Sustainability
Sustainability Management
Nowadays the concept of sustainability is widely recognized in many corporations, organizations, government sectors and even in school or university. From my opinion, Sustainability is needed on a global (macro) scale, on macro-micro scale (government, NGO’s and business) and also on an individual level. The causes are: Greed and rent seeking, scarcity of resources, misuse of power, wrong moral and ethical standards. The Effects are: Climate change, rising inequality in almost all parts of the world (GINI Index), consumerism, corruption, abuse of ecosystems, etc.. Civil societies, governments and some businesses are asking for change and the creation of a “balanced social justice”. In case of abuse of social justice by one of the three major “participants” of the system (business, governments, NGOs), a vicious circle will occur and the organism is doomed to fail.
To make business, industry, nation, and the world sustainable, we have to consider the balance between People, Planet, and Profit, (or Social, Environment, and Economic) when making any decision, not for today or tomorrow, but for the future. However, most of the cases in real life, businesses see economic return as a must with highest priority, then legal requirements as something it has to do, but ethical conduct and discretionary responsibility as something they might do if they can or want to. However, a lack of ethical and social responsibility may result in increased government regulations, which could, in return, reduce company’s efficiency and flexibility.
It is avoidable truth that most companies, especially those at start-up stage would have to mainly focus on the profit and economic stability of its entity first, before it will have capacity to care about social and environment. Social and environmental considerations are factors that potentially create more costs or require technology and innovation to deal with it. Otherwise, it would mean cutting company’s profit
Nowadays the concept of sustainability is widely recognized in many corporations, organizations, government sectors and even in school or university. From my opinion, Sustainability is needed on a global (macro) scale, on macro-micro scale (government, NGO’s and business) and also on an individual level. The causes are: Greed and rent seeking, scarcity of resources, misuse of power, wrong moral and ethical standards. The Effects are: Climate change, rising inequality in almost all parts of the world (GINI Index), consumerism, corruption, abuse of ecosystems, etc.. Civil societies, governments and some businesses are asking for change and the creation of a “balanced social justice”. In case of abuse of social justice by one of the three major “participants” of the system (business, governments, NGOs), a vicious circle will occur and the organism is doomed to fail.
To make business, industry, nation, and the world sustainable, we have to consider the balance between People, Planet, and Profit, (or Social, Environment, and Economic) when making any decision, not for today or tomorrow, but for the future. However, most of the cases in real life, businesses see economic return as a must with highest priority, then legal requirements as something it has to do, but ethical conduct and discretionary responsibility as something they might do if they can or want to. However, a lack of ethical and social responsibility may result in increased government regulations, which could, in return, reduce company’s efficiency and flexibility.
It is avoidable truth that most companies, especially those at start-up stage would have to mainly focus on the profit and economic stability of its entity first, before it will have capacity to care about social and environment. Social and environmental considerations are factors that potentially create more costs or require technology and innovation to deal with it. Otherwise, it would mean cutting company’s profit