Sumary of Rethinking sustainability in business:
- When the health crisis wreaked havoc, it left businesses rethinking their operational and leadership strategies.
- Amid all the repercussions of the pandemic and other catastrophic worldwide events, a new concept is gradually becoming the new business reality – sustainability.
- We have often heard of the buzz phrase sustainable business practice.
- It is not a new concept and has formed part of business strategies for several years now.
- The United States Environmental Protection Agency defined sustainability as a social duty and moral responsibility of corporations to preserve environmental conditions for future generations.
- Looking at it from the point of view of consumers, an International Business Machines report showed that almost 70 percent of consumers in America and Canada look for brands that are sustainable and products that are eco-friendly.
- Needless to say, environmental issues like climate change have driven consumers to shift their gaze to more sustainable, environment-friendly products.
- These figures allow companies to get a glimpse of what the future of business looks like.