Although it cannot be argued that till date many of the businesses have been rallying around the concept of profit with some of the latest and evolving concepts like globalization, networking, etc., the commitment and implementation of the best practices in the different industries no doubt have given way to a more unrealistic approach towards running the businesses.
It can also be observed that the fluctuating economies and large-scale downturns, etc. in turn adversely affecting the very sustainability of the human race on this globe has raised an alarm which is being taken seriously by all concerned. In fact there is an immediate need for implementing a more evolved strategic approach to business and consider the holistic environment for profitability. Though the present businesses do have a framework for conducting their businesses, incorporating other aspects to sustain and enhance their profitability to a higher extent needs to be looked at. Also, the trends and strategies that the businesses have adopted seem to be open ended and very much need to be improved for the benefit of the society. Bernstein expresses doubts of how responsible the concept of Corporate Social Responsibility (CSR) adopted by the businesses is as they need to be transparent, produce quality, and be ethical and socially responsible on the whole (2007).
Further, there is a need for continuous improvement in the strategies in all the industry sectors to ensure sustainable practices are constantly innovated and implemented and also cautiously discarding the inefficient and unethical practices that might have crept in over a period of time, thus affecting the strategy framework.