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Sustainable development: a business definition The concept of sustainable development has received growing recognition, but it is a new idea for many business executives. For most, the concept remains abstract and theoretical. Protecting an organization’s capital base is a well-accepted business principle. Yet organizations do not generally recognize the possibility of extending this notion to the world’s natural and human resources. If sustainable development is to achieve its potential, it must be integrated into the planning and measurement systems of business enterprises. And for that to happen, the concept must be articulated in terms that are familiar to business leaders. The following definition is suggested: For the business enterprise, sustainable development means adopting business strategies and activities that meet the needs of the enterprise and its stakeholders today while protecting, sustaining and enhancing the human and natural resources that will be needed in the future. This definition captures the spirit of the concept as originally proposed by the World Commission on Environment and Development, and recognizes that economic development must meet the needs of a business enterprise and its stakeholders. The latter include shareholders, lenders, customers, employees, suppliers and communities who are affected by the organization’s activities. It also highlights business’s dependence on human and natural resources, in addition to physical and financial capital. It emphasizes that economic activity must not irreparably degrade or destroy these natural and human resources. This definition is intended to help business directors apply the concept of sustainable development to their own organizations. However, it is important to emphasize that sustainable development cannot be achieved by a single enterprise (or, for that matter, by the entire business community) in isolation. Sustainable development is a pervasive philosophy to which every participant in the global economy (including consumers and government) must subscribe, if we are to meet today’s needs without compromising the ability of future generations to meet their own.
Business Development is thy reaction not Actions we pursue towards dealing with the local environment;this or that is the Main reason for employing the best Planners or entrepreneurial plans givers to cope with Emergencies
Good business plan and professional team only help the business development to be continuous and sustainable improvements.
Thanks for invitation
I amagreeing with my colleague’s answer Mr.Khalid
The overarching principles of Continuous Improvement, acting on feedback, evolutionary changes and quickly removing obstacles to efficiency, are an excellent fit with our existing work to create a BIS that is more flexible, open and innovative
Developing customer focus
Thanks for invitation..... answers are very adequate ..nothing to add
Agree with the expert answers here
Thanks for the invite I agree with the experts answers
I completely agree with the answers Mr. Khalid Jaafar
Excellent topic for discussion.
Instead of calling continuous and sustainable improvement, let me call it continual improvement.
With increase in ad-hoc way of doing work and almost 2/3rd of our work proceeds in ad-hoc way, slowly but surely we are moving in the wrong direction which wont help in Business development.
To develop a business, we need more systematic way of doing things, but in current scenario in almost all business sectors, be it marketing, service, sales, manufacturing or even in development, 2/3rd of almost all the individual work proceeds in ad-hoc management and not systematic management.
Slowly we need to increase our work percentage towards system, and this can be done only with small continual improvements which will pay way for eliminating the ad-hoc situation or crisis in our work, so that systematic works gets included in our daily management.
I would agree with the answers that really provided variety of correct opinions and info !
Thank You
