Environmental Sustainability

Discussion Question 2

Briefly describe five (5) reasons supporting the practice of sustainability within businesses.

ANSWER

Environmental Sustainability

Reasons Supporting the Practice of Sustainability Within Business

The practice of sustainability has become essential for all companies since it’s a business approach aimed at creating long term value within an organization. Companies that have business models practicing sustainability such as use of renewable resources are ahead in creating a responsible and strong supply chain that boost competitive advantage (Miller, 2010). The reasons for practicing sustainability are because it boosts the brand image, competitive advantage, reduce costs and increase productivity, increases the ability of a business to comply with regulations, attracts investors and employees and reduces waste.

Brand Image and competitive advantage: The current consumer trends show that consumers are paying attention to the impact of the business operations to the environment. Consumers are purchasing products from business that are practicing sustainable habits in their production process (Miller, 2010). One of the pillars in advertising campaigns has been doing good (sustainability). Business encouraging sustainable practices have improved their brand images and awareness. Sustainability measures have created real competitive advantages due to strategic practices that competitors cannot easily match.

Reduced Cost and Increased productivity: Sustainable practices in business have led to cost efficient operations that have streamlined efforts of conserving resources. Conservation strategies such as energy conservation have played a big role in reducing costs (Planko and Silvius, 2017). Business have reduced the consumption of resources which has increased productivity thus boosting growth.

Complying with State Regulations: Businesses need to comply with the federal state regulations to protect the environment. Integration of sustainability practices in business operations has boosted the ability of a business to comply with the state regulations. Therefore, a business is in a position of meeting the changes in environmental regulations in a timely manner.

Attract Investors and talents: Current trends in sustainable practices have led to employees and investors desire to work in sustainable business. Employees do not want to be associated with business that have engage in social welfare scandals and ecological disasters. Therefore, a business that is respectful to the society and environment will attract a pool of talents and investors.

Waste Reduction: Sustainability practices modify the business practices through simple changes in production techniques and human behavior which make significant reduction in waste (Planko and Silvius, 2017). For instance, waste mitigation practices such as recycling will reduce the amount waste leading to greater efficiency.

In conclusion, sustainable practices will create long term value of a business. Businesses practicing sustainability will improve on productivity, build its brand image, reduce costs, attract employees and investors, comply with state regulations and reduce waste. These are some of the reasons supporting the practice of sustainability in business.

References

Miller, J. L. (2010). Sustainability: Is It a Good Choice for Small Companies?. Inquiries Journal, 2(10).

Planko, J., & Silvius, G. (2017). Sustainability in business. In Sustainability in Project Management (pp. 25-38). Routledge.