Unstainable business strategy and its impact on financial performance
Competing in a volatile business environment requires companies to choose appropriate strategies.
However, the complexity of the competitive environment of companies and the uncertainty of business makes it difficult to develop effective strategies. In this context, a sustainability strategy is emerging that integrates the enterprise's economic, social and environmental objectives and surroundings. This project aims to enhance knowledge of the essential elements and systematics of implementing a sustainability strategy in an organisation to build awareness of its impact on financially Sustainable business; in other words, the ESG model is a modern approach to business. Sustainable business and the resulting ESG framework are based on the idea that long-term business success depends on implementing the right environmental and social systems. Creating a sustainable, fair and equitable economy will require fundamental changes in business operations. In particular, businesses bear some responsibility for many of the social and environmental problems currently affecting society. The continuation of the preceding course of action, the waste of scarce resources, the creation of excessive amounts of waste, and the excessive emission of greenhouse gases are causing a threat to the stability and security of humanity. With the current trajectory of human economic activity, our planet could face changes beyond recognition within the next generation. Sustainability should, therefore, be an integral part of business.
Every company has the power to create solutions and drive sustainable change. However, every company needs strong economic backing to support this change. A sustainable business model and ESG do not underestimate the importance of financial performance. These models focus on optimising business strategy for the environment, human society and economic well-being. Considering this, a growing body of evidence shows that an effective sustainability strategy will increase profits and create new opportunities.
We encourage you to read the studies as part of the Sustainable Development Academy - ESG management project.
2021-2-PL01-KA220-VET- 000048665
