Sustainability in the Nigerian Business Environment

The business environment in Nigeria has for so long been fixated in generating profit and satisfying stakeholders by all means. It is built on a hard core capitalist philosophy thus many companies are driven by numbers and financially rewarding investments made overtime.

Business sustainability is about the management of the triple bottom line (people, profit and planet) which involves the careful administration of financial, social and environmental risks and opportunities. Organizations need to have discussions on imbibing sustainability plans into their businesses. Also, managers should make allowance for building a corporate sustainability structure into the organizations they run.

Incorporating business sustainability into the Nigerian Business Environment means that there should be a contemplation of social issues which includes social justice, customers and ethical behavior, environmental issues which includes renewable energy, pollution and emissions, and economic issues which includes ROI and business agility.

The path to sustainability for organizations is a gradual process that needs in-depth studying and understanding by the managers charged to oversee an organization. They have to understand how best an organization can be positioned to create value that will contribute to the growth of corporate social responsibility and sustainability practices.

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