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CHAPTER 5. Defining Business Sustainability

Today major fund managers want to have complete confidence that their capital is protected in an investment that is well managed, with a company's management being accountable for business performance.

Dow Jones Sustainability Index

a business approach that creates long-term shareholder value by embracing opportunities and managing risks deriving from economic, environmental and social developments.

Sustainability will require an organization to have the ability to manage its risks with the creation of strong business principles and international management system framework (quality, environment, health and safety) for business productivity, innovation, and success. The decisions made today will impact the success of the business, quality of life, and the meaningful future of our world.

Sustainable development as outlined on the International Institute for Sustainable Development website iisd.org is defined as “Environmental, economic and social well-being for today and tomorrow.”

Business leaders need to think about their business as a part of our world's system, where business management interacts and impacts us all.

Pilot's Definition of Sustainability

The ability to sustain business.

Source: Pilot Performance Resources Management Inc.

Definitions of Sustainability

The first step in having business success tied with sustainability is to determine your definition of sustainability.

Here are three definitions to consider. What will be yours?

1. UN: “Sustainability calls for a decent standard of living for everyone today without compromising the needs of future generations.”

2. Dow Jones Sustainability: “A business approach that creates long-term shareholder value by embracing opportunities and managing risks deriving from economic, environmental and social developments.”

3. Pilot Performance Resources Management Inc.: “The ability to sustain business.”

 
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