Sustainable Approaches to Business Strategy and Management

Sustainable business management approaches aim to ensure business continuity by ensuring public and environmental safety. Today people are aware of business interaction with the environment and are more aware of their rights; therefore, businesses should place more efforts in implementing sustainability. People want safer structures to shop in, clean air to breathe, safer goods and services and prolonged life. Businesses that are social responsible stand to earn more profits, avoid conflicts with the law and compete favourably in the market. According to Wales (2013), sustainable growth in a business intertwines with financial, social and environmental factors. The fundamental principle in sustainability involves ensuring business operations values and observes economical, environmental and social factors. The organisation culture hugely determines the policies and implementations management makes and its role in social responsibility. It is impossible to mention sustainability without including Corporate Social Responsibility (CSR), an idea that prompts the business to involve in genuine operations for the environment and society sake. Although there have been claims that CSR is a brand technique aimed at improving profits, the motives of the approaches lead to sustainability. When organisations amalgamate environmental and social factors in responsible behaviour, it flourishes sustainably. Since CSR involves delivering good acts to the community, a business can earn loyalty from the customers, and a have a reputation improvement.

Moreover, CSR is also a virtuous concept that does not heavily inclines on capitalism and generating profits. The business strategy may require firms to invest billions of money for the community and environmental wellbeing. CSR is an ethical concept that requires decision-makers to display good character for society. Managers also need to align corporate sustainability management with people’s culture since the latter influences consumption and environmental interaction (Wales, 2013). An organisation’s survival and growth depend on supplying goods and services that are socially and economically favourable; therefore, Corporate Social Responsibility measures are legit and eco-friendly.

Reasons and Logic behind Business Sustainable Strategies

Increased globalisation has significantly magnified pressure on organisation regarding their productions methods and impacts on the environment. Globalisation has revolutionalised the roles and power of government, consumers and other businesses promoting organisation to adjust their operations accordingly. International health associations have also been established to monitor firms and ensure their operations are environment friendly. For instance, today’s firms cannot release toxic gases in the atmosphere or channels waste into oceans in the absence of the law. 

The global economic crisis has also encouraged business to implement CSR approaches. Research indicates the world’s population exceeds 7 billion, which means resources are highly strained and limited for organisations use. Since population growth does not necessarily translate to elevated demand, businesses are forced to maximise available resources and minimise unnecessary wastage (Russill, 2008).

Business operations also significantly dictate climatic changes and contribute to global warming. When firms release energy in the atmosphere, frequency increases and the temperature rises to levels that can endanger public health. The pollutants organisation emit results in a climatic change that compromises business performance by destroying premises and transport systems, reducing supplies of raw materials and consumers’ demands. 

Additionally, the media can tarnish organisation reputation if it is associated with unethical procedures of conducting business.

An example of a business in the UK that operates ethically

Highway England provides road networks to customers in an advantageous way and also looks at environmental concerns. Highland England Company is an example of an organisation that applies corporate social responsibility (CSR) to provide clients with a beautiful experience and simultaneously to ensure responsibility. Highway England works under a licence that works by “encouraging economic growth while protecting the environment and improving safety and quality of life for current and future generations“(Highways England, 2017). Highway England sustainably operates under five core capital elements which include;

  1. Financial capital 

The organisation invests on long term opportunities such as designing robust bridges and tunnels that lower future costs. By avoiding irrelevant future expenses, the organisation also helps to improve resilience to climate change. The company also allows opportunities that will allow innovation and modifications to structures to avoid future reconstructions.

  • Human capital 

The organisation aims to enhance road workers and road users’ safety by ensuring the management is sustainable and reaches the required standards of construction. The strategies implemented include building capacity that suits users and suppliers, acting in the national interest without greed and corruption and communicating its achievements to other organisations.

  • Natural capital especially in Carbon management

The UK aspires to reduce greenhouse gas emission by 80 per cent by 2050. Highway England plays a vital role in achieving the goal since it contributes to almost a sixth of total emissions. The measures taken to protect and manage the environment include managing carbon emissions, contracting suppliers to reduce emission, reducing waste generation, and combusting fossil fuels. 

  • Social capital 

The organisation improves and protects the needs and welfare of road workers and users by being accountable and transparent in its operations. The measures include responsibility in using raw materials and enacting process friendly to the environment, workers and the community.

  • Manufactured capital 

Under this policy, the company reduces pressure on resources due to competition or increased demand as the population grows. The strategies involved include maximising the use of available natural resources and minimising demands by reusing. The strategy also involves innovation to find ways to minimise and ensuring the stability of natural resources.

Highway England is an example of a company that has affected corporate social responsibility (CSR) to ensure economic, social and environmental desires integrate.

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