Businesses are recognizing their responsibility to balance profit-making with contributing positively to the planet and society
Environmental sustainability focuses on minimizing harm to ecosystems and ensuring the planet’s resources remain viable for future generations.
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Businesses are recognizing their responsibility to balance profit-making with contributing positively to the planet and society. Global sustainable enterprises are at the forefront of this shift, embedding environmental, societal, and economic sustainability into their operations. This comprehensive approach ensures long-term viability and a meaningful legacy.
“It is at the intersection of the environment, societal and economic where true sustainability lies,” said Shirley-Ann Behravesh, assistant professor of global sustainable enterprise at Thunderbird School of Global Management at Arizona State University.
“We cannot make decisions that are purely economic without considering the other two domains. If we are, then we are leaving out some important factors.”
But what exactly does it mean to run a global sustainable enterprise, and why is it critical in today’s world?
“We think about sustainability in the realm of the environmental, the societal and the economic,” Behravesh said. “As an entrepreneur, someone who runs a business, you need to understand how each one of these three things works for you.”
[This article has been reproduced with permission from Knowledge Network, the online thought leadership platform for Thunderbird School of Global Management https://thunderbird.asu.edu/knowledge-network/]