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What sustainability strategies might you recommend for the industry sector in which you work, or intend...

What sustainability strategies might you recommend for the industry sector in which you work, or intend to work - the accounting/financial industry? Explain why you would make these recommendations. Consider time frames, likely effectiveness and costs. If necessary conduct independent research. 200–250 words

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Answer #1

One of the important objectives of business is Sustainability. The approach aims at generating long-term benefits for business, where it is meeting the present needs without compromising the ability of future generations.

For the industry following aspects recommended to be given special considerartion:

  • Innovation & Technology: It is recommended to invest enough in R&D projects for continuous innovation in the product as, the only thing that brings success is updations & providing improvised services to customers.
  • Collaboration : The foremost important part of any business prosperity is how it maintains collaboration with ts business partners. Good cooperation & active collaboration has always brought goodwill & good identity for the business in the industry
  • Processes : To conduct business operations efficiently & effective, clear processes & roles should be defined.
  • Knowledge Management : Any business which becomes established also has to manage its skills over a period of time. Different methods & plans shall be made to maintain company's skills & to further add to its knowledge base.
  • Reporting : At last reporting of the work helps to determine the performance results & to make further improvements, hence it is advisable to maintain sustainability report separately or integrate it with main report.
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