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  • Essay / Benefits of Sustainable Business Practices - 1812

    Sustainability can be defined in many ways. It could be defined as the process of maintaining a process or developing new technologies to reduce environmental pollution. It also means measuring the extent of environmental pollution by other factors. I must admit that sustainability is a great idea linked to many areas such as health, economy, food, social, etc. However, I still remember the first day of the “Sustainable Business” course, Professor Laverty showed an example to my class. sustainable product with the idea of ​​“producing more with less waste”. This example reduces me to an idea of ​​“sustainable business,” which is about producing products and services efficiently and sustainably without harming the environment. In this essay, I want to focus on the impacts of business on the environment, the profitability of sustainable businesses, and corporate responsibility. Jeff Butcher and Rachel Hill highlighted the impacts of business on the environment, stating: “The more a product is consumed or produced, the more an externality results” (Butcher, Jeff and Hill, Rachel, 2006). Obviously, we can see that a product produced will bring benefits to consumers, sellers and manufacturers. Meanwhile, that produced and consumed will result in negative externalities for the environment. It is a fact that we cannot deny: the more social life develops, the more externalities will be produced for society. Waste from daily life, industrial waste, carbon dioxide from factories are the most notable examples to describe negative externalities on the environment (Butcher, Jeff and Hill, Rachel, 2006). In “The Tragedy of the Commons,” Hardin showed us the causes of negative externalities. It proved that people take responsibility for amount of paper...amount of water used and prevent environmental pollution not to produce chemical waste dying for environment. Even if these actions will not resolve all environmental pollution, they reflect measures aimed at increasing positive externalities. In conclusion, I must say that there is a strong and invisible relationship between business impacts on the environment, sustainable business profitability, and corporate responsibility. When one of them changes, it will affect the others. When a company adapts an efficient and sustainable system, it will reduce negative externalities and increase positive externalities on the environment. Once the company adapts an efficient business model, it will reduce costs and maximize profits. Obviously, the sustainable and efficient business model will make the company more socially responsible towards the environment..