SUSTAINABLE BUSINESS

SUSTAINABLE BUSINESS

Sustainability meets the needs of present without compromising the future. Sustainability addresses economic, social and environmental perspectives. In the changing times economic development has been accelerated at the cost of social and environmental priorities. Goal of sustainable business strategy should be to make a positive impact on both society and environment. Failure to do so same leads to environmental degradation, inequality and social injustice. Sustainability could help businesses in competitive advantage by creating new market, new substitute products and innovation, cost optimization by consuming lower resources, better cost of capital availbilty, less litigation, better stake holder management and enhance corporate governance. Competitive advantage in the long run leads to sustained economic profits which could be done with purpose driven organization and leadership, ensuring all stake holders are part of growing journey. Co-existence is the key mantra for sustainable business.