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Sustainable Business Development - Benefiting your Community

Written by: Wayne J.R. Bowser

Article Overview: Sustainable Business Development was popularized just over 22 years ago by a report put out by the Brundtland Commission. The world economy was growing and throughout the late 60’s and into the 80’s world development advanced rapidly with little regard to the environment and the Brundtland Commission, which came out of the United Nations World Commission on Environment and Development, characterized ‘sustainable development’ as: “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” As a business leader and entrepreneur, we can benefit from the agenda established as a result of these United Nation Conferences in order to combat Poverty, Change Unsustainable Patterns of Consumption and Protect Bio-Diversity and Natural Resources.

Sustainable Business Development - Benefiting your Community

THE GOAL

The international sustainability plan to change the way we conduct ourselves in business can be very complex and present many challenges and risks to the long term success of a business. The impacts on the local environment, whether it is economic, social or natural, will have long term effects, and businesses need to develop a comprehensive plan in order to stay focused on any goal that will implement change for the 21^st century and, minimize those impacts for generations that follow. Our mountain communities are no different.

The key aspects of sustainability in business development, as defined by the United Nations in 1992, are:

"Economic Growth (Development), Environmental Stability (Protection), Social Equity (Justice) and Democratic and Effective Governance."

These goals toward global sustainability became known as Agenda 21, and to help create a sustainable business, an owner must identify the key issues using simple risk management tools (frequency and probability rating). The four major areas that will result in the largest transformation and those key sustainable issues are:

Workplace

Employee Rights; Health and Safety Diversity; Building Skills; Welfare Literacy; Attraction and Retention

Environment

Climate Change; Resource Use; Fair Trade; Genetically Modified Food; Water Use; Waste; Emissions; Land Contamination; Friendly Products

Community

Human Rights; Investment; Engagement; Fairness; Development; Education; Charitable Donation; Positive Legacy

Marketplace

Ethical Trading; Risk Management; Innovative Products; Low-carbon Solutions; Governance; Accountability

WHY CHANGE

We all share the earth and therefore share the responsibility to look after it. Responsible companies and organizations should look for ways to support the international sustainability agenda and find ways to make improvements within their own business practices and operations. Many American businesses have already implemented sustainable practices and it's why so many people around the world look to the U.S. as leaders. As Americans, we must continue to uphold these values and support change, when needed, always seeking ways to do things better, smarter, but not necessarily, cheaper.

Many issues can be resolved with sustainability solutions that result in money saved through energy efficient measures... "doing more, with less." In addition, reliability through improved sustainable performance results in higher marketplace share. Attractive and ethical work environment results in lower employee turnover. Sound business practices result in long-term quality investments to stakeholders. These are some target areas that bring about change that is aimed to improve the "triple bottom line" of economic, social and natural environmental performance.

It's change your Community, your State, your Country...the World, can all benefit from.

Related Articles
  Introduction: Fiscal Dimensions of Sustainable Development
  Moving Forward: International Community
  Fiscal Dimensions of Sustainable Development
  Moving Forward: International Financial Institutions
  Examples of Sustainable Development

Article Tags: brundtland commission, entrepreneur, sustainable business development, world economy



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