Evaluating Factors to Consider on Attaining Sustainable Business Management (Essay Sample)

SUSTAINABLE BUSINESS MANAGEMENT
Name
School
Course
Instructors name
City or state
Date
Introduction
For management to sustain their business, they should apply sustainable practices in the sections of their companies, society, environment, agriculture, and personal life by managing them to benefit both current generations and future generations. Many companies tend to fail or have hard times when they fail to mitigate the causes of business failure or success. Sustainability is becoming the most important for many companies across all field industries. 62% of executives prefer a sustainability plan necessary to be competitive today, and another 22% think it will be reliable in the future.
In simple terms, sustainability is a business approach to provide long-term value by considering how a given organization operates in the ecological, social and economic environment. Sustainability is made by the assumption that developing such strategies help to keep the company for a longer time. As the requirements on corporate responsibility increase and transparency become more preferred, companies realize the need to work on sustainability. Professional communications and good wills are no longer enough for sustainability.
According to (Fisk, 2010) in businesses, we face challenges that are complex and critical than ever. These challenges may have an unimaginable failure and an impact on the decisions made across the companies. An unstable economy and climate out of control, poverty, scarcity of natural resources extinction of spec
Resilience
Resilience is the capacity to recover quickly from difficulties. Business resilience is how companies are designed to react to crises of various kinds (whether internal or external). Every business franchise faces challenges in every step of growth; these challenges bring about adversity, resulting in enterprises shutting down; business resilience is an essential component of any successful organization. The Covid-19 pandemic has revealed the necessity of resilience. If companies are unprepared or structurally unable to bounce back from tough times, the result is often lost revenue (and lost talent).
Climate change, acts of terrorism, vandalism & accidents are all factors unto which the timing cannot be anticipated & therefore, a company need to prepare well ahead of time. Well, thinking about strategies are to be employed to avoid costly downtime & to maintain business operations in the face of unexpected occurrences. It also helps to strengthen them, make them more agile, and allow them to bounce back after difficult times (Emmons, 2013).
Business resilience is a competitive advantage as It keeps companies thinking, keeps them sharp, and builds a business designed to respond to challenges. Resilient companies approach situations not as challenges but as opportunities for optimization, growth, and success. They handle them to inspire continued confidence from people both inside and outside of the organization. Un precedented crises are now taken care of.
Adaptation
It is the act or process of changing to better suit a situation. The most successful business will be that which is intentional and strategic about managing its adaptive activities. It means adapting your business to the change in your ecosystem and adapting the opportunities within the ecosystem to help your business change for the better.
Organizational change is not optional to keep pace with business. According to (Mihoreanu 2014), many organizations face substantive modifications to some aspect of their business at one time or another. In any organization, there will always be problems that arise from changing circumstances. In noting these problems, some people get the reputation of being complainers rather than problem solvers. To become a fixer, you should identify the source of the problem and suggest direct actions to deal with it.
The organization should always be able to make a profit on work. Value addition to work in terms of organization restructuring brings in good returns. Value addition strategies should reduce organization costs. It is the responsibility of a company to keep customers satisfied& therefore, the company owners should always be concerned with doing their best and getting the most out of their employees. This attitude can provide the extra push to cut costs, improve productivity, and keep customers satisfied (Mihoreanu, 2014).
Most people do not like ambiguity or uncertainty, which are significant sources of anxiety, but they are also facts of life in this fast-changing world. Often you will have to make decisions without having all the points you need or knowing with any certainty what will happen. But, if you are willing to accept ambiguity and uncertainty and not let them prevent you from trying new things, you ultimately enhance your value to the organization. Learning to improvise and adapt to different and unexpected situations will give essential skills that will help the company's progress.