This report discusses about the sustainability development and its importance in a business. The concept has now adopted by majority of companies and sectors as it has the ability to give much profits and objectives to companies. There are various rules and procedures formed by the company in relation with this topic. These policies would help the organisation in bringing the sustainability development.
- What is sustainability development?
- What are the importance of sustainability development?
- How organisations uses this concept in attaining the competitive advantage?
Sustainability is the state where the activities are performed with a view to sustaining all the resources in the long term. All the practices are taken with an objective to continue the resources for a longer period of time. Sustainability development is a new concept in business practices. Overexploitation of environmental resources has resulted in the build of this concept. The organisations make profits through using the resources of the environment, therefore, it has now become the duty of the organisation to run their activities in such a manner through which they can sustain the environment and all its resources for a longer period of time. To save the environment and the globe from getting damage all the organisations are performing their bit. Also, these organisations have indirectly received societal pressure through people. NGO's, government which is mandatory for them to follow if they want to continue their business in the market. The major purpose of this concept is to avoid the depletion of the natural resources in a view to maintain a balance in the ecological environment. The society has become very strict towards the environment and its related concerns. They perform there bit by purchasing the products or the services which does not create environmental harm, this activity is one of their bit which they perform. Sustainability development has been followed by the majority of the organisation. The organisations use this concept to attract the customers or targets market towards them. They make this concept as their Unique selling point so that they can perform both, customer attraction and also the duty towards society. The unique selling point is the feature in a product or service which they consider different and unique when compared with other products or service.
The sustainability development provides many benefits to the organisation. The adoption of this concept helps in reducing the cost. The recent technology focus upon more productivity and less wastage. Through the adoption of such technologies there would be less wastage and the cost of the company will also get decease. Optimum utilisation of resources can be achieved through sustainability development. Through this all the materials or the resources are used as per the requirement insuring proper utilisation of resources and no wastage. The adoption of this concept helps in protecting the land and environment for the more longer period of time. Apart from this this concept helps in portraying the good and positive picture of the company before the customer and market. There is a concept which is related with sustainability development, called Green marketing. Green marketing is a type of marketing in which the organisation uses the sustainability development concept in all their marketing messages. This concept is adopted by many organisations as uses this as their USP's. In the green marketing the marketing of products and services which are environment friendly get marketed. The concept of green marketing is useful in educating the targeted market or customers about the merits of the products and services which are providing are environment friendly. And through this type of marketing the organisation has able to attract a heavy percentage of customers towards them.
Through the adoption of the concept of sustainability development the organisation also gets the benefit that they would be getting the resources for more longer time period. The companies have developed the procedures and policies which contributes to this particular concept. Apart from the organisations, the government also has made the rules and procedures regarding sustainability development and environmental issues. These procedures and policies are imposed upon the organisation and it is compulsory for the companies or organisation to obey all these rules and regulations. If any organisation fails to fulfil these rules and regulations, they need to face a heavy penalty form the government side. Therefore, it has become necessary for them to obey these laws if they want to operate in the market. Apart from this the sustainability development concept does not only focuses upon saving up of the environmental resources but they are also applied in the context of employees, suppliers, stakeholders, customers and etc. The sustainability can be bring in the context of employees through taking care the interest of them in try of make it fulfil. The organisations realises that they can achieve the success in this concept through integrate the interest of employees with the organisation goals and objectives. By practising the same, the employee goals with respect to his career can also get achieved. Apart from this the sustainability can be bring in the similar way to stakeholders, suppliers and customers. The interest of these respective people should get recognise by the organisations and if the organisation wants to sustain these people with them they need to make all the procedures or the policies in such a way that there interest can get met. The stakeholders will continue their support with organisation if the organisation will take their objectives into consideration and forms the procedure which can met both, the organisation and stakeholders interest. The concept of sustainability development has the capacity to achieve the objectives of organisations through fulfilling the interest of the associated parties or elements with it.
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Sustainability development just not only connect to the environmental sustainability but it is also related with the development of associated people. In the modern time of business and its practices, this concept has the ability to bring an immense profits and goodwill. Here the organisation increases the same through the effective use of sustainability development concept.