Science, for centuries, has been man’s most reliable companion. Science has helped with exploration, identification, and insight of some of the most mesmerising and seemingly untameable dimensions of reality.
Technology is man’s best wager. Technology has assisted humans in increasing the rate and effectiveness of scientific endeavours. It has helped make our lives come a step closer to the forefront of our imagination.
Sustainability is man’s best faith. Sustainability helps mankind identify and manage risks that are inevitable in nature due to casual links between natural and manmade systems, making this a planetary management of interlinked causalities.
Systems thinking is a holistic approach to analysis that focuses on the way that a system's constituent parts interrelate and how systems work over time and within the context of larger systems.
Thinking in Systems focuses on interdisciplinary study of systems wherein a system is a cohesive conglomeration of interrelated or inter-dependent parts that are either natural or manmade.
A system can be anything, a set of things, people, cells, molecules, or whatever interconnected in such a way that they produce their own pattern of behaviour over time. The system may be buffeted, constricted, triggered, or driven by outside forces. But the system's response to these forces is characteristic of itself, and that response is seldom simple in the real world.
With the example of Slinkies, this idea is easy enough to understand. When it comes to individuals, companies, cities, or economies, it can be heretical. The system, to a large extent, causes its own behaviour. An outside event may unleash that behaviour, but the same outside event applied to a different system is likely to produce a different result.Think for a moment about the implications of that idea:
Impact Assessment is a means of measuring the effectiveness of organisational activities and judging the significance of changes brought about by those activities. It is neither Art or Science, but both. Impact assessment is intimately linked to Mission, and, in that sense, ripples through the organisation. Being able to assess and articulate impact is a powerful means of communicating, internally and externally, the contribution of activities to the Mission of organization and policy.
Impact assessments are carried out to assess the consequences of individual projects or of policies and programmes.
Environmental Impact Assessment (EIA), Social Life Cycle Assessments (SLCA) and Economic Life Cycle Assessments (ELCA) are exmaples of applied impact assessments programs.
Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. IT security threats and data-related risks, and the risk management strategies to alleviate them, have become a top priority for digitized companies. As a result, a risk management plan increasingly includes companies processes for identifying and controlling threats to its digital assets, including proprietary corporate data, a customer's personally identifiable information and intellectual property.
Risk management occurs everywhere in the financial world. It occurs when an investor buys low-risk government bonds over riskier corporate bonds, when a fund manager hedges his currency exposure with currency derivatives, and when a bank performs a credit check on an individual before issuing a personal line of credit. Stockbrokers use financial instruments like options and futures, and money managers use strategies like portfolio and investment diversification to mitigate or effectively manage risk.
Inadequate risk management can result in severe consequences for companies, individuals, and for the economy. For example, the subprime mortgage meltdown in 2007 that helped trigger the Great Recession stemmed from poor risk-management decisions, such as lenders who extended mortgages to individuals with poor credit, investment firms who bought, packaged, and resold these mortgages, and funds that invested excessively in the repackaged, but still risky, mortgage-backed securities (MBS).
Global sources such as the energy crisis, recession and climatic catastrophes have resulted in the sustainability movement's growth in importance. With its origins from environmental management, the field of sustainability has emerged as a new business discipline - one that must find its way into the curriculum of business schools.
The position of the organisations in the context of the natural world has caused a new awareness of collective need for a sustainability emphasis. Sustainability is difficult to define since it is an evolving concept. Similar to other concepts like democracy and globalization, sustainability is one of the most "ubiquitous, contested and indispensable concepts of our time" (Tavanti, 2010).
In a very general sense, the term sustainability means to endure.
Hence, in ecology, sustainability pertains to "how biological systems remain diverse and productive over time" (Tavanti, 2010). For human beings, sustainability is about the "potential for long-term maintenance of well-being, which in turn depends on the maintenance of the natural odd and natural resources" (Bromley, 2008).
There are more than 500 definitions of sustainability, and most of these pertain to the specific discipline or field for example, sustainable community or sustainable design. Despite the varied definitions of sustainability, the concepts include these basic precepts:
In spite of all the progress made by corporations and organizations, one needs to be careful. A lot of companies are being criticized for greenwashing, a practice of appearing green without incorporating actual, measurable goals that lead toward sustainability.
