Rethinking sustainability in business

THE onset of catastrophic events has always kept the world at a standstill at one point or another. This was particularly the case when the dreadful coronavirus disease 2019 (Covid-19) pandemic hit. Economic growth slowed while companies grappled with the underlying financial impacts of this event. When the health crisis wreaked havoc, it left businesses rethinking their operational and leadership strategies. Amid all the repercussions of the pandemic and other catastrophic worldwide events, a new concept is gradually becoming the new business reality - sustainability.

We have often heard of the buzz phrase sustainable business practice. It is not a new concept and has formed part of business strategies for several years now. The United States Environmental Protection Agency defined sustainability as a social duty and moral responsibility of corporations to preserve environmental conditions for future generations.