Sustainability and Profit Making Essay

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Analysis of the Field

Sustainability is a concept that is receiving attention in numerous industries—from auto manufacturing to accounting (Bouten & Hoozee, 2015; Kwangeson, 2014). Companies like Tesla, Porsche, GM, Audi, Volkswagen and others are finding ways to become more sustainable by creating electric vehicles (EV) that consumers can buy in place of gas-powered cars to avoid polluting the earth. Sustainability concepts focus mainly on green energy and protecting the environment, but they also focus on managing waste more efficiently and promoting social goals and values that are important to communities. Lago, Kocak, Crnkovic and Penzenstadler (2015) examine the environmental dimension of software performance, for instance, and discuss how one of the main problems of “current software engineering practice with regard to sustainability is that the technical and economic dimensions are taken into account while the environmental and social dimensions are not” (p. 70). By focusing attention on how products and processes may impact the environment or society overall, companies and researchers are finding ways to bring sustainability concepts into the mission and vision of corporations.

Current issues and trends in the field of sustainability also focus on the dilemma of global warming, with many nations around the world creating public policy to regulate emissions, switch over the energy industry from coal-burning to green energy (solar, wind, etc.). The dilemma of food resources and food security, ending hunger and ensuring that there seed population is preserved in case of a disaster; and managing ecosystems (Anderies, 2014)—these are all aspects of sustainability that remain challenges for the modern world to address.

Research Topic

This research topic focuses on the need to develop corporate social responsibility (CSR) programs that promote sustainability. As Baumgartner (2014) notes, sustainable development is a major value for the world today: communities want to have companies that promote sustainability and consumers want to shop from companies that devote themselves to sustainable development. Companies like Patagonia, Eileen Fisher, Tesla, Kroger and others all have a sustainability program that is part of their CSR policy, which reflects the values of their communities.

Developing a sufficient CSR policy is important for a business to be successful in the 21st century as a new generation of consumers are entering the market and they have values relating to protecting the environment and promoting a sustainable future. In order to attract those consumers, companies need to reflect those same values in their corporate orientation. The development of a CSR policy that has sustainability as its core value is an opportunity for a company to engage consumers of the current and next generations and create appeal.

Dovleac (2015) shows that new communication technologies are vital for reaching out to the public and communicating a company’s sustainability policy. Tesla’s CEO Elon Musk is expert at using social media, for example, to promote his company’s sustainability vision, goals, and product development. Musk uses Twitter and Instagram to gain direct access to investors, consumers and others in the sustainable space: he posts links to articles that discuss current practices in green energy, solar power and so on. He highlights new achievements in his own company and gives updates on the future direction of the industry.

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Using social media the way Musk does could be a great way for a company to position itself in tomorrow’s market and develop a following and loyal consumer based dedicated to the brand.

Lubin and Etsy (2010) show that sustainability is today not just an option but an imperative: the reason is that consumers are aware of changes in their environment. They want to see corporations being more proactive and engaged on the environmental front. They want natural cleaners, natural foods; they want products that will not harm the environment and increase the likelihood of global warming. They are tired of corporations viewing consumers as puppets to be manipulated: they want to support corporations that are going to be accountable and transparent with them in their dealings. To succeed today, companies have to embrace sustainability, as this is…

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…important for companies to know how to balance sustainability and economic thriveability in ways that work for both policies: a company must be profitable just as it must be sustainable in the coming years. The different stakeholders involved will demand that it be so, and the potential impact on the overall field of sustainability if it is shown how sustainability and thriveability can be reconciled across the board could be tremendous.

Currently, the field of sustainability is suffering in terms of how CSR policies are shaped from disillusionment: not all stakeholders believe companies really are mindful of sustainability, and the policies they develop end up looking like mere lip service (Bouten & Hoozee, 2015). This is not good for the field overall field of sustainability, especially when considering that the field must grow in a way that makes sense for corporations to see sustainability as a viable pathway to profitability. The merger of sustainable practices and policies with economic ideas that will help a company to be profitable is very important in the coming years.

Likewise, being able to communicate to all stakeholders how a company will be both sustainable and profitable is important, too, and more research is required on how to use communication tools effectively (Dovleac, 2015). As Tesla’s CEO has shown, there is a fine balance that must be maintained when using social media: Musk has demonstrated an inability to restrain himself at times as he has walked the tightrope of trying to be sustainable while also trying to convince investors that his company can be profitable. It has not always been easy for the car manufacturing CEO, and the stock has taken several hits over the past year as Musk has attempted to communicate more than he could actually make possible. He over-promises and under-delivers often and even made the mistake of tweeting out that he had enough interest from private investors to take the company private when in reality he did not. CEOs have to learn how to be a good….....

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