Why are sustainable management solutions needed in business?
Economic, social, and ecological goals – the synergy of these three goals is a prerequisite for the long-term and successful existence of the organization, implying the importance of sustainable management in modern business. The understanding that the economic growth of the organization is inseparable from the social responsibility towards its employees and the society and the obligation to conserve natural resources requires the organization not only to make a moral decision to follow the principles of sustainable management but also to make real financial investments in social and ecological projects. The dilemma “profit today” or “I invest today, profit tomorrow” does not require loud statements, but evidence based on facts and calculations that sustainable management is a “win-win” concept for all stakeholders – the organization, employees, customers, society, and the country.
Will we really attract and retain the best employees and what investments in people and organizational development make sense? Is an organic product superior, and is it worth promoting sustainable consumption? Do a socially responsible organization’s image and social initiatives provide an advantage over competitors? Can all organizations “afford” sustainable management and where to start? These are philosophical and at the same time very practical questions that require knowledge of specific research methods and methodologies and tools.
What are the benefits of sustainable management for business?
A motivated and efficient employee, a loyal and engaged consumer, a responsible and future-oriented society, and finally – a successful, modern, and long-term oriented organization. The ability to reconcile economic, social, and ecological goals and manage the tensions arising from the inherent contradictions of these goals presupposes sustainable management expert competence:
- Identify the expectations of stakeholders in the context of the components of sustainable management – economic, social, and ecological;
- Assess the readiness of the organization to implement the principles of sustainable management;
- Define the principles of sustainable human resource management;
- Define the concept of sustainable product development;
- Define the principles of customer relations and promotion of sustainable consumption;
- Form the image of the organization’s social responsibility;
- Assess the validity of sustainable management in the long term and the challenges in the short term.