Strategists have always talked about sustainable competitive advantage, but we face a growing realization that firms are vulnerable to predictable changes in their physical and social environment. Sustainable business goes beyond maximizing today’s profits, and looks toward maximizing profits over the life of the firm (which hopefully is infinite!).
While some sustainable practices are explicitly environmental, many are not. Sustainable businesses are also concerned with the training and availability of their future workforces, the sustainability of their customer base, and the robustness of their sourcing arrangements or inputs. Thus sustainable businesses invest in education, work to improve the health of their customers, and examine the business practices of their partners. Continue reading ‘The Future of Business is Sustainable.’