Discussion of Sustainable Development Strategy

Sustainable development is an advantage of responsible companies that are aware of their impact on the environment and the local population, taking into account the requirements and needs of society, as well as providing open information about their activities (Kordestani, Peighambari and Foster, 2015). How to develop and implement the management of sustainable business practices in an organization? A sustainable development strategy is a mechanism that starts the irreversible process of positive transformation of a company (Redclift, 1992). The implementation of such a strategy in the approach of an organization or company requires the following points. It is a clear understanding of sustainable development – the company must set long-term goals in the context of environmental, social and economic trends. The action plan – the implementation strategy should contain specific actions and programs to achieve these goals in practice. In addition, the communications and reporting – clear, meaningful, and consistent messages that will demonstrate to the internal and external stakeholders the transparency of the company’s actions (Starik and Kanashiro, 2013).

The business management body, responsible for the development and management of the business, must first establish the mission, development concept and a set of core values. They are necessary in order to allow the participants in the governing body of the business cluster and the affected and interested parties to understand the purpose of the formation, its future prospects and the basic values ​​used by it in their business activities. With the development of sustainable management and its implementation in order to obtain sustainable environmental, economic and social performance indicators, the business management body should consider applying the principles in the implementation of internal management (Einarsdottir and Christiansen, 2014). Applying the concept of sustainability in the development and management of a business cluster can bring many benefits at the global and local level, including the following:

  • greater return on investment;
  • the creation of a special place and the associated “sense of place” among the residents of the business;
  • promoting productivity and employee satisfaction;
  • opportunities for capital accumulation;
  • expansion of local biodiversity (Goosen, 2012).

The structure of management carried out by the management body of the business, including its roles, responsibilities and organizational structure, should be clearly defined, documented and announced in order to facilitate effective sustainable management.

References

  1. Einarsdottir, S. and Christiansen, A. (2014). Sustainability Trends. [online] Www2.deloitte.com. Available at: https://www2.deloitte.com/content/dam/Deloitte/is/Documents/risk/Deloitte%20Sustainability.pdf [Accessed 21 Oct. 2018].
  2. Goosen, M. (2012). Environmental management and sustainable development. [online] www.researchgate.net. Available at: https://www.researchgate.net/publication/257724302_Environmental_management_and_sustainable_development [Accessed 21 Oct. 2018].
  3. Kordestani, A., Peighambari, K. and Foster, T. (2015). Emerging trends in sustainability research: a look back as we begin to look forward. [online] www.researchgate.net/. Available at: https://www.researchgate.net/publication/275220755_Emerging_trends_in_sustainability_research_a_look_back_as_we_begin_to_look_forward [Accessed 21 Oct. 2018].
  4. Redclift, M. (1992). The Meaning of Sustainable Development. [online] www.researchgate.net. Available at: https://www.researchgate.net/publication/229372410_The_Meaning_of_Sustainable_Development [Accessed 21 Oct. 2018].
  5. Starik, M. and Kanashiro, P. (2013). Toward a Theory of Sustainability Management: Uncovering and Integrating the Nearly Obvious. [online] www.researchgate.net. Available at: https://www.researchgate.net/publication/275441419_Toward_a_Theory_of_Sustainability_Management_Uncovering_and_Integrating_the_Nearly_Obvious [Accessed 21 Oct. 2018].

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"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: October 31, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: October 31, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: October 31, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: October 31, 2020]