Real sustainability is complicated and more positive in that it aims to have humans and other life nourish on the planet forever. Sustainability is gained when everything is working well with everything else. A primary reason why the environment can't be fixed easily is consumption. Even though companies have created programs to reduce waste they are continuing to feed the beast. Companies need to offer products and services that help consumers to restore and maintain their ability to care, flourish, and be aware. Sustainability will help stop the addiction by providing carefully designed products and services that lead people toward responsible choices.(Ehrenfeld, 2006).
Why Sustainable Strategy?
The increase in the price of fuel, concern over global warming, and increased consumer demand for environmentally friendly products are just some of the actors that have made sustainability a strategic focal point in industry after industry. All organizations, whether for- or not-for-profit, compete for customers, and increasing awareness has altered the competitive landscape. All one needs to do is compare the websites in any industry automobile manufacturing, hospitality, publishing, pharmaceutical, food products, even ice cream-and it is quite easy to see a growing emphasis on sustainability. As with any trend, there are the skeptics who are doubtful and resistant to the trend. Then, there are the early adopters who embrace the trend and incorporate it within their organizations. Sustainability is no different; it has its share of believers and skeptics. As this rend unfolds, we shall see organizations that will be skeptical and do as much of the minimum as possible. There will be other organizations that will not want to be perceived as laggards and will attempt to be more engaged. But there will also be the organizations that will truly walk the talk and will embrace the concept and incorporate it throughout the ranks.
Sustainability is important for a very simple, very straightforward reason:
we cannot maintain our quality of life as human beings, the diversity of life on Earth, or Earth’s ecosystems unless we embrace it. There are indications from all quarters and from the smallest to the largest scale that sustainability is something we must address. We will run out of fossil fuels. Thousands if not millions of animal species will become extinct. We will run out of lumber. We will damage the atmosphere beyond repair… If we don’t change.
And the root of that change lies in understanding and striving for sustainability—in our own homes, in our communities, in our ecosystems, and around the world.
Sustainability is a synonym for green. The term green usually suggests the preference of natural over artificial. However, in order to meet the needs of our population, there is a heavy reliance on technology.
Technology is nothing but the application of scientific knowledge for practical purposes, as a branch of knowledge dealing with engineering or applied sciences especially in businesses.
Over the years, technology has revolutionized our perspective of the world. Technology has created amazing tools and resources, putting each person’s most useful information at their fingertips.
Emerging technologies have the ability to be a positive impact on our society.
Technology benefits us on a day to day basis, and has been doing so for a considerable amount of time now. Whether we’re using our laptops, or texting on cellphones, our devices have become extensions of who we are. In a way, we couldn’t live without them. However, technology trends emphasize this importance to an even further extent. After all, they don’t just benefit us, but they’re extremely efficient for companies.
Following are a few reasons why these trends in technology are so important in the workplace.
Businesses Are Redefined:
While companies may benefit from the technologies they’re accustomed to, emerging technology completely redefines them, expanding the businesses in many ways. For example, it’s easy to imagine how some companies were before the days of Facebook and other social media sites. More than likely, communication was more direct, and many businesses had less of a “following”, so to speak. However, with the recent trends in technology, social media has helped companies to grow in popularity and gain more attention and traction.
Companies stand a chance to become more Successful:
Not only are businesses redefined, but these trends keep a business up to date in the latest tech. It’s competitive out there, and in order to compete in today’s business world, outdated technology isn’t an option. Even though every company is different, but in today’s age and time, it can be taken for granted that a company relying on and using updated technology will reap better benefits, while the others will quickly fall behind.
Businesses Know Their Limitations:
There are countless technology trends out there. Some work well, while others are better suited for different companies. Knowing the limits of one’s business can help assess what’s best for one’s firm.
Man has worked hard to improve technology consistently, to do various tasks, fast and effectively. Many nations have succeeded in building great infrastructure and achieve stupendous progress due to developing advanced technology before the other nations. Today, every nation strives to get the latest technology for the benefit of its citizens. Technological progress is vital in the fields of business, education, as well as health care.
Technology is important in today's world because it serves a variety of functions in many of the most important aspects of modern society, like education, communication, business and scientific progress. ... Very important, new ideas or products couldn't be made without technology such as tools or computers.
Examples of some of the most disruptive technologies of today :