What do we mean by Sustainable Business?
As a network that promotes the concept of sustainability, people often ask us what we mean by sustainable business. While we admit the practice is complicated, the basic concept is fairly straight forward.
Sustainability deals with how best to configure society to keep it productive over the long term. It is therefore a systemic concept, relating to the economic, social and environmental aspects of society. A business model informed by corporate responsibility principles takes its cue from the sustainability movement – namely, that companies should focus on triple bottom line performance: on the impacts to people, planet and profit. Quite simply, corporate responsibility (CR) is the practice of sustainability by business.
Today’s cutting-edge companies understand that balancing the needs of stakeholders with the drive for profit, and positively impacting the communities where they live and work, is essential to building a successful and sustainable business. Further, by integrating CR principles into their business model, companies can manage their operations to ensure their own continued success by minimizing costs, attracting and retaining top-notch staff, minimizing risk and liability, and successfully competing for the future by developing tomorrow’s more sustainable products and services.
As The World Business Council for Sustainable Development (WBCSD) -- a coalition of 180 international companies united by a shared commitment to sustainable development -- states :"As an engine for social progress, Corporate Social Responsibility (CSR) helps companies live up to their responsibilities as global citizens and local neighbors in a fast-changing world."
At DCSBN we maintain that it is time for business, the most powerful institution on the planet, to fully embrace the challenges and opportunities presented by sustainability and CR – for their benefit and for the benefit of the National Capital region.
Sustainability deals with how best to configure society to keep it productive over the long term. It is therefore a systemic concept, relating to the economic, social and environmental aspects of society. A business model informed by corporate responsibility principles takes its cue from the sustainability movement – namely, that companies should focus on triple bottom line performance: on the impacts to people, planet and profit. Quite simply, corporate responsibility (CR) is the practice of sustainability by business.
Today’s cutting-edge companies understand that balancing the needs of stakeholders with the drive for profit, and positively impacting the communities where they live and work, is essential to building a successful and sustainable business. Further, by integrating CR principles into their business model, companies can manage their operations to ensure their own continued success by minimizing costs, attracting and retaining top-notch staff, minimizing risk and liability, and successfully competing for the future by developing tomorrow’s more sustainable products and services.
As The World Business Council for Sustainable Development (WBCSD) -- a coalition of 180 international companies united by a shared commitment to sustainable development -- states :"As an engine for social progress, Corporate Social Responsibility (CSR) helps companies live up to their responsibilities as global citizens and local neighbors in a fast-changing world."
At DCSBN we maintain that it is time for business, the most powerful institution on the planet, to fully embrace the challenges and opportunities presented by sustainability and CR – for their benefit and for the benefit of the National Capital region.
1 Comments:
At 9:14 AM,
Anonymous said…
Good start to this definition! Although the concept is clear to me, I wonder how it resonates with the general public? How does it resonate with business owners? I know the small business owners I work with are almost always focused on profits above environmental and social concerns. When approached with the idea of focusing on a sustainable business, the entrepreneurs are usually responsive, but just do not know how to move in that direction....
Post a Comment
<< Home