Case ID: R1110B     Solution ID: 31667

The Sustainable Economy Case Solution

Abstract

Sustainability can be said as one of the most promising route for every company in achieving a financially high performance, however reaching it can be a difficult task too. Businesses are rarely obliged to fully compensate the costs that are created by their operations around the world. Since such destructive contributions are hardly measurable or assignable to each firm, businesses do not feel the need to formally include these in their internal accounting system. In order words it could mean that consumers might be paying a rather cheap price for a product, completely oblivion to the harmful impact that it contributes to the society as a whole. How about reaching a stage where the low priced products were also the one that contributed least damage to the community? Interestingly, there are three trends that can be said as allowing for this goal to converge into a reality: 1) Today when companies consume the natural resources, these costs are formally priced and thus legally accounted in the books 2) Community Welfare Services have been reshaped and now maturely constructed that are increasing focusing on maximizing a positive change in the community. 3) Today companies are socially bounded to check their product’s sustainability through standard indices, thus aiming for improved value chains. Yvon Chouinar and Rick Ridgeway together with an experienced sustainability consultant Jib Ellison have attempted to voice their opinions over these emerging trends and how these are converging to create a new era, ensuring continued sustainability and survival. As per the authors, a progress initiated in one particular area will spur a domino effect, thus spreading it to other too, so much so that the company’s objective to align its goal with community welfare can become humanly possible too.


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