Discuss the Evolution of Sustainable Business Development Practices

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Discuss the Evolution of Sustainable Business Development Practices

        What is sustainable development? That is the first question that needs to be answered and it was well answered in 1987 by the Bruntland Commission,

        "development that meets the needs of present generations without compromising the ability of future generations to meet their own needs."

                Hanley N, Shoegren J, White B, (2001) Introduction to Environmental Economics

        The one thing which is surprising about this definition is that it doesn't mention the environment at all. Sustainable development isn't just about keeping the environment safe and ensuring mankind's continued survival its about continuing to improve the standard of living in the whole world and making sure the future will be better than the present day. The problem is here now and the world has realised that something has to be done to preserve mankind. If the world continued to use its resources at the rate is is doing then there will be none left in a hundred years time. One of the biggest problems is making companies go sustainable because they don't want to lose money or fall behind other companies. In recent times it has become clear that going sustainable can be profitable over the long term.

        "the perception that sustainability is expensive to implement which experts say can be the case if life-cycle cost and sustainable elements are not factored and designed into projects early on. Yet, with businesses seeking to make sustainability part of their corporate philosophies, developers and owners, looking for effective marketing strategies, are turning to sustainable design to increase sales and pump up rent."

        Flynn L, (2001, vol. 42, issue 4, p26) Sustainability takes root

        It is clear that consumers today are more inclined to buy an environmentally friendly product over one that isn't. If a company plans ahead they can get an advantage in this newly appearing market. However sustainable development policies have to be more aware of the changing Earth than other policies. Sustainable development isn't the same for every country in fact the Brundtland Commission said that every country would have to come up with its own approach. This is why there is different approaches over the world each placing more emphasis on different policies. Sometimes these conflict mainly with developing and developed countries. There has been many commissions and meetings but it is only now that the world is starting to see how it has to act and how acting could help them in the long-term not just environmentally but also financially.

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        One of the first instances of sustainable development was in 1798 when Thomas Malthus realised that the Earth could only hold a certain amount of people with a good standard of life. However nothing was really done at the time. the first major meeting of people to talk about the problem came in 1972 at the Stockholm Conference. The meeting didn't actually use the words Sustainable Development but was about the main issues which later became part of Sustainable Development. This meeting was more concerned about pure environmental protection than sustainable development. The important thing about this conference was ...

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