Article #3: Sustainability as a Business Model

By: Peyton Roberts

For a business to be sustainable it must merge people, planet, and profit. However, what does sustainability mean?

The definition of sustainability is the ability to maintain or support a process continuously over time. In this scenario, it means that the business will thrive in the world.

To get the business to this point it must consider the social, environmental, and economic factors (people, planet, and profit). The social factor is that all of the workers are justly treated, are profiting from the business as well instead of only the owners, have a safe working environment, and are getting fair wages.

Environmental sustainability is about making choices to help reduce the businesses negative impacts on the environment, such as carbon footprint. To achieve this a business could use renewable resources or make biodegradable products. They should also reduce waste, which can be done by using less raw material and by redesigning packaging.

Finally, economic sustainability is the financial aspect of the business. For a business to be economically sustainable it must focus on building a company with long-term profits, instead of short-term. This means that the business will build its profits, also focus on growth, and will have less chance to have a dramatic drop in its earnings and possibly fail. When a business merges these three factors, it will thrive, grow, and be successful in making its workers happy, keeping the environment safe, and by making long-term profits.