Is your business in the fast lane?
In this article, the final article in the series – “Is your business in the fast lane?” – I concentrate on the importance of Sustainability in helping your businesses reach the fast lane. Other articles focus on other areas to ensure improvement, growth and sustainability of your business.
Sustainability to me can mean one of two things, one sustained profitable growth of your business or two how your business impacts on the environment and community. Both of which can impact your bottom line.
Firstly, re sustained profitable growth each of the aforementioned articles has their own specific part to play but the three core elements are:
- Developing a strategy that works for your business in your markets.
- Creating the operational excellence need to successfully execute your strategy, and
- Developing the leadership skills of the owner and key executives to align with your strategy and operational excellence.
Secondly, regarding Corporate Social Responsibility, the business ethics, principles and standards which guide the behaviour of your business, it sets the norms of behaviours by which people in the business abide by because they have some moral authority. Social Responsibility and Sustainability are underpinned by:
- Economic, social and environmental obligations to a range of stakeholders.
- Responsibility is not a target but a process whereby organisations manage, measure and report commitments to make a positive impact on society and the environment.
- It’s an attitude, a way of being.
- It informs decision making and actions.
Corporate Social Responsibility (CSR) includes:
- Environmental Sustainability
- Workers Rights
- Human Rights
- Legal Compliance
- Social Sustainability and Economic Viability
In this respect does you business comply? Want to know more contact MGBA.