Sample Essay on Business Sustainability Management

MGT 7800

The overall strategy of a business entity is to maximize its profitability while improving its competitiveness. These two elements of a business complement each other in perfect synergy. It would be difficult to achieve one without the other. Nevertheless, the real debate is not how to achieve competitiveness and profitability but how to sustain these two elements. The marketplace will generally react to a firm’s set policies regarding sustainability and growth. The reason being these two are mostly antagonistic; the pursuit of sustainability may influence growth and that of growth may influence sustainability adversely. A suitable balance between sustainability and growth encompasses an acceptable level of sustainability. Several resources are required to achieve this end.

The first resource is customers. The level of profitability for a firm is determined by the number of customers. On the other hand, the level of sustainability of the firm is pegged on its ability to retain these customers. A company that makes new customers and retains them is both sustainable and growing. Secondly, is operational expenses (Llopis, 2016). A growing business cannot avoid having large expenses as growth involves an increase in assets, workers, and utility payments. Conversely, a sustainable business is able to maintain its expenses at an acceptable level. As such, the decisions regarding a firm’s operational expenses will highly determine its level of sustainability.

The third critical resource in achieving the desired level of sustainability is good and visionary leadership. Knowledgeable management will know when to invest for growth and how to invest in such a manner that the business remains to be sustainable (Hoque, 2015). Several big corporations like Amazon have managed to undertake huge growth investments while maintaining a high level of sustainability. Other important resources in achieving sustainability include viable partnerships and collaborations, a strong brand image, and having a skilled workforce.

References

Hoque, F. (2015, August 20). The 7 Fundamentals Of Sustainable Business Growth. Retrieved from https://www.fastcompany.com/3049856/the-7-fundamentals-of-sustainable-business-growth

Llopis, G. (2016, August 9). Top 6 Ways To Sustain Business Growth. Retrieved from https://www.forbes.com/sites/glennllopis/2015/09/29/top-6-ways-to-sustain-business-growth/#1af7701e67