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Sustainable Development in Business - Case Study Example

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Sustainability is a method of harvesting or using resources so that the resources do not exhaust and or permanently get damaged. It also involves a lifestyle involving the use of sustainable methods. It has taken many forms in variant aspects. Sustainability also means living within the limits and understanding the interconnections amongst society, economy and environment…
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Sustainable Development in Business
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Andrew Mangan, an environmental entrepreneur promoted BPS or by-product synergy programs as a means to achieve the goals of sustainable development. It is a process that helps the companies to discover new ways in order to convert the waste products into saleable commodities. The goal of Mangan is actually twofold - to promote the wider adoption of BPS programs and also to create business out of helping the companies adopt such by-product synergy programs. (Anderson T., and Mackenzie S., n.d.)
There has been a lot of research in the field of sustainable technology and design along with the adaptation of business tools, but in most of the instances, the well designed technologies fail to become broadly adopted, not due to the fact that there are flaws in the technology but due to the reason that there is inadequate sustainable method of servicing, distributing, and improving the technology. Any business needs start up capital in order to fund the design of technology and its development along with a self sustaining revenue stream, which would support the growth as well as be meaningful in terms of reducing pollution. The reason behind the development of EnviroFit International business model was to allow for the design, development along with the dissemination of environment friendly technologies all over the world. This model leverages the participation of the local in country stakeholders in order to ease acceptance and the implementation of RetroFit technology. The key components of this model are using donations for the development of technology as well as operating profits from the product sales to growth, support operations, emissions trading, microfinance and also local partnerships. This business model is till in progress and is executing the business plan along with reducing the perceived risks, by making progress against the value setting milestones like raising investment capital, field tests and developing important partners in supply chain; these would increase the credibility of the business model and also its management. This business model would be highly beneficial for those environmental technologies that lack necessary profit margins in order to make them attractive to the traditional for-profit model. This would provide sufficient margins in order to sustain a particular enterprise without continued infusions of donations or capital. This business model would also in effective in reducing the environmental pollution. (Hudnut P., Bauer T. and Lorenz N., n.d.)

Triple Bottom Line was originated among the investors seeking a way of putting their money in those enterprises that are economically profitable, socially just and environmentally sound. It is the need of the time to model the systems properties or the ecological characteristic of various domains of productivity and also to design the institutions of monetary and financial services, which can optimize the productivity in these domains. The theory and the institutions should base on the concepts of triple bottom line. The concept of ...Download file to see next pagesRead More
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