The operations of a business should not always be geared towards profit maximization as a going concern. A good business practice involves being sensitive to changes in the external environment such as social problems. It is a significant opportunity for a business to have an active role in offering solutions to social issues. In this digital era, major social problems are rising such as access to water, food insecurity and climate change; this has sparked an interesting discussion in the G8 summit as well as UN conferences. These social issues have remained unresolved due to lack of willingness to invest in critical areas. Lack of social interests in business implies a business is insensitive and operates in a vacuum. It an unrealistic scenario because every business activities are affected by both internal and external environmental factors. The conventional way of forming Non-Governmental Organization to handle social problem has proven to be futile because the desperate social conditions still exist around the world.
Businesses around the globe should be on the front line to take charge of present and future emerging social problems. For instance, Unilever Company stands out to be the most effective business and environmentally conscious organization according to Harish Manwani, the Chief Operating Officer. A great business makes profits at the same time makes the surrounding sustainable. Donating funds to communities around for sustainable projects not only uplifts the living standards but also ensures the long-term survival of the business is stable. Small actions such as creating awareness on hygiene and nutrition make a huge difference in promoting healthy living among community members rather than remaining passive on matter health. Sustainability, as a collective effort, requires that the government, donors, businesses both private and public as well as NGOs engage operate in an integrated manner.
On the issue of renewable energy, it is essential to adopt sustainable energy-saving strategies. For instance, companies can seek for other best alternatives such as wind turbines and solar panel to produce renewable energy. Using technologies that increase internal efficiency to maximize output improves the prices and quality of final products. However, a call for sustainability should not act as sabotage to quality and access to products and essential services. Sustainability is a way of making the impossible a reality to everyone and not a luxury to the elite class. Sources of renewable energy such as nuclear technologies, offshore wind, solar thermal and biomass gasification mitigate problems of global climate change. The cooperation at regional and international levels should facilitate universal access to clean renewable energy. The 2015 UN report on sustainable energy, indicated that 1.1 billion individuals around the globe lack electricity and use charcoal, wood, and kerosene for cooking. Poverty in such as areas is a significant cause of unsustainable clean energy. There is a need for businesses, global economy and politics to accelerate the renewable energy projects counter the large gap of energy deficits caused by high consumption rates.
Besides creating renewable energy, eradicating poverty as part of Sustainable Development Goals, positions the business in a leading position to realize this goal by 2030. Redirecting the investment into sustainable projects reduces the gaps in social class. For instance, concentrating on developing economies is vital because they are emerging markets faced with socio-economic problems such as unstable currency and slow economic growth. Sustainable development in developing economies have an untapped value that once realized the business environment would be healthy and markets will expand. It is factual that as much as we call on the business fraternity to lead the way towards sustainable development, it is essential for the business to weigh the investment risks and possible interference in business operations. The value of sustainable development should be measurable to motivate business involvement.
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