ness sustainability is the preservation of a business through time. This means infinite business success and profitability.
Who wouldn’t want that?
Despite the attractive outcome, business sustainability as a concept did not come about until the early 70s and was met with controversy. Publications such as The Limits To Growth addressed business economics beyond the profit and loss statement. This was the dawn of the green business model.
The green business model, or a sustainable business, consider social and environmental dimensions that envelop and interact with business economic development.
In short, to attain a sustainable business, environmental, social and financial demands need to be managed and regulated.
The green business model as a domain once attracted little attention. But there has been exponential growth in the number of businesses and organizations looking to minimize their social and environmental impacts. Many corporate giants, such as Wal-Mart, have named sustainability as a key priority, understanding its importance for business success.
Why business sustainability is important: The 3 principles of sustainability
Business sustainability consists of three principles, also known as pillars:
- Pillar one: The environment
- Pillar two: The society
- Pillar three: The economy
The next part of this article explains the impacts these three pillars have on business when they are not managed sustainably. We will also consider how these pillars interact with each other in a business sustainability model.
Pillar one: The environment and its impacts on business
News reports suggesting that our planet is heading towards catastrophe aren’t rare occurrences. The Guardian tells us that glaciers are melting at a rapid pace. The New Yorker broadcasts that the state of Louisiana is losing a football field of land every ~1.5 hours due to rising sea-levels. The Atlantic informs us that the Brazilian Amazon burns under the weight of unsustainable agricultural practices.
The human impact on planet Earth – in additi