In general, sustainable development is a development that meets the need of the present without compromising the ability of the future generation to meet their own needs.
In business, it is almost the same, because it means adopting business strategies that meet the need of the enterprise and the stakeholders.
Today, and while protecting, sustaining, enhancing the human and the natural resources, sustainable development is aiming at creating balance and interaction between
Social equity: which refers to issues such as Human rights, peace, security, gender equality
And so on. It is also referred to as (People)
Environmental Protection: which refers to the natural environment including water, energy, agriculture, diversity. It is also referred to as (Planet)
Economic development: which refers to an understanding of the limits and potential of economic Growth and includes issues such as poverty reduction, responsible consumption.
It is also referred to as (Profit). What social, Environmental, and economic issues together are these two things:
Governance: Which acts as an overarching principle that provides the context for sustainable development to occur by promoting structures at the local, national, international level.
Culture: including our shared attitudes, values ,goals and practices, provides the framework for sustainability as it guides and shapes our day to day behavior .
So What does Sustainability mean to Business? That's to be answered in the next article !
Source: The sustainable MBA, a business Guide to Sustainability