Business sustainability refers to the managing of triple bottom line that is managing the social, environmental and financial obligations, risks and opportunities (Bansal and DesJardine 2014, pp.70-78) . These three factors are also referred to as people, planet and profits. Corporate social responsibility is the discretionary commitment of a business concern that it will ensure the social well-being along with its corporate success. It is the responsibility of all businesses to improve its economic, social and environmental practices in order to ensure a sustainable business (Carroll 2015, pp.87-96).
Sunselect property group is a 50 years old property developer in Sydney. It has developed various commercial as well as residential properties in the past but in recent times, its reputation has been damaged due to its failure in keeping pace with developments in sustainable buildings. SPG is now working on a project that aims at providing affordable and energy efficient houses to ensure sustainable living.
The key issues found in the Sunselect property group are as follows:
Sunselect property group has various negative impacts on the environment like dust pollution, deforestation, destruction of vegetation and many more. The construction materials used also have an adverse impact on the health of humans and animals. It also requires a lot of energy in its process. It has caused change in climate and global warming (Glasson, Therivel and Chadwick 2013). This has led to unsustainable business as it could not manage the environmental risks.
The basic solution to this problem is usage of recycled construction materials such as steel and aluminum. The use of wood from managed forests shall also ensure that there is no harm done to the nature as it ensures that one tree is planted for every one tree cut. Various heavy machines are used in the construction process that uses non-renewable sources of energy. Instead of using the non-renewable energy, solar or wind energy must be put in use as they will never get exhausted.
The unsustainable methods of construction have led to the devastation of the biodiversity (Khatib 2016). The construction activities of Sunselect property group have always affected the transport movements. This has caused inconvenience to the society. Another problem that came into limelight was that the company did not provide sufficient job opportunities in the areas of their construction. The excessive use of non-renewable resources has also affected the society as they lose their share over the resources that are being exhausted at a faster rate.
The solution to the problem is that the changes in the traffic patterns must be minimized and the local people must be compensated in case of any inconvenience.
The construction of property on fertile lands has adversely affected the economy. Lands from the farmers have been bought by the company which has forced many farmers to relocate themselves (Regan, Love and Smith 2016, pp. 701-706). The company has paid basic amount to the farmers but the uneducated farmers are unable to find any other work in order to earn their livelihood. This has caused disruptions in their lives.
The only solution to this problem is to avoid construction on the areas which are fertile lands and if very necessary, the company must provide enough compensation to the farmers so that they can easily relocate themselves.
The following steps must be taken by SPG in order to improve its reputation:
Being a 50 years old company, Sunselect Property Group must now design sustainable buildings in order to save its reputation in the market. The above mentioned steps must be taken by the company in order to ensure that it does not cause any harm to the environment and the society. The company must ensure that it performs its corporate social responsibilities and works for the development of the society.
Azzi, M., Duc, H. and Ha, Q.P., 2015. Toward sustainable energy usage in the power generation and construction sectors—a case study of Australia. Automation in Construction, 59, pp.122-127.
Bansal, P. and DesJardine, M.R., 2014. Business sustainability: It is about time. Strategic Organization, 12(1), pp.70-78.
Carroll, A.B., 2015. Corporate social responsibility. Organizational Dynamics, 44(2), pp.87-96.
Cook, S., Sharma, A.K. and Gurung, T.R., 2014. Evaluation of alternative water sources for commercial buildings: A case study in Brisbane, Australia. Resources, Conservation and Recycling, 89, pp.86-93.
Epstein, M.J. and Buhovac, A.R., 2014. Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers.
Glasson, J., Therivel, R. and Chadwick, A., 2013. Introduction to environmental impact assessment. Routledge.
Khatib, J. ed., 2016. Sustainability of construction materials. Woodhead Publishing.
Regan, M., Love, P. and Smith, J., 2016. Whole life costing of infrastructure investment: Economic and social infrastructure projects in Australia. In International Conference on Smart Infrastructure and Construction (pp. 701-706).
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