Proceedings: Sustainable Development in Business: Striving for aNew Paradigm

Business sustainability refers to doing business without negatively impacting the environment, community, or society as a whole. A growing number of organizations are integrating sustainability into their business strategy. Sustainability in business generally addresses two main categories such as the effect business has on the environment and the effect business has on society. The main goal of a sustainable business strategy is to make a positive impact on these areas. When companies fail to assume responsibility, the opposite can happen, leading to issues like environmental degradation, inequality, and social factors when making businesses decisions. These organizations monitor the impact of their operations to ensure that their short-term profits don’t turn into long-term liabilities. Businesses and societies can find approaches that will move towards all three goals-environmental protection, sociial wellbeing, and economic development at the same time.