Sustainable Business Management: Aspects, Impacts, and Practices

This report discusses sustainable business management practices and their impact on business sustainability. It covers aspects and impacts of business practices on sustainability, environmental management systems, and benchmarking against national and international industry norms. The case study of University of Bedfordshire is used to illustrate these concepts.

Sustainable Business Management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Demonstrate an understanding of the aspects and impacts of business practices on business
sustainability................................................................................................................................1
Use an environmental management systems approach to carry out an on-site initial review,
measure current impacts and report on findings..........................................................................3
Be able to benchmark current sustainable business practice against national and international
industry norms.............................................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Sustainable business management can be describe as the study that is significant for
increasing long term economic, environmental as well as social values that will lead to affect
business. It is essential for companies to consider sustainable management practices so that it is
able to enhance and increase business performance (Goni and et.al., 2021). This type of practices
is useful for growth and development of business with the maintaining proper sustainable
initiatives. This report is based on University of Bedfordshire. This University is conducting
different practices for maintaining and enhancing sustainable business practices as well as
attaining desired goals. In this report different aspects and impact on business practices on
business sustainability has been determined. This report consist of environmental management
system approach in order to carry out an onsite initial review measure current impact. Apart from
this, current sustainable business practices against national and international industry norms have
been identified.
MAIN BODY
Demonstrate an understanding of the aspects and impacts of business practices on business
sustainability.
Business sustainability will lead to have major positive impact on business and it will lead to
influence performance and productivity of business. It is essential for organisation to consider
business sustainability aspects as this will help in increasing overall activities of business. It has
been determined that University of Bedfordshire is considering sustainable business management
practices while conducting its activities and task. Due to this it is able to develop positive image
in market area as well as successfully conduct its activities. There are different aspects which
will lead to have influence over business sustainability activities (Mattera and et.al., 2021). it
has been identified that sustainability and the drive to go green or conserve helps in enabling an
organisation to attract more customers, employees as well as other stakeholders which will
1

directly affect functioning of business. this is helpful for improving the view of public regarding
the business as well as its offerings. It has been determined that it will lead to have major impact
on bottom line over time and it will directly affect long term and short terms goals of business.
University of Bedfordshire will be able to gain several advantages with the consideration of
effective business sustainability practices in market area. The major aspects of sustainability are
human, economic, social and environmental. All of these are consider as the crucial pillars of
sustainability which needs to be consider by business while conducting and performing its
practices in market area. Human sustainability is significant for maintaining as well as improving
the human capital with in the society (Dentoni, Pinkse and Lubberink, 2021). This is including
investments in the health and education system with the motive of access to services, nutrition,
skills as well as knowledge. Social sustainability includes the aims of preserve social capital with
the motive of investing and creating services that constitute the framework of our society. The
aim of economic sustainability is to maintain the capital intact and this is focusing on improving
the standards of living. Environmental sustainability aims at improvement in human welfare
through the protection of natural capital. The major benefits of sustainability in the business are
mention below in detail.
 Reduce the cost of business – The major benefit of sustainability is that it will assist in
reducing the cost of business. It has been analysed that through the support of effective
and efficient sustainable business activities it will be able to lower the cost of conducting
business activities. Through this business effectiveness and capability to conduct its
operations increases and it will lead to have major impact on overall performance of
organisation. it has been determined that the business which are integrating sustainable
practices are significantly able to improve operational efficiency as well as able to cut the
cost of business. This will lead to have positive impact on organisation as well as
accomplishment of desired goals and objectives.
 Gain competitive advantages – It is essential for company to focus on gaining
competitive edge over other rival companies as this will lead to have direct impact on
business. It has been analysed that sustainable business practices will help in gaining
competitive advantages over other rival companies and it will lead to increase business
practices (Ullah and et.al., 2021). University of Bedfordshire can be consider as the
leader of the other universities as it is considering different types of business activities for
2

