Change Management Essay -- Sustainable Development, Corporate Sustaina

This assignment will discuss the response of the Canadian business market to the force of sustainability. Sustainability includes both sustainable development and corporate sustainability. When sustainable development and corporate sustainability are valued in a company, it aligns the views of various stakeholders, which can lead to financial success. In the past, sustainability was not valued, mainly because of a lack of knowledge and an aversion to the costs of sustainability reporting. However, with increased consumer awareness and the promotion of environmental and social value, more companies are moving towards a state of sustainability. In Canada there has been some adoption of sustainable development. Regulating bodies and third party evaluators have implemented systems to promote a triple bottom line in corporations. TELUS Corporation is an example of a company that is focused on sustainable development. Their vision, policies, and practices all display the company’s s upport for the community, the environment, and the shareholders. While there are still barriers to the adoption of sustainable practices, the market will naturally shift towards a state of corporate sustainability through sustainable development. Assignment #1 Introduction In the business world, there are four forces of change. These are innovation, customer focus, globalization, and sustainability. Innovation involves technological and non-technological advances that create new value for a company. Customer focus entails directing an organization’s efforts towards increasing the value given to customers as opposed to the value kept in the organization. Globalization has lead to integrated markets and has exposed businesses to new risks, such as pol... ...). Conclusion It is evident that sustainability is becoming a strong force in the business world. Environmental issues, such as greenhouse gas emissions, and corporate social responsibility are becoming increasingly important to internal and external stakeholders. Companies can no longer focus solely on financial measures, but must incorporate the triple bottom line into their performance metrics. This will give a company a long-term focus that supports future growth and profitability through sustainable development. Adoption of sustainable initiatives is varied in the market. While companies such as TELUS Corporation can be labeled as a sustaining corporation, others remain in a state of non-responsiveness or compliance due mainly to costs. However, as environmental and social awareness increases, the market will naturally progress towards a sustainable state.