Question

What are your thoughts on the impact and practices of sustainability? As it relates to International Business. References are encouraged.

Answer 1

More generally, sustainability is often described as meeting today's generation's requirements without sacrificing future generations ' capacity to satisfy their own requirements. It has three fundamental foundations such as economic, environmental and social. These three pylons are officially means people, planets and profits.

Sustainability is an option for some businesses to create a range of attempts and advertise for it. In addition, the counterintuitive impact of driving company leaders towards sustainability is market competition. There is a perspective that takes into account the notion of doing good by doing good. This concept indicates that if businesses do their work correctly and have a good impact on society, their clients will eventually rise in demand as well as their finances. Not only will they attract clients by doing well, with this idea they will also attract investors.

Different regulations can be confronted when a business works in an global setting and therefore the company's governance should be adapted accordingly. As a consequence, in addressing environmental, financial and social requirements, it may be simpler to preserve sustainability within the national setting. Corporate sustainability and climate risk reporting have a range of national methods. These methods are simpler to embrace when working at home.

The other view says that in these complicated and hard circumstances, global businesses will attempt to discover more smart and innovative alternatives to survive and offer a comparative advantage. There are several issues that need to be addressed by global companies. They need to innovate and generate good employment and develop products and services that are affordable. They also need to invest in multi-national ways to enhance society and react to worldwide problems

Operating globally and building sustainability across the corporation can be complex, but there is a chance behind this concept. In order to find alternatives to the specific circumstances, international companies need to be smarter. If they see this as an opportunity and can reach sustainable alternatives to maintain their businesses alive in this difficult setting, they can become more sustainable than national firms.