encouraging and improving social and environmental sustainability. The business
practices will have major impact on the respective university to enhance and improve its
functioning as compare to other universities in the market area. It has been identified that
this will help in attracting skilled as well as motivated workers with the aim of driving
financial success.
 Improve reputation of the brand – This is one of the essential impact on business
sustainability practices of the organisation. It has been identified that through the
consideration of effective and efficient sustainable practices University of Bedfordshire is
able to improve its brand reputation. There are major advantages of increasing brand in
market area as it will lead to have direct affect on business. Through the consideration of
sustainable business management practices respective university will be able to present it
as the more developed and positive brand which is focusing on the different aspects of
the environment.
 Increase bottom line – It has been determined that increase in the bottom line is one of
the crucial impact on business practices of sustainability (Mercuri and et.al., 2021).
Through the support of effective sustainable practices University of Bedfordshire will be
able to earn more money as well as boost its bottom line. There will be reduce in the cost
of business as well as increase in the profitability or productivity of business. There will
be more innovative strategies with in the business that will help in smoothly and
effectively conducting required set of activities.
Use an environmental management systems approach to carry out an on-site initial review,
measure current impacts and report on findings.
Environmental management system approach can be describe as the set of processes as well
as practices that assist company to reduce environmental impacts as well as increase its operating
efficiency. This is useful for providing information as well as resources required to successfully
and effectively implementation of environmental management system approach with the motive
of overcome issues of business as well as enhance overall performance and capabilities.
Through the support of environmental management system approach organisation will be able to
accomplish its environmental goals with the consistent reviews, evaluation along with this
improvement of its performance (Ordonez-Ponce, Clarke and Colbert, 2021). There are
3

different benefits and advantages that could be attain by respective company with the support of
effective environmental management system approaches. It is important for University of
Bedfordshire to review the organisation environmental goals along with this analyse its
environmental impact as well as compliance obligations. This will assist in successful and
effective consideration of environmental management system approach so that set objective of
respective company could be timely accomplished (Jacob and Teuteberg, 2021). There crucial
benefits of environmental management system is that it helps n enhancing compliances of the
business. Through this system approach, environmental performance of the business could be
improved. This is consider to be significant for prevention of pollution as well as resource
conservation. Environmental management system is effective for increasing efficiency of the
business as well as reducing the cost of business. University of Bedfordshire needs to consider
appropriate approach of environmental management system as it will assist in increasing
employee awareness of environmental issues as well as responsibilities of the business towards
society and environment. This will help in enhancing image of the University with the public,
regulators, lenders, investors and so on. The environmental management system is consider as
the continuous improvement process of business as it includes planning, implementation,
evaluation, reviewing and commitment or policy. There are two basic approaches of
environmental management system such as preservation approach and conservation approach.
Both of these approaches of managing the environment is mention below –
 Preservation approach – As per this approach it is important that man or human beings
are not disturbing the national system as well as adapting it as it is. This the support of
this approach environment could be protected from the harmful activities of human. It has
been analysed that human beings are conducting different activities and task which could
lead to have impact over the environmental such as deforestation, increasing waste,
misuse of water resources and so on. Through this it has been analysed that inappropriate
use of the natural resources and system lead to have negative impact on environment. But
it is impossible that human are not using these resources as this is needed for different
type of development activities (Sinkovics and et.al., 2021). all nature and its components
are necessary for the growth and development of society. This will lead to result into
economic imbalance of varied intensity. It is important that these activities are stop and
right or accurate measured has been considered for dealing with the issues. Through the
4

