In the past, managers and businesses saw sustainability always as a costly endeavor with no real payoff. Recently, however, this perspective has changed: Being sustainable is now seen as an opportunity for innovation, new market opportunities, and the creation of value.
Businesses that thrive in the future will be those companies that figure out how to place sustainability at the heart of their business strategies. Three major categories of change are transforming what business and sustainability mean: climate change, technology, and economic shift.
The ABC (Act – Build – Change) framework provides a blueprint for putting sustainability at the center of business strategy, corporate governance, management, and partnerships. It enables companies to play their full part in the creation of a more sustainable and better world.
The concept of the Circular Economy (CE) has been around for decades, but it’s only recently that it’s gained traction as a way to address the world’s growing waste problem. The goal is to share, reuse, repair, refurbish and recycle existing materials and products as long as possible.
This course focuses on the combined three-dimensional social, environmental, and economic impacts of a sustainable business. In this chapter, however, we will talk about businesses that focus exclusively on their environmental impact, which is also referred to as a green business.
Now it’s time to test your knowledge and get your course certificate. You will be able to download your certificate after reaching a minimum score of 80%. You can retake this quiz as often as you like if you do not reach this score.