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Sustainability 1 Business sustainability helps business to be resilient and adapt to change therefore sustainable firms are prepared for the future since they create long-term financial value and understand how actions influence natural environment thus the need to minimize the impacts.
Sustainability is the agenda of leading companies and it has gained recognition as a driver for strategic product as well as business innovation (Deloitte n.d, p.1). A business that considers the change as an opportunity and come up with innovative products as well as business models to thrive in a sustainable way have high likelihood of reaping advantage, be relevant to consumers, capture market share and operate efficiently in a quick transforming world. Firms face increased expectations from investors and consumers regarding their way of operations; therefore, companies are keen to be considered as accountable corporate citizens. It is expected in the future that consumers will place strong emphasis on convenience, price and quality in making decisions regarding their shopping. In the increasingly transparent world with high number of consumers digitally empowered since information on brands and products is regularly found on and discussed in blogs, forums and in social media sites. Companies that never respond to the development increase their likelihood of being in the spotlight for the wrong reasons since brands and businesses have little control over the internet (Berns et al 2009, pp.20-26). ...
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