How can a business achieve sustainability? How can a business make profits out of enhancing others' sustainability efforts?

Question

What will be an ideal response?

Answer 1

Sustainable entrepreneurship is an approach to the operation of the firm, the line of business of the firm, or both, which identifies or creates and then exploits opportunities to make a profit in a manner that minimizes the depletion of natural resources, maximizes the use of recycled material, improves the environment, or any combination of these outcomes. Positive outcomes along these lines are described as "greener," so the approach is also sometimes called green entrepreneurship. Entrepreneurs can do quite a lot to manage their firm's impact on the environment. Recycling is one approach many businesses use. A great way to start thinking about minimizing waste and environmental degradation is to run thoughts about the business through a "green audit." Minimizing paper use, using telecommuting and electronic communication, replacing paper copies with web-based documents, buying products for the business made from recycled materials or products which can be recycled are all ways to create a more sustainable enterprise.
The business itself can focus on ways to enhance others' sustainability efforts, and make a profit doing it. Construction companies have found this area to be a new source of sales and profits, as new buildings are designed to be more energy efficient and recyclable, and older buildings get retrofitted for energy savings and healthier internal environments. Similarly, green retailing, selling products that have a better environmental footprint, is a growing segment.