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Can companies adapt to sustainability in the age of disruption?

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“Specifically, we argue that, during times of economic constraint, firms a) engage in sustainability “trimming” to adapt to their new economic setting; b) use trimming to compete more effectively; and c) trim in ways that are path-dependent, building upon prior complementary capabilities and resources.” Barnett, M., Darnall, N., & Husted, B. (2015). Sustainability Strategy in Constrained Economic Times

In the age of disruption, sustainability is more relevant for companies to find success in their domain and in the future. In modern times, companies are not just responsible for making profits but are also concerned about climate change, the depletion of natural resources, and other environmental hazards.

Companies need to be attentive to their sustainable practices in various operations, such as sourcing materials, manufacturing, and distribution.

But sustainability is not limited to handling the environmental impact but is more focused on a more equitable society where workers are treated fairly and communities are not exploited by profit-making businesses. Companies need to be adaptable to sustainability so that they don’t fall behind.

Even governments are taking necessary measures for companies to follow and not get let down by legal and reputational challenges.

In the age of disruption, Sustainability is seen as a critical and dynamic challenge for businesses. Companies need to rethink their approaches to maintaining their societal and economic positions while maintaining their top positions.

We are living in the “age of disruption” with new technological advancements as well as concerned societal norms.

Sustainability also means mitigating any negative effects encountered by society by focusing on a more resilient and equitable future.

The key aspects of sustainability in the age of disruptions are Climate change and Mitigation, resource efficiency, Technological innovation, social equity, resilience and adaptability, public-private collaboration, consumer awareness, regulation, and policy, education and awareness, and a long-term perspective.

The following ways sustainability is acting in the age of disruptions are:

  • Sustainability strategy: A well-crafted plan for the business needs to be developed to promote sustainability that is aligned with the company’s long-term goals and integrated into all aspects of the business.
  • New sustainable products and solutions: Companies need to be considered for new sustainable products and solutions to meet the needs of consumers and investors.
  • Emerging technologies: Businesses need to be considered, and emerging technologies need to be assessed for managing disruption through the lens of environmental sustainability.
  • Digital revolution: Companies need to be well equipped with digital revolutionary games to embrace new technologies.

The scenario supports technologies to reduce waste, improve energy efficiency, and promote circularity.

In my opinion, AI is revamping the way industries used to work, providing more new opportunities and doors to handle for employees. As we see, the trend of disruption is an ongoing process, but sustainability principles and policies can guard against mishaps and guide companies to swim smoothly in tough zones.

Sources:- Deloitte, EY parthenon, Logistics Viewpoints, disruptdesign, weforum

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