Sustainability and sustainable business practices are keywords that are thrown around ad lib and very few mid to large-sized companies do not have sustainable business governance policies. Yet it seems that if we Google ‘What is the definition of Sustainable Business’ we get an array of different answers to what should be a very simple question. Below is a brief summary of what we at Ffounders’ see as the definition of sustainable business. In simple, non-academical terms.
1. Environmental Sustainability
Most Google searches on the term ‘Sustainable Business’ will give you an abundance of examples of environmental sustainability. At Ffounders Business Society we are committed to supporting our founders of businesses to be cognisant of how their business affects our ecology. To develop environmentally friendly and sustainable production, operational, and marketing procedures to help ensure generations to come to inherit a world that benefits from our efforts.
We understand that a one percent change today, can have an exponential effect on the future of our beloved earth. It does start with a mindset of how we implement environmentally sustainable changes in our own lives. The small changes that seem insignificant at first, can make an exponential difference over time.
2. Economical Sustainability
Fairness, Accountability, Responsibility & Transparency in Governance
Doing business is not easy. There is an abundance of physical and emotional burdens that have to be navigated on a daily basis. Striving towards a high degree of transparency, fairness, and accountability to all stakeholders in the business should be a constant consideration and inherent value upon which all businesses are built.
This includes your employees, clients, suppliers, shareholders, and whoever else is involved.
We should actively support and encourage our staff to better themselves and help where possible, to further their education and training, enabling them to grow within the business. We should all be for equal opportunity, employing and promoting staff based on their skills and not their gender, race, or physical abilities.
3. Social Sustainability
Respect, Support & the Well-being of our Community
No company operates in a vacuum and it is our responsibility to respect and value our stakeholders and the communities which they come from, as well as the communities that we as a company serve.
In return, their support and well-being will influence our ability to perform at the standard required within the markets in which we do business.
Communities are the cornerstone of any business’s success or failure. If the stakeholders involved in our businesses are free of concern or at least have the means to deal with the concerns, our opportunities increase exponentially.
4. Personal Sustainability
We are reminded on every flight we undertake that in case of emergency, we need to ensure that we have an oxygen mask over our face before we attempt to assist anyone else. In life in general, we are of no use to those around us, if we do not take care of the eight elements that make up a balanced, sustainable life.
Spirituality, health & wellness, family & loved ones, finances, career, fun & recreation, personal development & social interaction are the cornerstones of personal sustainability.
The Conclusion on Sustainable Business
Being environmentally aware is without a doubt a fantastic starting point when we consider the definition of sustainable business. It is however important that no sustainable endeavor is possible over time if we do not include the topic of economic sustainability as well as our responsibility towards the social sustainability of our community. Without having enough oxygen to help others in whatever superhuman strength we possess, we can not continue with our endeavors without having some version of a balanced life.
