Sustainable Development

Sustainable development refers to development which meets the
needs of the present without compromising future generations ability to meet
their needs.

 

The driving forces behind sustainability consist of environmental,
social and economic issues; environmental issues are the major driving force
behind sustainability. Environmental issues such as the rising levels of
greenhouse gasses in the atmosphere, rising sea levels, increasing global
temperatures, loss of biodiversity and decreasing renewable and non-renewable
natural resources are having a hugely negative effect on our planet. These
issues require us to think about the future, future generations and the impacts
our use of resources will have on them.

 

We are using up the earth’s supply of natural non-renewable and renewable
resources at a rate that doesn’t allow these resources to be replenished, we
have to become responsible for our actions now so that future generations don’t
have to deal with the fall out of our decisions. Through the use of sustainable
energy such as wind energy, natural resources can renew their stores along with
decreasing the emissions of harmful gasses into the atmosphere caused by the
use of these fuels.

 

It is important for businesses to realise that they can have a positive
effect on their business and society through becoming a more sustainable
organisation. For a business to become sustainable it must adopt business
strategies meet the needs of the stakeholders along with the business while
sustaining, protecting and enhancing the natural resources that will be needed
in the future.

 

Although becoming sustainable offers many advantages it also
offers many challenges for the business such as the cost of making the business
sustainable, the amount of time and effort that is required to become
sustainable, legislation, pressure from competitors making the move to become
sustainable, shareholder and management considerations, may not be comfortable with
change and the impact it will have on them, so they may oppose the idea.

 

 

If these challenges can be overcome sustainability offers many
advantages for companies such as reducing costs through the use of energy and
water efficiently, allowing the company to develop a competitive advantage
through differentiation, helping the company meet the demands of future
legislation, giving the business a positive image that can attract customers
and businesses can influence others in society to change creating a positive
impact.

 

With all this in mind there is no reason why all businesses can’t
make their business more sustainable. The changing market environment offers
companies an opportunity rather than a threat, people are becoming more aware
of environmental issues and are taking this into consideration when purchasing
products, companies can use this to their advantage and enter a growing market
with the purchase of satisfying consumers changing needs rather than staying in
their current market producing goods that are further away from the needs of
the increasingly environmental conscious consumer.