the demand of human
on nature, for an example, it can be said that ecological foot print is the quantity of nature it takes
to support the humankind. It can be best defined as biologically productive area required for
providing everything that is used by the humankind.

2SUSTAINABLE BUSINESS
There are a range of forms of development which are socially and environmentally
sustainable. These forms of development do not lead to a trade off but it leads the organization to
the path of improved environment, and along with the environment which does not draw down to
the environmental capital. I have observed that the societies and business organizations may find
various approaches that can effectively shift towards all the three goals which are social well
being, economic development and environmental protection. Sustainable improvement is good
business in itself as it invokes various opportunities for the individuals who supply for green
consumers, business organizations that invest in eco-efficiency, developers of safe material for
environment and processes and also for those individuals who engage themselves in social well
being. It is a matter of fact that these organizations who follow sustainable development will
soon gain a competitive advantage in the market of their operation by earning the local
community’s good will and also by looking at their efforts in the bottom line.
Following sustainable ways of development of the business organization has various
positive aspects. It is seen that in the last decade, the there have been ample of surveys and polls
to confirm the importance of sustainable development in business sector and it is seen that only if
a business organization has an irresponsible board of directors, then they will not choose
sustainable ways of development for the company by not recognizing the requirement to
incorporate various environmental considerations into different stages of the business. When the
business leaders introduce environmental considerations in the stages of their business
operations, it will bring in various opportunities for the leaders to develop their business (Huckle
& Wals, 2015). I have seen that nowadays numerous business leaders nowadays are exhibiting
that pursuing sustainable development strategies would make good business decision and for an
example it can be said that a 3M manufacturing company have scaled down the wastewater