Sustainability Of The Current Business Issues †Free Samples

Question: Discuss about the Sustainability Of The Current Business Issues. Answer: Introduction In this journal, I will be going to highlight the specific issues that are regarding the sustainability of the current business issues. It is imperative to note that the business organizations in the modern competitive business environment should have developed the viability. If they face business sustainability issues, they might face several challenges to arrange their business operations smoothly. I will discuss several issues that are encountered in the business organizations to maintain the sustainability. Concept of business sustainability The concept of the business sustainability is a very wide approach to be precise. Some of the ways in which the organizational sustainability can be achieved is to maintain the integrity of the managers and make effective communication between the employees and the customers (Bansal and DesJardine 2014). The business organizations should always act by maintaining the ethics in their business. This should be one of the most important things to achieve the sustainability in the business. The different perspectives like the maintaining the ethical standards should be very effective in this sense as well. The business organizations should always be very much active in meeting the demands of the customers (Bansal and DesJardine 2014) I also think that the business organizations should be trying to meet all the environmental, legal and political guidelines so they can keep up their reputation in the good manner. One of the most important issues that the business organizations face is the f act that they face some social and environmental challenges while meeting their financial adjectives (Galea 2017). Sustainability, the Triple Bottom Line business The Triple Bottom Line is considered to be one of the most important things that are said to be the measure sticks for the sustainability of the business (Elkington 2013). I critically think that this Triple Bottom Line is the main cause of measuring the corporate sustainability of the business organizations. I am strongly of the opinion that sustainability is the thing that the business organizations need to flourish and cope up with the challenges in their industry. One of the main issues in maintains the securing the business success is to manage the human capital and utilizing the advantage of a better social position in the business industry. The organizations should be involved in developing the social status of the organizations. My personal opinion is that the business organizations should always support the local initiatives for the business indeed. These issues should be sorted out in the most ways (Elkington 2013). If I can use implement the Triple Bottom Line method, the organizations can expand in the best ways by keeping the local economy in the minds. If this method is used in the business, the managers will be able to build a proper workforce in which they can have faith and those employees can bring out their best efforts indeed. Their skills will provide the organizations with the best profits and help maintaining the sustainability of the organization (Savitz 2013). The Six Forms of Capital used by businesses There are six types of the capitals which are very much essential for the business organizations. These things are very much important since they help the business organizations to get their best place in the industry. They also help the organizations to maintain their sustainability as well. These six types of business capitals are internal economic capital, external economic capital, natural capital, human capital, social and relationship capital and constructed capital. I believe these six types of capitals are indeed very much necessary for the business organizations to survive in this competitive business environment. The companies should focus on building their brand values in a way that they should be able to grab the entire market within their target audience (Burns 2016). The various climatic resources like the ecosystem and others should be valued by the organizations as well. According to me, the organizations should also give more focus on the skills of the employees, mot ivating the employees to perform better and give more efforts. I believe these things would really be very much beneficial for the organizations indeed. The individuals should be given much motivation by the organizations and their managers. I always believe that the organizations should always build a strong network and build a strong market. This should be very much effective for them to gather the competitive advantage over their rival companies (Campbell, Coff and Kryscynski 2012). The strong teamwork or collaboration should be implemented in the business operations. I have always asked for the shared intellectual capital that should be practiced in the organizations (Burns 2016). The six phases of business approaches to sustainability The business organizations should always practice some measures by which they can achieve their sustainability in the best ways (Rosemann and vom Brocke 2015). There are six ways in which the organizations can gain the competitive advantage by practicing the approaches of business sustainability. These approaches are the managing the uncertainty in the business, the ability to adapt with changing business environment, openness to changes, using the participatory cultures and tools, using the value-based approach and managing the systems change (Benn, Edwards and Williams 2014). I believe if the organizations can practice these steps they will surely manage the business sustainability. Conclusion I would like to conclude this journal by saying that the organizations need to adapt to many changes that would be very influential in order to bring in the sustainability in the business performance. The organizations can perform better if these values are included in their business operations. References Bansal, P. and DesJardine, M.R., 2014. Business sustainability: It is about time.Strategic Organization,12(1), pp.70-78. Benn, S., Edwards, M. and Williams, T., 2014.Organizational change for corporate sustainability. Routledge. Burns, P., 2016.Entrepreneurship and small business. Palgrave Macmillan Limited. Campbell, B.A., Coff, R. and Kryscynski, D., 2012. Rethinking sustained competitive advantage from human capital.Academy ofManagement Review,37(3), pp.376-395. Elkington, J., 2013. Enter the triple bottom line. InThe triple bottom line(pp. 23-38). Routledge. Galea, C. ed., 2017.Teaching business sustainability: From theory to practice. Routledge. Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process management. InHandbook onbusiness process management 1(pp. 105-122). Springer Berlin Heidelberg. Savitz, A., 2013.The triple bottom line: how today's best-run companies are achieving economic, social and environmental success-and how you can too. John Wiley Sons.