Six Essential Characteristics

Tueth (2010) reiterates the ideas put forward by authors such as Paul Hawken (The Ecology of Commerce and Natural Capitalism), Bill McDonough and Michael Braungart (Cradle to Cradle: Remaking the Way We Make Things), and Janine Benyus (Biomimicry) when he proposes that a mature and authentic sustainable business contains six essential characteristics.

1. Triple top‐line (TTL) value production“The TTL establishes three simultaneous requirements of sustainable business activities – financial benefits for the company, natural world betterment, and social advantages for employees and members of the local community – with each of these three components recognized as equal in status.” Whereas many businesses use the triple bottom line, “triple top line” stresses the importance of initial design and is a term attributable to Braungart and McDonough (2002).
2. Biomimicry – nature‐based knowledge and technology“This biomimicry‐based principal involves the conscious emulation of natural‐world genius in terms of growing our food, harnessing our energy, constructing things, conducting business healing ourselves, processing information and designing our communities” (Benyus 1997).
3. Products of service to products of consumption“Products of service are durable goods routinely leased by the customer that are made of technical materials and are returned to the manufacturer and reprocessed into a new generation of products when they are worn out. (These products are mostly nontoxic to human and environmental health but toxic materials that are used will be kept within a closed loop type system and not be able to escape into the environment). Products of consumption are shorter lived items made only of biodegradable materials. They are broken down by the detritus organisms after the products lose their usefulness. (These are also nonhazardous to human or environmental health). This principal requires that we manufacture only these two types of products and necessitates the gradual but continual reductions of products of service and their replacement with products of consumption as technological advancements allow” (Braungart and McDonough 2002).
4. Solar, wind, geothermal and ocean energy“This principal advocates employing only sustainable energy technology – solar, wind, ocean and geothermal – that can meet our energy needs indefinitely without negative effects for life on earth.” Other authors have referred to this as utilizing current solar income (Hawken 1999).
5. Local‐based organizations and economies“This ingredient includes durable, beautiful and healthy communities with locally owned and operated businesses and locally managed nonprofit organizations, along with regional corporations and shareholders working together in a dense web of partnerships and collaborations” (Tueth 2010).
6. Continuous improvement process“Operational processes inside successful organizations include provisions for constant advancements and upgrade as the company does its business. The continuous process of monitoring, analyzing, redesigning and implementing is used to intensify TTL value production as conditions change and new opportunities emerge” (Tueth 2010).

Business sustainability also requires firms to adhere to the above referred principles of sustainable development (WCED 1987). So, for industrial development to be more sustainable, it must address important issues at the macro level, such as economic efficiency (innovation, prosperity, productivity), social equity (poverty, community, health, and wellness), human rights, and environmental accountability (climate change, land use, and biodiversity). There are number of best practices that foster business sustainability, and help organizations move along the path from laggards to leaders. These practices include the following:

• Stakeholder engagement: Organizations can learn from customers, employee, and their surroundings community. Engagement is not only spreading out messages, but understanding opposition, finding common ground, and involving stakeholders in joint decision‐making.
• Environmental management systems: These systems provide the structures and processes that help embed environmental efficiency into a firm’s culture and mitigate risks. The most widely recognized standard worldwide is ISO 14001, but numerous other industry‐specific and country‐specific standards exist.
• Reporting and disclosure: Measurement and control are at the heart of instituting sustainable practices. Not only can organizations collect and collate the information, they can also be entirely transparent with outsiders. The Global Reporting Initiative is one of many examples of well‐organized reporting standards.
• LCA: Those organizations wanting to take a large leap forward should systematically analyze the environmental and social impact of the products, processes, or activities or services they use and produce through LCA, which measure more accurately impacts (Das 2005d).