Business Sustainability: Environmental Responsibility and Profitability
In today’s world, the world is changing in the blink of an eye recognizing the importance of Business sustainability. Sustainable development plays a vital role in the world’s environmental changes and social profitability.
This article explores business sustainability and how it affects our cultural aspects in the environment and its profits.
What is sustainability?
The term sustainability means that you are efficient enough to meet your current needs and don’t touch the reserves of that thing you need which has been saved for your upcoming generations. Adopting the method of sustainability is crucial for maintaining a balance between the economy and its growth, protection of the environment, and our social existence. It is like a chain of law and supply we study at initial levels which has a lasting effect.
Sustainable development goals
When you incorporate business sustainability in your practices you gain multiple profits. A strategic approach to HR is essential for completing organizational goals. Strategic management relies on operations management and HR management for the fulfillment of objectives. So, it is necessary to create an HR strategy. The management must align the strategy with the business strategy. These models help companies to create an HR strategy. Warwick Model, Harvard Model, and Michigan Model are strategic HR models. These models incorporate the strategic aspects of HR with other HR concepts. The Michigan Model solely focuses on the strategic aspects of HR. It aligns HR objectives with business objectives. Employees are used as resources for completing objectives. It ignores the soft HRM aspects. The Harvard Model links strategic HRM decisions with the business environment. It analyses the business environment and adjusts the HR strategy according to the business environment. The Warwick Model incorporates culture and business outputs into the HR strategy of companies. So, these models contribute to the strategic impact of HR.
Social benefits of business sustainability: environmental responsibility
Human resources are essential for organizations. The strategic approach to HR creates a pathway to success for organizations. In the past, organizations merely saw employees as expendable resources. The business environment has changed significantly. Hard HRM is just as necessary as soft HRM. Reward programs, benefits, flexibility, and employee engagement are essential for increasing the workforce’s efficiency. Soft HRM factors must be incorporated with the hard HRM factors. Otherwise, organizations cannot achieve success in the modern world. Organizations achieve success through their employees. The development of the workforce ensures the success of any organization. HRM strategy is less impactful if it is not aligned with the HR policy. Organizations must align their HR objectives with the current HR policy. They cannot achieve success if they do not follow the HR strategy.
The strategic approach to business is essential for retaining employees. Nowadays, employees leave organizations if they are not making an impact. Individuals want to contribute to the success of the organization. The strategic approach to HR helps individuals to align their goals with the organizational objectives. It shows the impact of the strategic approach on HR. The performance management system should aid the employees in understanding their impact on the organization essential for retaining employees. Nowadays, employees leave organizations if they are not making an impact. Individuals want to contribute to the success of the organization. The strategic approach to business helps individuals to align their goals with the organizational objectives. It shows the impact of the strategic approach on business. The performance management system should aid the employees in understanding their impact on the organization. A strategic approach to business sustainability is essential for completing organizational goals. Strategic management relies on operations management and HR management for the fulfillment of objectives. So, it is necessary to create an HR strategy. The management must align the strategy with the business strategy.
Business sustainability and sole property
What is a sole proprietorship?
A sole proprietorship means that the whole business structure is handled by a single owner. The owner of a business takes all the responsibilities, profits, and debts of a business on his shoulders.
Responsibilities of the owner of a sole proprietorship:
The owner of a sole proprietorship has some responsibilities which are:
• Making decisions for business.
• Receives the revenues earned by the business.
• Bear all losses.
• Assumes risk of the business.
As the name has “sole” in it the whole responsibility of this business is on your sole and mind of making right or wrong decisions.
Environmental responsibility of sole property
What is a sole proprietorship?
A sole proprietorship means that the whole business structure is handled by a single owner. A business owner takes all the responsibilities, profits, and debts of a business on his shoulders.
Responsibilities of the owner of a sole proprietorship:
The owner of a sole proprietorship has some environmental responsibilities which are:
• Making decisions for business.
• Receives the revenues earned by the business.
• Bear all losses.
• Assumes risk of the business.
As the name has “sole” in it the whole responsibility of this business is on your sole and mind of making right or wrong decisions.
1) Affordable
One of the advantages of a sole proprietorship is it’s affordable and simple. There are no agreements with other partners or anybody else you are the builder of your future.
2) Freedom of action
In a sole proprietorship, you have the freedom to make decisions. It has flexibility in its business structure. As a sole proprietor, you are free to decide what to do and not you are not restricted to any certain limits or restrictions.
3) Less paperwork
As people don’t want extra paperwork they often register themselves as a sole proprietor. When there is less paperwork it also lessens the the cost of a bookkeeper. If you spend less time on paperwork you give more time to your business to develop unique business strategies.
4) Income tax
Taxes in this field of business are simpler as compared to others. Sole proprietors use their house as a foundation of their business, and all the expenses such as utility bills, internet, and other such things can be written off this helps to reduce the cost of taxes.
5) Simple Ownership
A sole proprietorship is very simple. As the business is handled by a single person organically the control of the business comes into his hand and he doesn’t have to go through the fear of losing it.
This is how sole proprietorship incorporates business sustainability and helps in environmental profitability.
Real-world example
The real-world example of a business that has adopted sustainability is Mack Zuckerberg by studying its cultural aspects and how he has adopted this practice we will be able to understand the concept. Mark Zuckerberg, the co-founder of Facebook, has demonstrated a strong founder mindset. This includes having a long-term vision, taking calculated risks, and being willing to disrupt traditional models to achieve his goals. Zuckerberg has shown a relentless drive to innovate and push the boundaries of what is possible, which aligns with the CEO Genome Project’s findings that successful CEOs often possess a founder’s mindset.
Adaptive Leadership: Zuckerberg has shown the ability to adapt to changing circumstances and market dynamics. He has successfully led Facebook through various challenges, including regulatory scrutiny, data privacy concerns, and changing user preferences. Zuckerberg has shown a willingness to learn from mistakes, iterate on products and strategies, and pivot when necessary, which aligns with the business sustainability findings that successful CEOs are adaptive and resilient.
Bold Decision-Making: Zuckerberg has made bold decisions throughout his tenure as CEO of Facebook, including acquisitions, product launches, and strategic shifts. He is known for taking risks and making decisive moves, which aligns with the business stability findings that successful CEOs are willing to make bold decisions and take calculated risks to drive their companies forward
Focus on Talent and Culture: Zuckerberg places a strong emphasis on building a talented team and fostering a unique company culture at Facebook. He has been involved in recruiting top talent, developing leadership programs, and promoting a culture of openness, innovation, and collaboration This focus on talent and culture aligns with the business sustainability findings that successful CEOs prioritize people and culture as key drivers of organizational success.
People, planet, and profits are the pillars of business sustainability. In this article, I have given you the example of the successful business owner and CEO of Facebook and other media platforms who has a great role in environmental responsibility. As people are becoming responsible companies and businesses are also trying to find ways in the interest of the environment. Also, these companies are facing lots of challenges to maintain business sustainability as the work culture doesn’t fit the people they will feel like they are uninspired workers. It is comfortable for them to work well alone according to recent studies because they are experts in their work either positively or negatively they enjoy their freedom.
