Topic > Managing Change - 1973

This assignment will discuss the Canadian business market's response to the power of sustainability. Sustainability includes both sustainable development and corporate sustainability. When sustainable development and corporate sustainability are valued in a company, the opinions of various stakeholders align, which can lead to financial success. In the past, sustainability was not valued, mainly due to 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 and more companies are moving towards a state of sustainability. There has been some adoption of sustainable development in Canada. Regulatory bodies and third-party assessors have implemented systems to promote a triple bottom line in companies. TELUS Corporation is an example of a company focused on sustainable development. Their vision, policies and practices all show the company's support for the community, the environment and shareholders. While there are still barriers to adopting sustainable practices, the market will naturally move towards a state of corporate sustainability through sustainable development. Task no. 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 involves directing an organization's efforts toward increasing the value given to customers relative to the value maintained in the organization. Globalization has led to the integration of markets and exposed companies to new risks, such as dust... half of the paper...). Conclusion It is clear 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 the company a long-term focus that supports future growth and profitability through sustainable development. The adoption of sustainable initiatives is varied across the market. While companies like TELUS Corporation may be labeled as supporting companies, others remain in a state of non-responsiveness or compliance due primarily to costs. However, as environmental and social awareness increases, the market will naturally progress towards a sustainable state.