Research-Technology Management · 2005 · 120 citations · 1 references
BusinessStrategic ManagementStrategyBusiness StrategyCorporate Environmental ManagementSustainable DevelopmentCorporate SustainabilityCorporate Sustainability StrategyEnvironmental StrategyEnvironmental SustainabilitySustainability StrategySustainable Business PracticesOrganizational SustainabilityStrategic Core CompetenciesSustainability TransformationSustainable Strategy
Sustainable development aims to balance environmental stewardship, social responsibility, and economic prosperity, with each goal supporting the others in a successful business strategy. The study proposes that sustainability strategies should be tailored to an organization’s core competencies, finances, skills, resources, and specific sustainability challenges. Developing a sustainability strategy involves thorough analysis of opportunities and threats. Consulting work with the cement industry and the State of Arizona demonstrates that innovation is essential to sustainability-focused business strategy.
OVERVIEW:Sustainable development has three broad goals: environmental stewardship, social responsibility and economic prosperity, for both the organization and its stakeholders. In a successful sustainability-focused business strategy, these three goals will be inter-related and supportive of each other. Developing such a strategy requires careful study and analysis to fully understand sustainability-related opportunities and threats. Bat-telle's consulting work with the cement industry, the State of Arizona and others, shows how innovation is a key element of sustainability-focused business strategy. Furthermore, such business strategies must be customized to meet an organization's core competencies, financial situation, skills, resources, and the sustainability challenges it faces.
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