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10 Sustainability
Governance is a critical pillar for achieving social sustainability. Explain.
Identify governance models that have been successful in promoting social
sustainability.
10.6 Economic Sustainability
10.6.1 What Is Economic Sustainability?
The term sustainability involves three basic pillars that encompass a healthy
ecosystem, these are economic, social, and environmental activities or ways that
englobe a truly sustainable approach by remaining interdependent and holistic in
order to evolve towards a better and efficient economy. On a level that deals purely
with the economy, this has led businesses to reflect on the output of their industries.
The basic principle of economic sustainability refers to the capacity industries
hold in order to continue their activities or processes in an indefinitely way for
an indefinite period of time (Jänicke 2012). Communities play an important role
within the sustainability sphere because communities are formed by individuals
and those that consume the goods made by the industries. For example, people
from the western hemisphere tend to consume more than people from the eastern
hemisphere and sometimes the levels of consumption are so elevated that they
overpass the levels they can afford. Moreover, another significant phenomenon
occurs in developing countries, because even though the levels of consumption
are low (within the industries sector), the levels of growth in terms of population
are increasing high and fast, in sharp contrast to the western hemisphere, thus also
creating an unfair distribution of resources within their populations.
Therefore, economic sustainability has gained a relevant position in today’s
business talks because it is highly required to encourage responsible use of
resources. while keeping environmental concerns relatively low or non-existent.
By doing this, it creates a sense of belonging within the community, thus creating
locally investments to help industries maintain their businesses.
Why is economic sustainability of utmost significance?
10 Sustainability
Governance is a critical pillar for achieving social sustainability. Explain.
Identify governance models that have been successful in promoting social
sustainability.
10.6 Economic Sustainability
10.6.1 What Is Economic Sustainability?
The term sustainability involves three basic pillars that encompass a healthy
ecosystem, these are economic, social, and environmental activities or ways that
englobe a truly sustainable approach by remaining interdependent and holistic in
order to evolve towards a better and efficient economy. On a level that deals purely
with the economy, this has led businesses to reflect on the output of their industries.
The basic principle of economic sustainability refers to the capacity industries
hold in order to continue their activities or processes in an indefinitely way for
an indefinite period of time (Jänicke 2012). Communities play an important role
within the sustainability sphere because communities are formed by individuals
and those that consume the goods made by the industries. For example, people
from the western hemisphere tend to consume more than people from the eastern
hemisphere and sometimes the levels of consumption are so elevated that they
overpass the levels they can afford. Moreover, another significant phenomenon
occurs in developing countries, because even though the levels of consumption
are low (within the industries sector), the levels of growth in terms of population
are increasing high and fast, in sharp contrast to the western hemisphere, thus also
creating an unfair distribution of resources within their populations.
Therefore, economic sustainability has gained a relevant position in today’s
business talks because it is highly required to encourage responsible use of
resources. while keeping environmental concerns relatively low or non-existent.
By doing this, it creates a sense of belonging within the community, thus creating
locally investments to help industries maintain their businesses.
Why is economic sustainability of utmost significance?