It is difficult to sustain an enterprise in today’s unpredictable and volatile environment. Businesses used to just focus on economic sustainability in the past. Business owners and managers must now balance revenue growth with social responsibility and environmental issues, among other sustainability concerns, because of the increasing demands from stakeholders.
We asked Mr Mar Veran (our resource person for business sustainability), where companies and organisations should focus their attention.
Social Responsibility
Social responsibility was once viewed as only philanthropy or volunteerism in the past. However, today’s stakeholders expect that the company’s potential negative impact on the social fabric of its operations must be assessed and addressed. Companies should be accountable for the well-being and benefits of their employees.Ensure that they are responsible for the well-being of their customers and communities. Imagine a company that has demoralized employees and constant complaints from the customers and communities they serve. This company would thrive.
Sustainability for the Environment
Your company may still have resources today and be able to continue operating even after natural disasters like floods, typhoons, droughts, etc.However, this may not be true in the near future. Companies are often unaware of their environmental impacts. Businesses need to understand the importance of managing their resources (energy and water, materials), air emission, and hazardous waste. Companies should adopt ecofriendly practices in their operations, focusing on reducing natural resources consumption and minimizing the release of waste.
Good Governance
It is essential to have a solid foundation of good governance in order to achieve success in balancing the economic, social, and environmental sustainability. Businesses must ensure continuous stakeholder engagement, taking into consideration what is important for them, and that their sustainability management system (or any policies or operating procedures) are in place. This is done in accordance with the principles of transparency, accountability, and accountability.
Veran will lead a virtual workshop entitled Sustainability 101: Ensuring businesses responds to environment, economic and social issues. It will be held on June 17-24, 2022. This eight-hour course is for managers, supervisors, and experts, especially those in the following roles: Operations, Engineering. Human Resources. Investor Relations. Finance. Supply Chain. Compliance. Corporate Communications.
For more information, write to [email protected]Send an SMS to these numbers: 0919.3428667 or 0998.9641731.
Inquirer Academy can help you design and facilitate a virtual workshop, webinar, or self-paced online course to meet your organization’s other learning needs.
The author is the Executive Director at the Inquirer Academy.
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