Define and explain the concept of sustainability management and discuss whether adopting a sustainability management approach can provide useful information for management. Provide your justified opinion on whether organisation should adopt sustainability management or not.
The term sustainability management is derived from the term sustainability which is synthesized in the management concepts. The term sustainability contains three twigs. One of the twigs is the nature; another one is the economic, and the last twig of sustainability management is the needs and the importance of the present generation and future generation (Hansen and Brown, 2011). In this research, the analyst will describe the concept of sustainability management, the benefits of the sustainability management and the importance of sustainability management.
All the company should absorb the principle of sustainability management. The main principle of sustainability management is: Maintaining the meeting of daily needs of the every person in the world for the present generation and the meeting of daily needs of the world for the future generation. According to World Council for Economic Development (WCED), every person of the present generation should maintain the general needs in the world for the future generation. So, the development of industry should be sustained by the people working in the company (Hansen and Brown, 2011).
From the study, it is seen that the organization goal have conflict with a concern for social and environment in conventional business operation. The sustainability management reduces the wastage of resources. Sustainability management deals with internal processes of the organization. In this process, the resources are acquired and managed to enhance the value for stakeholders. Stakeholders mean all the people (staffs, shareholders, and partners, etc.) who are directly and indirectly concerned with the organization of the value chain. It enhances the ability of the substance to the social environment and put back the natural environment within the operational area. The sustainability management can increase the efficiency of the activities related with business operation.
Sustainability management is very important for the business organization. It improves the operation of the business organization and reduces the future obstacles of social and natural environment and maintains the relationship with stakeholders. It also supports the organization to perform in the difficult situation.
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