Sustainability is a term used by businesses and individuals alike. The three main points of sustainability in the business sense are profits, people, and the planet. All three of these criteria need to be met to be sustainable. On the people side of sustainability, workers need to be happy to achieve optimal working outputs. This means that employees are treated fairly, with respect, and have a purpose for their work with opportunities for promotion.
Concerning the planet and sustainability, the Earth’s natural resources need to be used sparingly and without waste.
For a business, this means cutting down on wasteful practices, finding alternative solutions, recycling, and gravitating towards “Green Energy” as a means of production. Profit needs to be kept in mind for a business while trying to attain the people and planet parts of sustainability. This means that the business can still make money while converting to healthier, more economically minded practices. If the business will not be able to make a profit in the foreseeable future it will back away from sustainable practices until it is a viable option.
Although profit may not be an initial gain from sustainability, businesses need to use these practices in this day and age for business success. Consumers will look for green solutions to everyday products such as light bulbs and plastic products if it is priced competitively to normal goods. This means that a company competing for a spot in the market without practicing sustainability will eventually be closed out due to the ever-reducing costs of “going green.
Sustainability is also important to business success because although it demands a lot of money to start, green practices can pay for themselves in the long run. An example of this would be a company moving away from natural gasses as a means of energy and installing solar panels and wind turbines. The cost for this technology is expensive at first, but besides maintenance, it is a one-time fee that will be a free source of energy in the future.
Sustainability should not just be important to businesses though, it should also be important to the consumers. Without practicing sustainability, the world will eventually run out of natural resources to rely upon, and by that point, it will be too late to fix it. By using green products, consumers can also reduce their carbon footprint and effectively reduce the rate of global warming. By using sustainability consumers and businesses alike can increase the quality of the world, save precious natural resources, and find cheaper, more reliable sources of energy for the future.