Business owners have a clear incentive to only use practices that take into consideration long term consequences is not one of the reasons why it is difficult to determine whether a business practice is sustainable or not.
What are Sustainable business?
When it comes to business, sustainability is operating without having an adverse effect on the environment, the community, or society at large.
There are two primary topics that sustainability in business often addresses:
- A sustainable business plan seeks to have a beneficial effect in at least one of those areas. When businesses shirk their responsibilities, the converse might occur, resulting in problems like social injustice, inequality, and environmental deterioration.
- When making decisions, sustainable enterprises take a variety of economic, social, and environmental concerns into account. These companies keep an eye on the effects of their actions to make sure that short-term gains don't become long-term obligations.
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