The aspect of sustainability is a major factor in determining the success of a business enterprise; it determines the ability of a business enterprise to develop intelligence measures which can be used in the analysis of opportunities and threats likely to affect the operations of the business. The aspects related to sustainability include careful analysis of financial reporting, financial analysis, market entry strategies and addressing the needs of the population and the environment (Reeves, Martin. Hopkins, Michael S. Krushwitz, Nina et. al. 21).
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Sustainability is gaining momentum as evident in the media and legislative forums, the implications of sustainability ranges from changes in competition in the business arena to alterations in the strengths and weaknesses of a business. Surveys have been carried out to determine the impact of sustainability on the operations of a business; these surveys incorporated top business operatives especially company executives and managers. The survey focused in determining the extent in which individuals and businesses are willing to alter their strategies in a bid to conform to the ever changing sustainability needs in the business sector (Krushwitz, Nina et. al. 19) It is evident in the numerous studies carried out that managers and executives from various corporations hold a belief that sustainability plays a major role in the making of economic and environmental decisions, it is not lost on executives that societal and personal agenda are influenced by sustainability (Krushwitz, Nina et. al.22).
The current global economic recession has affected the way corporations respond to sustainability, a number lament on the difficulty experienced in meeting such needs while a considerable percentage finds it easier to achieve the principles and agenda of sustainability as a result of the recession.
The benefits of sustainability include improvement of a company’s brand through making it engage in meaningful activities, effective risk mitigation strategies, increase in the range of products offered, increase in the flow of cash and higher levels of employee motivation and satisfaction. The major hurdle associated with sustainability is the inability of executives and managers to develop clear guidelines in regard to the most effective ways of enhancing sustainability (Krushwitz, Nina et. al.24).
It is appropriate to acknowledge the impact of sustainability on value creation within a corporation especially in regard to strengthening of the brand, motivating employees and controlling the numerous market factors that determine the profitability of a business. The increasing attention to sustainability issues calls for business enterprises to invest more in order to improve their standing both in the social and corporate arena (Krushwitz, Nina et. al.24).
In as much as sustainability concentrates on the internal control processes within an organization. It is appropriate for managers to appreciate the contribution of the public and other professional bodies in the attainment of sustainability, furthermore analysis of an organization’s strengths and weaknesses will highlight the most effective way of incorporating the aspects of sustainability into the organizational structure; this will reduce adherence to unclear guidelines and operations. These are my thoughts on the article.
Sustainability is a phenomenon that has contributed to an increase in sensitivity of business operations furthermore it has an environmental, economic and social dimension (Krushwitz, Nina et. al. 19). It is upon managers and executives within corporations to ensure that sustainability issues are manipulated to match the success criteria within an organization. This can be achieved through creating effective guidelines and instructions that will not only influence an organizations standing but place it a suitable position to compete favorably in the market.
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Krushwitz, Nina. Hopkins, Michael S. Reeves, Martin. Balagopal, Balu. Khayat, Zayna. Townend, Andrew. and Berns, Maurice. ‘’sustainability and competitive advantage’’, MIT Sloan Management Review, 2009 Vol 51 No 1, 19-25.