The concept eludes many, and its vastness and vagueness can be daunting to business. But, incise the idea, shed the semantics and you’ll discover what sustainability is; what it means to your organization, and what’s meaningful to your business.
Depending on the attributes of an organization, sustainability can and will mean different things. But in general, sustainability is simply defined as success in perpetuity; it’s the business’s capacity to endure. Sustainability is comprehensive - there are social, environmental, and economic dimensions - thriving only in one dimension is not sustainable. If you’re meeting your environmental goals, but the venture isn't profitable, your business is not sustainable.
Here are some (just a few) of the attributes that define a sustainable organization:
The business is creating, delivering and capturing value in a sustainable way;
Assets (tangible and intangible) are sustainably managed, optimized and revitalized when required;
The business has a mechanism to foster and surface innovation and good ideas no matter where in the organization they’re generated;
Environmental and social aspects are considered on the basis of what the business will take ownership of, action on, or an interest in, and what is immaterial;
Wealth and value is created for all stakeholders (internal and external);
Business functions are aligned with a sound dynamic strategy to endure in perpetuity;
Risks to the enterprise are identified and understood. Risk responses are planned;
The business has a successful mechanism to continually adapt and manage change; and,
The organization capitalizes on opportunities realized through changes in society, government, technology and natural and human resources.
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