Many businesses have turned to embrace sustainability in their spheres because it is seen as a necessity to remain relevant and competitive in the industry. Sustainability leads to the creation of long-term value by considering how a business is run ecologically, economically, and socially. Businesses build sustainability on the assumption that the strategy would contribute to longevity. When the expectations of a business on corporate responsibility increase, transparency is emphasized because businesses are required to recognize sustainability by widening their practicability in every sphere (Basu, 2021). Businesses can embrace sustainability by focusing on the creation of a conducive environment free from waste production. The main emphasis of this strategy is to promote awareness and increasing the application of a green supply chain and identifying issues like the elimination of plastic bags from the environment. For the sustainability strategy to be efficient, a business should ensure that that they involve the government in insetting some legal policies and procedures to help in achieving the sustainability goal. For instance, the government can help by providing an alternative replacement of plastic bags by encouraging industries to shift from plastic bag production. Socially, sustainability in a business can focus on the social effects created by introducing partner initiatives in areas of health and safety (Wulf, 2020). For instance, a business should encourage practices that safe for their consumers because they are the target market such as encouraging a reduction in environmental pollution. Economically, businesses such as banks can help the local communities to have good financial sustainability practices in their daily processes and culture. Businesses have embarked on sustainability through transparency and addressing material issues. The is no highly valued sustainability because the businesses try to address both political, economic, and social values equally. The main target involved in the community would benefit from the values.
References
Basu, D. I. P. A. K. M. I. R. O. S. H. N. I. K. V. I. C. T. O. R. I. A. (2021). Ethics, Morality and Business: The development of modern economic systems, volume ii. S.l.: SPRINGER NATURE
Wulf, C. (2020). The three pillars of sustainable development and their tensions. Discussion of various examples.
The spheres value sustainability the same way because they address issues that address their customers directly. For instance, socially, businesses must contribute to the well-being of the society by maintaining its culture through the practice and creating a safe environment that is conducive for human settlement such as reducing pollution. Economically, businesses target their final consumers, therefore, they should ensure they provide high-quality products to maintain and attract more customers who would lead to longevity of the businesses. Politically, the businesses should adhere to the set policies and procedures of running a business, for example, revenue collection which would benefit the society at large and adhering to set rules on environmental management and the impact it would create if the violation occurs. The spheres of sustainability contribute to the delivery of publicly shared benefits that increase business reputations. They make sustainability ad public commitment to be part of their practices, much like compliance is for traded businesses (In Pieraccini & In Novitz, 2020).
The generational differences experienced between different beliefs in demographic age groups towards sustainability are the stereotypes attached to their acculturation (Wulf, 2020). For instance, among the immigrants, the second-generation fares poorly concerning crime rates. It is a downward trend of acculturation because there is a need to increase the process of assimilation to increase the positive transformation that would lead to their settlement, economic success and society in their host country. The immigrant must incorporate policies that promote integration and reduce the likelihood of the immigrants getting involved in crime. Some countries that have embraced such policies have resulted in a significant positive difference.
References
In Pieraccini, M., & In Novitz, T. (2020). Legal perspectives on sustainability.
Wulf, C. (2020). The three pillars of sustainable development and their tensions. Discussion of various examples.
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