Reference no: EM133505022

Sustainability refers to the practice of meeting present needs without compromising the ability of future generations to meet their own needs. It involves considering environmental, social, and economic factors to balance profitability, social responsibility, and environmental stewardship. Companies face fierce competition from new players entering the market daily. The key to success is not just becoming a leader in the field but maintaining that position for the long haul. To stay financially competitive, top executives continually adapt their strategies to stay ahead of the competition. One proven approach is to increase sustainability practices within the company from an operational perspective or how the product is manufactured. This can attract more consumers to their products or services, reducing threats from newer companies. Savvy leaders who can identify employees with specific expertise gain a competitive advantage that can last.

Discuss sustainability when designing organizations to achieve both efficiency and effectiveness. Why is it important to do correctly and how can it benefit a business. How would you apply this organizational design essential to a new company. Provide examples.