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Sustainability Model, Essay Example

Pages: 1

Words: 342

Essay

The basic premise behind sustainability in business coupled with sustainable economic development is implementation of innovative approaches aimed at achieving a success in business. The common indicators of success in this respect are ethical, economic as well as environmental sustainability commonly referred to as “Triple Bottom Line approach” (Penfield, 2008).

The goal of sustainability model in business is delivery of social, environmental as well as economic benefits to the business forming the three important pillars behind sustainable business development in the context of the core activities of the business. In consideration of the models, social, economic as well as environmental values forms the value propositions with value distribution in the entire market chain being the most significant feature (Anderson, 2006). Appropriate sustainability model should account for green and environmentally friendly activities with all their processes, manufacturing activities and the end products are in harmony with the concerns of the environment as they strive to maintain their profit margins

A number of factors have been identified which play a pivotal role in success of the business models towards the achievement of sustainable development. There is a need for the business to strengthen its capabilities along with strategic alliances with government agencies, allied enterprises, as well as development practitioners. Success is also achieved through involvement of local communities while focusing on the long term self sustainability of the models (Becker, 2008). Thus, the concept of sustainability model offering a vision of future business being pursued by many entrepreneurial and creative businesses holds true. Involvement of the neighboring societies to become business partners in addition to co-designers in the models promotes the spirit of local buy-in along with ownership. There is a need for a continuous monitoring together with evaluation in order to achieve efficient sustainability if the business model.

References

Anderson, D., (2006). “Decisive importance in sustainability risk management.” Risk Management. Vol. 53, no. 4.

Becker, T., (2008). “Business behind Green, Eliminating fear, uncertainty, & doubt.” APICS magazine. vol. 18, no. 2.

Penfield, P., (2008). “Generating for Environment, Drive down costs &help Mother Nature.” APICS Magazine, Vol. 18, no. 6.

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