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At a global level, sustainability may be defined as meeting the needs of the present generation without compromising the ability of future generations to meet their needs.[1] Sustainability at the level of individual businesses may be defined as seeking to find a balance between financial profitability, sustainable economic development, and social responsibility.
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The Stage
Sustainable development has both national and local business implications. On a macro scale, sustainable development encompasses global concerns and national economies while on a micro scale, it is associated with the practices of individual businesses and people. Sustainable development practices can vary greatly between organisations because of the specific context in which they operate. This creates a unique opportunity for peer organisations to learn from each other’s experiences. Sustainable development can save money, create a more equitable world, and lead to a healthier, more productive work force.
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