Mindset for Sustainability

Statement 1: "Sustainability is a big waste of time; it uses resources. Businesses exist to make money."

Sustainability can be defined as the balance between the environment, economy and equity, with no doubt that some business leaders view it as a big waste of time and use a lot of unnecessary resources (Calabrese et al., 2017). In addition, they view businesses as money-oriented entities. A business may waste its capital or resources through sponsorship of various activities with no or little return, through physically being involved in such activities rather than increasing production, overinvesting its money in the green economy. In addition, going paperless will not only be vulnerable to information security but also added cost. Finally, business Using its capital to do other outside projects weakens its competitive advantage over other businesses.

It is noted that the first thing that comes to the entrepreneur's mind while starting a business is an optimal profit at minimum cost. Sustainability comes with a lot of costs in terms of initial cost and running it. For example, an organization sponsoring a team or charity work will dig deep in its profit pocket to run such sponsorship while else such funds could be used to add more stock in the business or increment shareholder's earnings (Calabrese et al., 2017). While many companies usually sponsor games such as the English premier league, the return may be very little compared to those funds invested in the stocks exchange market and bonds. Therefore, businesses should use little or avoid over-emphasizing such activities.

 Another example is transiting into green energy use. Embracing this system requires a high cost in installing windmills and solar panels, which may not have a faster impact on the business income generation. The common belief that a business is a profit maximization entity means that the cost incurred while installing such a green system and other sustainability features may translate to product price increment (Ekins & Zenghelis, 2021). The increment in the price of products translates to low demand, which leads to low sales, hence lowering the company’s earnings. Green raw material products can be scarce. For Example, Green work Company buys its products from far countries such as Asia countries. Most of these businesses find themselves satisfying the society or government needs over theirs. Therefore, businesses should opt for minimal green transition while checking on their income.

Sustainability attracts not only extra cost but also time. Most of the business takes most of the time while developing the best alternatives of maintaining the environment and checking on the best societal practices. A lot of time is wasted. In addition, most of the staff are involved in running the environmental matters such as planting trees and garbage maintenance activity with zero return to their business. This activity may seem appealing to society, but at the same, it is a time wastage to the business, a time that could be used in generating the business income (Ioannou & Serafeim, 2017). Therefore, overemphasize Sustainability is time-consuming to the business rather than productivity.

In the world business, capital growth and maintenance is a vital subject to maneuver in the market. While trying to adopt these sustainability strategies, it is evident that most of the companies are reluctant due to their cost. Hence when a business tries to adopt such, it means extra cost to the business and added advantage to the other competing firm. Example companies A and B run a lottery business. B may opt to sponsor a league due to a show of unison with the community around. While business is a matter of boom and recession, company B may suffer financially while using the little profit in the recession period. Company A may choose to ease or lower their prices since they are not committed to any projects hence attracting more customers than Company B. Therefore, company B may suffer a competitive disadvantage at the expense of Sustainability.  

Important details of the business remain a threat to the company itself if not handled with care. They may lead to either closure of the business or depriving part of the business income to get them in the order information, among many other unforeseen insecurities. For example, a company that stores all its information in only software copy may lose a lot of such information if hacked, and they have no other place to trace them. Such information could be contracts and deals or business registration information.  The use of many IT products in any production is also an added cost to the business.

In conclusion, as long as Sustainability is overemphasized, the business will find it difficult to balance its core purpose and the aspect. Sustainability should be the last thought after the business's core purpose is attained and shouldn't be overemphasized.

Statement 2: "Sustainability is a duty that we have to our environment, our society and our organizations"

Sustainability might be costly and time-consuming, but it is the sure way to balance the current and the future. While focusing on Sustainability, a business can counteract a problem that might affect it in the future emanating from the environment and society. For example, it is the responsibility of a business to ensure that the environment within its operation is safe both for the business and the society. For example, a business that does not check on its waste material may prompt society to demand its closure and hence a loss to the owner.

Secondly, every business should always check on the needs and demands of the society in which it operates. Doing so creates a strong bond with the community, which may create a conducive environment for them to operate. This can be done through sponsoring their various needs, such as sports and medication. Although Sustainability is viewed as costly in terms of initial cost in the short run, it is extremely beneficial to the business, society and environment in the long run (Agüera, 2021). Concerning business, it lowers the cost of production due to reduced energy cost and loss emanating from power shortage. It ensures the environment around is safe and conducive and prevents any conflict from society. This is achieved by using windmills and solar panels and the best waste storage and convertible methods.

Most of the employees would love to work in firms that address issues of the environment and society in the best manner. Putting sustainable strategies in any business means that employees are happy to work in such an organization and hence low employability turnover. This can be achieved through the establishment of proper ethical culture or enhancement of corporate social responsibility.

 Lastly, Sustainability allows a business to be secured against the regulatory standard and increases its reputation (Goworek, 2018). This prevents the business from occurring an additional cost due to litigations. Such additional cost lowers the profit margin for the firm. Such litigation may emanate from employees, customers, society or government agencies.