Discover what sustainable management is and why it's an important concept for business leaders.
Sustainable management is, simply put, the joining of sustainability and management practices to create a balanced business model, benefitting current and future generations. In a time where sustainability takes precedence, greener management is more important than ever.
While many businesses integrate sustainability within their Corporate Social Responsibility (CSR), it’s important to recognise that their everyday practices must have social and environmental benefits.
What are the principles of sustainable management?
Sustainable development is built around three core pillars: economic growth, social equity, and environmental protection. To experience economic growth, a business must also take social equity and its effect on the environment into consideration.
And to be a sustainable organisation, practices must be ethical, conducted in such a way that they can continue long term without a major detrimental impact on society, the environment, and the dynamic global marketplace.
What are some examples of sustainable management in practice?
To become more sustainable, businesses are looking for new ways to improve their practice, including: The use of renewable energy resources such as solar, wind, thermal, and hydro
Green spaces within urban regions where both flora and fauna can thrive
Sustainable construction, using eco-friendly and recycled materials, and energy-efficient practices
Investment in public transportation, car sharing apps like UberPool, and the use of electric vehicles.
Why is it important for business and management professionals?
Whilst profits will always be at the forefront of most business professionals’ minds, there are added considerations. Is the business environmentally sustainable? Does it have longevity? Is it ethical? Will it benefit future generations?
In an ever-changing market, organisations need to adapt to survive. Sustainable management doesn’t just help businesses stay afloat but can lead to increasing profitability.
A study by Capgemini found that 52% of consumers feel an emotional connection with a sustainable product or organisation and 79% of consumers are changing purchase preferences based on the social or environmental impact of their purchases.
Corporate Social Responsibility has come under scrutiny too. A business can be an expert in manufacturing or employment, but if it isn’t minimising its impact on the environment and considering sustainability, it will not experience longevity.
What will I learn about sustainable management as part of an MSc?
The University of Central Lancashire (UCLan) offers a part-time online MSc in International Business and Management. Over two years, you’ll develop a better understanding of strategy, operations, and other vital practices involved in international business and management.
Modules are designed to provide a holistic overview of management and business practices, with a focus on sustainability.
As part of the Sustainable Management and Ethics module, you'll study the impact ethical and sustainable business practices have on businesses – as well as society – in a dynamic, global marketplace.
Address the challenges faced by multinational corporations with UCLan’s online MSc in International Business and Management. Choose from three start dates a year: