Sustainability is the capability to continuously conduct certain activities indefinitely. The study of sustainability is evolving and is often viewed in three dimensions known as the Three Pillars of Sustainability.<\/p>\n
Environmental Sustainability is:
\nThe capability of the globe to sustain levels of pollution, nonrenewable resource depletion, and renewable harvesting proceeding on an indefinite continuum.<\/p>\n
These environmental sustainability parameters are:<\/p>\n
Nonrenewable resources. The depletion rate is lower than the rate of development of renewable substitutes for the equivalent resources
\nRenewable resources. The rate of regeneration should exceed the harvest rate
\nThe capacity of our environment to absorb waste should exceed the degree of waste being generated
\nEconomic Sustainability:
\nThe capability of an economy to indefinitely sustain definitive levels of production<\/p>\n
Social Sustainability:
\nThe ability of human systems to indefinitely operate at a definitive level of harmony and social wellbeing. Genocide, corruption, systemic poverty, illiteracy are examples of socially unstable systems<\/p>\n
Limitations of Global Sustainability Management:<\/p>\n
Most Sustainability Management Programs do not focus on managing all three pillars of sustainability. The emphasis is usually on one of the pillars at the expense of the other two. This challenge is also noted in initiatives led by organizations like , which aim to strike a balance across all pillars.<\/p>\n
Table 1, Focus of influential Sustainability Organizations<\/p>\n
Sustainability Organization<\/p>\n
Benefits of leveraging Sustainability Programs:<\/p>\n
Investment Opportunities. Many organizations enhance their access to investment capital solely because they have sustainability programs
\nLeverage of Innovation. To accomplish excellence in all three pillars of sustainability is a formidable task many organizations like Levi\u2019s Strauss and Ikea are leveraging innovative processes to realize excellence in economic, environmental, and social sustainability
\nCompetitive Advantage. The demand for sustainable products and services is an increasing trend and a major requirement to realize a competitive advantage
\nEngagement of the Workforce. Leveraging social sustainability in the workplace in the form of flexible schedules, safe and ergonomic workspaces, meaningful work, and effective rewards and recognition programs often result in highly engaged, inspired employees. Approximately 85% of the workforce in the United States is not engaged in their work. One can imagine the economic impact of this phenomena
\nCost Reduction. Each of the three pillars of sustainability is an opportunity for cost reduction and avoidance. This approach is integrated in the operational strategy at , where sustainability efforts align directly with efficiency goals.
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Sustainability is the capability to continuously conduct certain activities indefinitely. […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18670","post","type-post","status-publish","format-standard","hentry","category-procurement"],"yoast_head":"\n