Would it make a difference in the environment if only small businesses were to implement sustainable development? why or why not
Answers
The search for competitive advantage is an ongoing quest for companies in the United States. As new technologies continue to develop at a lightning fast rate, and efficiencies are gained in all areas of production, one relatively new endeavor is becoming increasingly important: companies around the world are looking for ways to become more "sustainable."
In recent years, sustainability has become a popular topic as business leaders face hardships with the poor economy in the United States. In fact, sustainability strategies have been growing in popularity over the past several decades. Young and Tilley (2006) describe in a recent article that the 1980’s and 1990’s were decades of eco-awareness following the pollution aware decades of the 1960’s and 1970’s. Now, as companies face increasing problems in trying to achieve profitability, managers are looking for ways to decrease costs while still maintaining quality products and services. Managers are looking for ways to survive. However, mere survival skills will not give a company much hope for the future. This is where the concept of sustainability becomes important.
It is important that sustainability concepts are able to produce visible results for the companies that implement them. Without visible results, it is likely that companies will choose not to pursue these strategies. However, researchers have been able to identify ways to ensure success through sustainability. It has been found that a competitive advantage can be accomplished through a “balance between economic progress, social responsibility, and environmental protection” (Epstein, 2008). With this formula for competitive advantage, more companies will be willing to implement sustainability concepts.
With the growing popularity of sustainability, it is not surprising that the trend is also growing in popularity among entrepreneurs. According to Gibbs (2009) in his recent article, sustainability entrepreneurs are a new breed of entrepreneur that work to combine the social, economic, and environmental aspects of sustainability. These business owners are leading the trend towards successful sustainability. Using the three valuable components of the formula for competitive advantage that were defined by Gibbs (2009), these entrepreneurs are starting their companies from the ground up in a way that produces an immediate advantage in their respective industries.
Sustainability entrepreneurs have an alternative approach to doing business that also assists them in building their advantage. In common practice, the primary strategy of businesses is to do whatever it takes to earn a profit. While profit is key to the success of any business, it is not the primary concern of the sustainability entrepreneur. Instead, these business owners focus on environmental health and social concerns (Gibbs, 2009). These owners are more likely than the traditional entrepreneurs to focus on reducing their companies’ carbon footprint and keeping their employees happy.
It is common knowledge that employee happiness is essential to the long-term viability of a company. However, it is difficult to imagine a company finding long-term success using a strategy that places social concerns above all else. A recent article by Gundlach and Zivnuska (2010) addresses the topic of sustainability entrepreneurs from the standpoint of the differences in business education required for sustainability entrepreneurs versus traditional entrepreneurs. In the article, the authors point out that curriculum must be changed to suit the drive and passion of these social
Answer:
Small Businesses can make a huge difference if they implement sustainable development.
Explanation:
Sustainable Development-
Development that satisfies current demands without jeopardising the ability of future generations to meet their own needs is known as sustainable development.
Impact made by small businesses-
Initiatives to protect the environment and increase revenue-
- Even if they do not have a sizable budget to devote to CSR or environmental sustainability programmes, small businesses can still make a positive impact on the environment in a variety of ways.
- The business can promise to remove an equivalent or reciprocal amount of trash from the ocean, a neighbouring forest, or even the streets of their own cities for every service, commodity, or product created or sold.
- The firm continues to produce profits while using that same power to give back to the community and the environment through this give-and-take system, creating a cycle that is both functional and sustainable.
Utilizing energy-saving equipment at work-
- Equipping their offices with energy-efficient appliances is another more manageable and simple way that small organisations can choose to improve the environment.
- Increased awareness of climate change in the workplace is facilitated by switching to cleaner energy sources and electrical products that use less power.
- Utilizing effective, environmentally friendly equipment like these also has the added benefit of saving money, which may be essential for a small business to survive.
Hence, we can conclude that, Small businesses don't have to lag behind when it comes to environmental conservation efforts made by larger organisations. Each one may cultivate a mindset that understands climate change, its effects, and actively works to eradicate them while promoting environmentally sound activities and making suggestions for improvements in the workplace.
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