support of successful preservation efforts this includes shared responsibility between
communities, governments as well as organisation.
 Conservation approach – The conservative approaches refers that there should not be
overexploitation of the nature as well as conservation of natural resources is essential for
the sustainable development (Soderstrom and Heinze, 2021). This is one of the
effective approach for environmental management as this will lead to have positive
impact on environment as well as its growth and development. It has been analysed that
conservation management system can be describe as the procedure for maintaining a
species or the habitat in a particular state. This approach of environmental management
system needs to be consider by business with the motive of being successfully as a tool of
economic development. This will lead to have crucial and positive impact on the effective
functioning of environmental, society as well as organisation.
The University of Bedfordshire is considering different approaches and practices for
sustainable business management. This consist of waste disposal, recycling, combi heating,
solar panels, rain water harvesting and life campaign. All of these are the crucial initiative
taken by the University of Bedfordshire for consideration of environment as well as reducing
negative influence of business on environment. It has been identified that waste disposal
practices helps University of Bedfordshire to classify different type of waste in accurate
manner so it could be disposed successfully. In order to implement recycling practices the
University of Bedfordshire has put dustbin at various location of the university that is helps
in dividing the waste into mixed and general recycle manner. This will help in successfully
and effectively recycling the waste of the University of Bedfordshire as well as help in
informing students regarding this concept. Where as there are other university that is not able
to take environmental management practices in successful manner such as University of
Bristol and Durham University. It has been identified that the University of Bristol has been
effectively and actively involved in the process of addressing sustainability issues with the
impactful operations, teaching, research as well as community for many years (Tayal and
et.al., 2021). The University of Bristol includes energy, carbon and water management
practices with the encouraging energy as well as water efficient practices along with the
investing in its estate to reduce. Where as The Durham University is majorly focusing on the
water management practices. This university is conducting different task and activities that is
5

helpful for management water in correct and accurate manner. This is very good initiative of
the Durham University so that water could be protected from various dangers such as
chemical and pollutions. This is significant method of engaging with the environmental
management practices as well as enhancing sustainable development activities of
environment.
So through this, it has been identified that the University of Bedfordshire is consider as
the leader for environment management as this university is taking consideration of different
aspects and elements that could lead to have major impact on environment. It is essential that
all of these aspects of environment are successfully managed with the motive of reducing its
negative impact form the environment and society.
Be able to benchmark current sustainable business practice against national and international
industry norms.
There are various kinds of sustainable business practices that will assist company to become
sustainable. It is important for business to effectively and efficiently conduct sustainable
business practices so that its practices could be successfully and effectively accomplished. It has
been analysed that there are different national and international industry norms which could lead
to affect sustainable business practices as well as its functioning in market area (Oskam, Bossink
and de Man, 2021). There are number of ways through which business can become sustainable
such as reducing waste, preventing pollution, adopting clean energy, greening the planet through
planting more trees, conserving water, using sustainable materials, creating and developing
sustainable products and services as well as many other. All of these are effective and efficient
business practices of sustainability. This will lead to have major impact on effectively
functioning of the business and impact on organisational growth and development. It has been
analysed that sustainable business practices can be describe as the activities of organisation that
is economically viable, socially responsible as well as environmentally friendly. All of these are
crucial aspects of business that will support in effectively and efficiently conducting
organisational activities as well as enhance its image in market area. In the world of business
sustainability is viewed as the form of triple bottom line that is reporting system in which a
business enterprise is communicating with its crucial stakeholders. This is mention below in
detail –
6

Economic value – This is refer as the activities of business that helps in earning profits by
providing high quality products and services to its customers. It is essential that company is
considering economic value so that it can earn appropriate amount of profits and successfully run
business practices. This is crucial for providing salary to the workforce that is effectively
conducting business practices.
Environment aspect – This can be describe as the planet and it is very important for
company to consider environmental aspects while conducting business activities. environmental
aspects of organisation will lead to have major impact on business and it is crucial that company
is developing business practices that helps in reducing negative impact on its operations of
environment.
Social responsibility –It has been analysed that company have major responsibility towards
the society. This can be describe as the people who are working with the organisation as well as
consuming offering of the business or other who are affected by the business practise. All of
these are essential and important part of the business and it will lead to have major impact on
functioning. The sustainable business practices is considering people, plant and profits. All of
these are important part of the business and it will lead to significantly affect strategies and
functioning of business. It has been analysed that conversation, collaboration as well as
connection will assist in effectively and efficiently conducting sustainable business activities
with he motive of attaining desired goals.
There are various national and international industry norms that needs to be consider by the
organisation for sustainably conducting business practices.
 European eco label – The European eco label can be describe as the voluntary standard
for encourage businesses to market products as well as services which are kinder to the
environment. This consist of different activities as well as wide range of products and
services in the European Union. This includes cleaning products, paper products,
appliances, textile as well as home or garden products. It is essential for consideration of
European eco label while conducting business practices as well as enhancing sustainable
business practices.
 International organisation for standardization – The international organisation for
standardization has developed more than 18500 international standards on the variety of
subjects as well as around 1100 new international organisation standards are published
7

