62% of executives consider a sustainability strategy necessary to be competitive today, and another 22% think it will be in the future. Why Is Sustainability Important in Business? Nespresso’s very purpose is linked to the so called “Positive Cup” campaign. Leaders must take active roles to demonstrate the importance of sustainability in driving business success. The mission of Wageningen University & Research in the Netherlands is “to explore the potential of nature to improve the quality of life.” It is an institution that focuses specifically on healthy food and the living environment, with strong agricultural roots. A sustainable business earns profits by being socially responsible and protecting our use of the planet’s resources. We know that this is coming to an end and that we are about to meet a brand new, more ethically inclined consumer that will change the world. A sustainable business strategy aims to positively impact one or both of those areas, thereby helping address some of the world’s most pressing problems, such as climate change and income inequality. Ensure a livable future. Here are four universities that embrace the importance of sustainability in business: Wageningen University & Research. The Importance of Business Ethics and Sustainability within Supply Chains - Business economics - Master's Thesis 2011 - ebook 24.99 € - GRIN In ecology, a sustainable system is a system whose biodiversity and productivity are preserved over time. With regards to compliance this is a straight forward issue. There are many reasons why sustainability is important to us. This builds loyalty within the organisation, benefiting the company through increased productivity and creativity, as well as lower levels of fraud and mismanagement. Lead at the speed of change IMD's signature program, OWP, brings you the latest business trends, thought leadership and insights to revitalize your business, drive innovation and lead you forward. They must make available the tools, technology, information and training to achieve results that engage and motivate their teams. In financial services we see how banks like ANZ and Westpac in Australia both advance local communities with good sustainability practices and by embedding sustainability in their business processes and culture. It also acknowledged widespread issues, particularly in its south Asian factories. It was loaned to you by your children.” – Kenyan proverb. Simple, sustainable practices, such as the sharing economy, hold the key to creating an open and inclusive work culture with shared purpose. A sustainable business, or a green business, is an enterprise that has minimal negative impact or potentially a positive effect on the global or local environment, community, society, or economy—a business that strives to meet the triple bottom line.They cluster under different groupings and the whole is sometimes referred to as "green capitalism." Walmart, IKEA and H&M have moved toward more sustainable retailing, largely by leading collaboration across their supply chains to reduce waste, increase resource productivity and optimize material usage. Improved brand image and competitive advantage. What’s more, it has become a staple in society as accountability and transparency rise in importance. 3]     Reactive to proactive: Many of today’s leading companies in sustainability, like Nike, Coca-Cola, Telenor, IKEA, Siemens and Nestlé have stepped up largely as a consequence of a crisis. Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. But reassuringly a number of large companies are developing forward-thinking sustainability policies. It also has taken steps to address local labour conditions with suppliers from emerging markets. Our content creates conversations, our voice is the one that matters. Recent BCG/MIT data shows that investors increasingly shy away from compliance risks. Organisations are expected to demonstrate their social purpose to stakeholders. Often we see divergence, which of course makes the sustainability efforts fragile, lacking real commitment and prioritization. Similarly, water conservation is a great sustainability initiative that has the potential to save costs. It’s the stuff that all good businesses say is important but fail to really deliver on every single day. For example, for every tonne of recycled aluminium (equivalent to just 50,000 cans), 14,000 kilowatts of electricity is saved. Sustainability is good for businesses both as a long-term strategy to improve employee confidence, and as a short term response to government legislation. In 2005, it became a pioneer in establishing transparency by publishing a complete list of the factories it contracts with and a detailed 108-page report revealing conditions and pay in its factories. It will help you become more efficient, improve your brand value and reputation, provide a platform for innovation, help attract and retain staff, achieve better growth, cut costs and strengthen stakeholder relations. Sustainable marketing as a practice. In fact, these 'expenses' are not considered optional. Strong leadership is the difference between playing in the bush league and the big league. 2]     Compliance first, then competitive advantage: First and foremost companies need to address compliance, which often relates to regulations in waste management, pollution and energy efficiency as well as human rights and labour responsibility. From attracting talent, to winning business, find out why nearly half of UK businesses are planning to increase their spend on sustainability. It’s therefore up to business leaders to instil a sustainable workplace culture within their organisations from the top down. Sustainability isn’t only important for global environmental issues, it can actually drive a company’s success. Within the corporate world, they are sometimes referred to as the triple bottom line. But the ones that actually do form a relatively small group.5]     Transparency is a pre-condition for assessing and improving sustainability practices. There are many good examples. 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