Sustainability and Economic Development: Analyzing the Interconnectednessand ImpactModule 1Ans1:Sustainabilityimpliestheawarenessthatworldwideeconomicprogressisindistinguishablylinkedtoecologicalstability.Theunmaintainableeconomicactionsdestructivelyhampertheenvironment.Theenvironmentalunpredictabilityalsoharmfullyhampers theeconomic development.Thisconceptis complemented by thegrowingrealizationofthemarketwithrespectto sustainable practicesthat ultimately leads toabiggerstigmalinkedwith entities deemed ethically insensitive to environmental concerns.Ans 2:The above factors givebirthto a new sustainablebusiness or paradigm where themanagersponder and discusstheinstantpracticality of adecisionimplied. The three pillars mustbe part of the decision making process&this willgive rise to sustainability &promote greaterprofitability in the long term.For instance, business in the21stcenturyisexperiencedin amethodwhich is economically vibrant as well as ecologically soundðicallypraisedin theeyesof eachemployee. Theseabilitiesmatch the3pillars of the sustainable business paradigmof the Next Industrial Revolution.Ans 3:Economic development basically talks about the sustained actions ofthe business&communities thatencouragetheliving standards &theeconomic healthof business. Economicdevelopmentalso impliesthe quantitative and qualitativemodificationsin the economy.Ans 4: Customers participate in the sustainable business model.Raw materials and resourcescould be consumed at a much greater rate and for much cheaper than had ever been realizedPreview Mode
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