green business
The prominence of sustainability does, to a large extent, depend on its commercial capabilities. Consequently, means of integrating sustainability into the business agenda are required. (Corney, 2007) This implies the need to balance traditional economic goals with social and environmental concerns, so creating a new measure of corporate performance. A business strategy focused solely on pure financial outcomes can obscure opportunities to pursue innovation and create value in the design process (Corney, 2007).
As the concept of sustainability becomes firmly entrenched in corporate culture, many business leaders today are discovering the process of measuring performance against sustainable objectives (Pitts, 2004). The equitable consideration of these concerns- economic growth, environmental protection and social equity- traditionally considered impractical and idealistic, has begun to define both long-term strategy and everyday practice for green businesses all over the world (Mcdonough, 2004).
A commitment to sustainability begins with a clear understanding of economic goals. These goals are accrued by successful business people through the sense of purpose of wealth and job generation that their enterprise creates (Pitts, 2004). This, coupled with a notion that they need to help the environment often generates good sustainable business practices/green business. The practices that arise from this perspective tend to be resource efficiency measures or attempts at minimizing the impacts of industry. These are important first steps toward identifying problems, but ultimately they are strategies for reducing harm and managing negative effects. But reducing harm is only laying the groundwork towards positive sustainable impact (Mcdonough, 2004)
Commerce can be a powerful catalyst for social change. Whilst there is a view that it is virtually impossible to consolidate capitalism and true sustainable commitment, an emergent class of sustainable innovators is coming into existence and developing exciting new green business models that use the mechanisms of the marketplace to serve the greater societal and ecological good (Cairns,2004).
Employing the proactive concepts capitalism, these social entrepreneurs are building enterprises that effectively deliver positive change (Mcdonough, 2004). The practitioners of these new business models are transforming conventional notions of profit, value and wealth. Instead of traditional capitalism's narrow focus on short-term profit making, social entrepreneurs are cost-effectively creating ecological, social and economic revenue, both in the short-term and for future generations(Mcdonough, 2004). This work is a sign of constructive progression towards the creation of a truly regenerative economy with far reaching societal, environmental and economic benefits (Cairns,2004).