Running head: SUSTAINABILITY, GREEN TECHNOLOGY AND INFOSTRUCTURE Sustainability, Green Technology and Infostructure Name: Institution: 1 SUSTAINABILITY, GREEN TECHNOLOGY AND INFOSTRUCTURE 2 1. Explain why sustainability is important in the context of business. Sustainability is important in the context of business for a business long-term prosperity. Sustainable practices make a company more marketable, attract more clients, boost its brand image, and improves sales as well as financial performance. Furthermore, sustainability includes activities that will protect a business into the future. Sustainable practices whether environmental, social or economic boosts a business’ long-term profitability. Moreover, cultivating sustainable practices helps companies become more competitive and efficient. Besides, demonstrating sustainability in business strategies attracts positive publicity as well as the best business partners in the market. Business sustainability positively impacts the society a business operates in and this is through environmental sustainability practices that improve the society’s overall wellbeing. Also, sustainability is important in the business context because it gives the relevant organization a competitive advantage in the market. Therefore, sustainability is a win-win situation for both the company and the community it serves. 2. Briefly discuss some of the ways that green technology and infostructure (internet of things, big data, security, analytics and control systems in manufacturing, etc.) can be used to make a business (any business) more sustainable and create competitive advantage. Give two or three specific examples. Green technology and infostructure can be used to reduce energy-related costs. Energy efficient machinery and equipment such as environmentally friendly control systems in manufacturing companies significantly reduce utility bills. The profitability of such initiatives are long-term and not short term because it is expensive to develop green technology and infostructure. However, with the positive publicity associated with such initiatives, cultivating green technology and infostructure helps companies become more competitive, sustainable and SUSTAINABILITY, GREEN TECHNOLOGY AND INFOSTRUCTURE 3 efficient. Besides, green technology and infostructure can be used for waste management. The waste management strategies that come with the green technology and infostructure include waste recycling and reusing, particularly in manufacturing industries. This approach guarantees the future and present generations a clean environment. Therefore, applying green technology and infostructure in business strategies attracts positive publicity and also boost a company’s brand image, sales as well as its financial performance, giving them a competitive advantage. 3. Developing sustainable products or practices is often expensive. So, is sustainability a tradeoff for profitability? In other words, does a company have to choose between becoming more sustainable vs. becoming more profitable? Explain. Sustainability is a tradeoff for profitability only during the initial stages of developing sustainable products or practices. This is because sustainability comes with a long-term benefit which is realized due to positive publicity from the environmentally conscious consumers. Sustainable products or practices boost a company’s brand image, sales as well as its financial performance, giving them a competitive advantage and in the long run indirect profits. Therefore, sustainability is a long-term investment whose benefits are for a company’s future wellbeing. Developing sustainable products or practices whether environmental, social or economic boosts a business’ long-term profitability. Hence a company doesn’t have to choose between becoming more sustainable vs. becoming more profitable. The two complement each other just that sustainable products or practices have a long-term profit. SUSTAINABILITY, GREEN TECHNOLOGY AND INFOSTRUCTURE 4 4. What can you do right now to reduce energy consumption in your own residence and/or reduce your own carbon footprint? Explain and give one or two specific examples. Firstly, I will insulate my house properly to reduce energy loss. This will involve making sure that I have closed all the windows properly and sealed any drafty area. Besides, I need to have a professional to insulate my home in case of problems that I can’t fix on my own. Secondly, I should use the compact fluorescent light bulbs instead of the incandescent light bulbs. The compact fluorescent light bulbs use nearly 75% less energy compared to the incandescent light bulbs. Though a bit costly, LED bulbs are better energy-saving alternative. In fact, they last longer than both the compact fluorescent light bulbs and the incandescent light bulbs. Finally, I can reduce energy consumption by unplugging appliances and electronics such as the TV and fridge when not in use. A power strip is an alternative to unplugging the appliances and electronics, this is because it can be can be switched off. However, in my case, since I don’t have a power strip at the moment, I will unplug all the appliances that are not in use. SUSTAINABILITY, GREEN TECHNOLOGY AND INFOSTRUCTURE 5 References Aithal, P. S., & Jeevan, P. (2016). How Service Industries can Transform themselves into Green Business Industries. BusinessWeek. (2010) Cisco: Giving Back Is “Good Business” | BloombergBusinessweek. Retrieved from: http://www.businessweek.com/stories/2005-08-10/cisco-giving-back-isgood-business Enright, R. (2013). Why is Sustainability Important for Business? Retrieved from https://www.co2australia.com.au/why-is-sustainability-important-for-business/ Geneco. Retrieved from https://www.geneco.sg/reduce-carbon-footprint/ GREGOR, M. Future State4 Reasons Sustainability is Critical to Your Business Success - Future State. Retrieved from https://futurestate.com/4-reasons-sustainability-is-critical-to-yourbusiness-success/ Hill-Landolt, J. (2013). Sustainability And Profits. Retrieved from https://www.sustainablebusinesstoolkit.com/sustainability-profits/ Ku, L.The Importance of Corporate Sustainability. Retrieved from https://www.plugandplaytechcenter.com/resources/corporate-sustainability/ Lagas B. (2015). Five Benefits of Embracing Sustainability and Green Manufacturing. Retrieved from https://www.nist.gov/blogs/manufacturing-innovation-blog/five-benefitsembracing-sustainability-and-green-manufacturing SUSTAINABILITY, GREEN TECHNOLOGY AND INFOSTRUCTURE 6 Posner, M. (2014). Why It Pays for Businesses to Boost Sustainability Retrieved from https://www.ge.com/reports/post/96692402429/why-it-pays-for-businesses-to-boostsustainability/ RELANDER, B. (2018). Green Technology: a Solid Investment Choice?. Retrieved from https://www.investopedia.com/articles/investing/040915/investing-green-technologythefuture-now.asp Singh, R., & Kumar, S. (2017). Green Technologies and Environmental Sustainability. Springer. Sustainability. Retrieved from https://wmich.edu/sustainability