Advantages Of Sustainable Development
Sustainable development: a competitive advantage or a threat?
Sustainable development has three main pillars as economic, environmental, and social performance that the organizations should contribute to their improvement. Besides, by giving importance to the interests of the community and other different stakeholders, the short term benefits to the direct shareholders of the organization seems to be adversely affected, and this results in sustainable development being considered as a threat to the profit of the organization. However, it should be noted that failing to care about the community along with organizational sustainable development roles will form a negative image of the organizational brand, and negatively affect the organization in the long-term.
Sustainable development should not be considered as a limitation or hindrance, but rather it should be considered as a social responsibility which provides different opportunities and horizons to expand. The adoption of the sustainable development principles by the organization will result in benefits. Namely-
Improved operational efficiency; Preservation of license to work; Enhanced brand value and status; Promoting and increasing innovation; Customer attraction and retention; Improved access to wealth; Enhanced intellectual capital; Building and sustaining shareholder value; Improved management of risk; Generating higher revenues; Attracting and retaining talented staff; Identification of new opportunities.
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Portland Trail Blazers Sustainability Essay
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3408 Words | 14 PagesThus, instead of focus on short-term profit maximizing or costs saving, firms should be stakeholder-oriented. A firm which is stakeholder-oriented focuses on the need of their stakeholder such as employees, customers, society and others who have a direct economic link to the firm (Habil, n.d.). Businesses that are socially responsible will avoid actions that may cause detrimental to stakeholders. They have greater concern on stakeholder well –being. A firm that decided to ignore the social issues may results in a loss of strategic opportunities ('Shareholder value or social responsiblity?', 2007).
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Three Pillars Of Sustainable Development
1533 Words | 7 PagesI agree with the assertion that in the context of Sustainable Development ‘the reality of life today is that the economy dominates environment and society. The Concept of Sustainable Development Sustainable development refers to “meeting the needs of the present without compromising the ability of future generations to meet their needs”, and was produced by the Brundtland report (WCED, 1987). The concept also takes into account the needs of the poor in developing countries by outlining achievable objectives of importance (WCED, 1987).
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Strengths And Weaknesses Of Sustainable Development
1317 Words | 6 PagesSustainable development is a model that aims to link the idea of what is to be sustained, with what is to be developed, and focuses on three pillars, economics, social and environmental (Kates, Parris, and Leiserowitz, 2005; pp. 3). As a holistic approach it seeks to develop the three pillars, on a local, regional and global level. This paper will analyse the concept of sustainable development and the strengths and weaknesses of this approach will be discussed. Firstly, a background of this model will be presented, which will explore the three pillars. Secondly, the strengths and weaknesses will be evaluated, and lastly, a brief contrast will be provided of the opinions of sustainable development between the Global North and Global South.
The Three Pillars Of Sustainable Development
773 Words | 4 PagesKahn’s (1995) approach to the sustainable development theory is consistent with the modern day development techniques of Europe 2020 priorities; smart growth, sustainable growth and inclusive growth. The adoption of some innovative strategies such as the utilisation of renewable energy as an integral part of the energy mix could result in growth of the economy, which will eventually trickle down to the poor or extend to the rural or disadvantaged areas of the country. The social sustainability generally explains the idea of equity among the people, empowerment, participation, accessibility and institutional stability. It seeks to ensure a good standard of living in the country by alleviating poverty. Environmental sustainability seeks to explain the ways in which exploitation and utilisation of the natural resources will not be made to negatively affect the environment or the health of human beings (Kahn 1995).
The Benefits Of Renewable Energy
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Disadvantages Of Job Redesign
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The Importance Of Sustainable Development
755 Words | 4 PagesSustainable development, as its name suggests, is a concept continually elaborating. The most commonly used definition, according to World Commission on Environment and Development (WCED), is the development which “meets the needs of the present without compromising the ability of future generations to meet their own needs” (WCED, 1987). It shows the importance of considering benefits for both current and future generations and strongly supports economic development, while it also implies when accessing environment and natural resources, human beings tend to take an anthropocentric view, that the primary goal is to satisfy human needs. With no regard for earth as a life-support system, a development will not be considered sustainable. Therefore, by taking economic, social, environmental issues into accounts is a key approach to develop sustainably in different contexts.
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