A sustainable business is an organization that participates in environmentally friendly activities to ensure that all processes, products, and manufacturing activities address current environmental concerns while maintaining a profit.
SUSTAINABLE BUSINESSES
Sustainable businesses are designed to have minimal impact on the global or local environment, community, society, or economy. It'’s a business that manages its operations utilizing the triple bottom line concept.
• It incorporates sustainability into its business model
• It supplies environmentally friendly products or services
• It is greener than traditional companies
• It has made an enduring commitment to sustainable principles
Five Essential Characteristics
1. Triple top-line value - this requires a balance of three business activities - financial benefits for the company, natural world betterment, and social advantages for employees and members of the local community —with each of these three components recognized as equal in status
2. Nature-based technology - this principal involves capitalizing on natural resources including growing our food, harnessing our energy, constructing things naturally, and creating business harmony
3. Sustainable technology- this principal advocates employing sustainable energy technology including —solar, wind, ocean and geothermal— that can meet our energy needs without negative effects
4. Local-based economies- building communities with locally owned and operated businesses and locally managed non-profit organizations, working together in partnerships and collaborations.
5. Continuous improvement-provisions for continuous process of monitoring, analyzing, redesigning and implemention that supports positive changes as new opportunities emerge.
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