every year. This standards are effective for providing direction and guidance to the
business for effectively conducting sustainable business management practices. This
helps in developing the standards for the quality of management system, food safety
management system, environmental management system, risk management and so on.
All of these are effective for developing and enhancing performance and standards of
business practices.
 Business social compliance initiative – This is refer as the European non profit
organisation that is focusing on the growth and improvement of social compliances in the
global supply chain (Oskam, Bossink and de Man, 2021). This is significant for offering
common social management system to the retail, importing as well brands for improving
working practices all around the world. This consist of monitoring as well as qualification
system which covers all products sources form any other county.
CONCLUSION
From the above report it could be concluded that sustainability business management practices
play very important role and it will lead to have crucial impact on successful and effective
functioning of the business. it has been analysed that organisation needs to consider business
sustainability aspects as this will help in increasing overall activities of business. This will lead
to have positive impact on business practices and performance with the motive of accomplishing
environmental goals. It has been determined that environmental management system is useful for
providing information as well as resources required to successfully and effectively
implementation of environmental management system approach with the motive of overcome
issues of business as well as enhance overall performance and capabilities. Appropriate
approach of environmental management system as it will assist in increasing employee
awareness of environmental issues as well as responsibilities of the business towards society and
environment.
8

REFERENCES
Books and Journals
Goni, F.A. and et.al., 2021. Sustainable business model: A review and framework
development. Clean Technologies and Environmental Policy, 23(3), pp.889-897.
Mattera, M., and et.al., 2021. Facing a global crisis-how sustainable business models helped
firms overcome COVID. Corporate Governance: The International Journal of Business in
Society.
Dentoni, D., Pinkse, J. and Lubberink, R., 2021. Linking sustainable business models to socio-
ecological resilience through cross-sector partnerships: A complex adaptive systems
view. Business & Society, 60(5), pp.1216-1252.
Ullah, H., and et.al., 2021. Multidimensional perspective of green financial innovation between
green intellectual capital on sustainable business: the case of Pakistan. Environmental Science
and Pollution Research, pp.1-17.
Mercuri, F., and et.al., 2021. Blockchain Technology and Sustainable Business Models: A Case
Study of Devoleum. Sustainability, 13(10), p.5619.
Ordonez-Ponce, E., Clarke, A.C. and Colbert, B.A., 2021. Collaborative sustainable business
models: Understanding organizations partnering for community sustainability. Business &
Society, 60(5), pp.1174-1215.
Jacob, A. and Teuteberg, F., 2021. Towards a Taxonomy for Design Options of Social
Networking Technologies in Sustainable Business Models. Sustainability, 13(1), p.81.
Sinkovics, N., and et.al., 2021. Sustainable Business Model Innovation: An Umbrella
Review. Sustainability, 13(13), p.7266.
Soderstrom, S.B. and Heinze, K.L., 2021. From paradoxical thinking to practicing sustainable
business: the role of a business collective organization in supporting entrepreneurs. Organization
& Environment, 34(1), pp.74-98.
Tayal, A., and et.al., 2021. Blockchain‐based efficient communication for food supply chain
industry: Transparency and traceability analysis for sustainable business. International Journal
of Communication Systems, 34(4), p.e4696.
Oskam, I., Bossink, B. and de Man, A.P., 2021. Valuing value in innovation ecosystems: How
cross-sector actors overcome tensions in collaborative sustainable business model
development. Business & society, 60(5), pp.1059-1091.
9

10