The article Introduction to sustainable development (n.d ) further states that the implementation of sustainable development strategies confers a reduction in companys risk. It is therefore a key factor for the shareholders and investors to put it into consideration in decision making. When this is put into consideration and the company works achieving sustainable strategies it will increasingly be attractive for investors. As the article further state with industrial production on the rise, cleaner and more sustainable business practices must be implemented to avoid the negative experiences of the past. In this context the private sector is thus becoming one of the key stakeholders in sustainable development.
Consuming differently is another key aspect in sustainable development. Statistics show that World consumption has expanded at very high rate. The article states that consumption in itself is not bad because all living things must consume to maintain biological existence. The important areas as far as the company is concerned are the consumption levels, patterns and effects of consumption. The article thus states that the environmental and social impacts of consumption are being felt at both at local and global levels. Locally, the company should work at decreasing pollution and reducing the sense of its alienation within our communities. Thus Globally, climate change and the depletion of the ozone layer are but two stark reminders of the impact of our consumption levels (Introduction to sustainable development n.d). The need to shift how we make decisions is very important as consumers. It is important to emphasize to the members of the organization to shift from thinking about the means to thinking about the ends.
Policies must be developed that promote consumption patterns. This on the other hand helps to reduce our ecological footprint while at the same time meeting the needs of all people to enjoy a good quality of life. According to Keijzers (2004) much emergent evidence shows that consumption is at least as important to the environment as is population. It thus states that we have to change our outlook in the coming decades in order to find ways to consume less, to consume more discriminatingly, to consume more efficiently and hence enjoy richer lifestyles (Keijzers, 2004).
In addition Hargroves & Smith (2005) suggests that sustainable development should not be left to the government alone, while the citizens should not believe that they can simply wait for change and blame the government if it does not come. In the real sense it is the interaction and engagement of all of the sectors in society that should work towards achieving sustainable development. It should therefore be a collective responsibility spanning from the top management of the company to the junior staff. With this realization the company should also extent the same understanding to the surrounding environments.
The other important drive towards the achievement of sustainable development is how people organize themselves. The company should establish rules that govern the actions of all its employees. This further plays a major role in determining whether the company moves towards more sustainable paths. The management should at the same time commit itself towards good governance, reform decision making processes to allow the participation of the rest of staff members within the company. According to the article Introduction to sustainable development this will on the other hand help establish good pathways for sustainable development within the company, enhance understanding and relationships, and increase eagerness to participate leading to better implementation of decisions.
Therefore Hargroves & Smith (2005) stated that when approaching towards sustainable development the company should be able to solve their problems, including the participation by all staff members. This therefore means working and taking decisions together. The important of this is empowerment and at the same time it reduces corruption and misuse of power for personal interests. Through reorganizing ourselves the company will expand its understanding of appropriate technologies that can be used in achieving sustainable development. It is also important to note that achieving sustainable development requires an increase of income of the company hence the management must find alternative types of systems that provide high levels of productivity and meaningful work (Introduction to sustainable development).
Keijzers (2004) found out that it is important to analyze some of the key aspects to improve the internal strategy of development of enterprises. These include systematic investigation of the ecological and business horizon of the company, ensure systematic charting of regular business relations and stakeholders of the firm and identify potential new players in the market. He further notes that the company should perform strategic investigation of sources of potential value creation, allowing attention not only for not only eco-efficiency but also cost savings. The management should focus on potential development ecologically and economically besides ensuring production of superior products that are purely green. Above all Keijzers (2004) suggests that development of internal organizations structure that allows the full integration of the producers towards attaining sustainable development.
Companies should design criterias for business investment strategies which would help them gradually become sustainable enterprises. Keijzers (2004) suggests the steps that a company can follow to achieve sustainable development which can include firstly signaling their intention. This involves a change of the frame work and not just improving the old models. The second step is enriching the investment criteria by adding the required inherent ecological soundness of new products and production technologies.
Innovation is the third step according to Keijzers (2004) towards achieving sustainable development. The management should recognize the opportunities of new markets especially in the emerging poor economies. Rematerializing aims at making products with no harmful substances that can be safely recycled.
Hargroves & Smith (2005) continue to say that conservation of biodiversity and ecological integrity is essential component in realization of sustainable development. The company should also be committed to best practice and practice the principle of continuous development. These two aspects ensure that the company not only achieves sustainable development but also that it achieves a cutting edge in the todays competitive business environment. Hargroves & Smith (2005) further state that these concepts bring together the idea of sustaining some things and changing other things for the better in order to improve the condition of people and maintain the tings we depend on.
When organizations concentrate on environmental, social and economic issues there is indeed a big probability that they will achieve sustainable development. Hargroves & Smith (2005) indicated that continuity and change, means and ends combine in interesting but practical ways to achieve sustainability of the things that the society uses and values. Thus they said in order to sustain things we value ethically, we need massive innovation hence change in other parts of society means to achieve the sustainability goal (Hargroves & Smith, 2005). If the company is able to sustain the things they value then logically it is vital that the company achieves sustainable development. It is that important to approach sustainable development goals with a very practical mind set, in which every one understands that sustainability goals are goals to be achieved with no major trade-offs.
In conclusion leadership of a company in sustainable development should define a new business logic. Schmandt & Ward (2000) stated that there must be great concerns from the top management to ensure conventional corporate strategic concerns about time, quality, cost reduction, distribution and critical staffing issues. They thus continue to say that with these factors in place one can begin to see the emergence of sustainable development within the corporate environment. Schmandt & Ward (2000) indicated that sustainable development should be guided by proper training across the company in order to provide a good environment and background for its implementation.