OVERVIEW:Sustainable development has three broad goals: environmental stewardship, social responsibility and economic prosperity, for both the organization and its stakeholders. In a successful sustainability-focused business strategy, these three goals will be inter-related and supportive of each other. Developing such a strategy requires careful study and analysis to fully understand sustainability-related opportunities and threats. Bat-telle's consulting work with the cement industry, the State of Arizona and others, shows how innovation is a key element of sustainability-focused business strategy. Furthermore, such business strategies must be customized to meet an organization's core competencies, financial situation, skills, resources, and the sustainability challenges it faces.
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Placet et al. (2005) studied this question.
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