Deepak and Amritpal Singh

Business sustainability is the management and coordination of environmental, social, and financial demands and concerns to ensure responsible, ethical and ongoing success. The first phase of it is market integration which is a model responds to market shifts to increase competition by integrating sustainability into the preexisting consideration. the new age corporations actively transformed into a new market in increasing sustainability. although crisis like climate change, water scarcity is increasing but by being sustainable we can slow down these. that’s why the business must transform it which is the focus of the next phase of business sustainability and that is called Market Transformation.

In this, companies create measures for tomorrow. Its first goal is decreasing unsustainability which focuses on inward healthy and vitality, helps the future leaders to get a job in today’s marketplace and it is incremental. the second goal is increasing sustainability which is transformational and focuses on health, vitality, and society. A business change is essential to address environmental degradation. business is responsible for the building we live in,the food we eat, automobiles we drive. that is why , business is in a position to bring the change we need at scale. Business sustainability has been in the mainstream. world noticed human impacts on the natural environment. one of the main reason of this is capitalism. Due to capitalism in business ,the world is facing issues like climate change, inequality, and political populism. In this, businesses only want to maximize the financial returns of the owners. this is the only objective. Capitalism brought severe costs like curtailed democracy, damage to the environment. Capitalism is malleable because of issues like monopoly power, collusion, and price-fixing so the sustainability isa must in this. To do this, the market transformation must be adopted in business world. Sustainable marketing is that uses products and services that respect the environment and social aspects around. It will improve life quality by promoting products, services , and ideas that don’t harm the environment. Market transformation works on the four concepts , approach to operations, partnership, government engagement and transparency. Market transformation calls for adequate supply chain logistics to reduce risks for various sectors like disruption in climate change. To better manage , companies are shifting from one time models to circular models where items are created , used , disposed and restored or reprocess. This model is called Resource Smart Solutions. the companies also seek noble partnerships to meet outside standard mode of shifting the market.

In many nations, companies collaborate with governments to operate a business which leads to market transformation. Like in India, businessmen like Mukesh Ambani, Ratan Tata operate their business with the assistance of the government and the government also seeks help from these businessmen to help society. Market transformation can be done in other ways too. These ways are connected with the need, business leaders know the huge damage caused to the environment. They should feel connected to these to become sustainable to take care of the planet. since the global financial crisis, trust in business has deteriorated. Business leaders need to regain the trust of society, their consumers, partner with the government, and then communicate the sustainable interaction with society and contribute positively to the community. Businessmen should set a long-term and holistic vision. sustainability is most important to keep customers happy. they should set targets that are well researched and achievable. Business leaders should be accountable and improve constantly. Political intervention in businesses to have sustainability is also needed. The businesses should get political to change the market, they should be involved in this to overcome the effects on climate.

It is concluded from the text that business sustainability is the foremost want of businesses to combat climatic issues. For this, the phase of market transformation completes the desired goal. The purpose and ways of doing business should be changed so that the consumers can have faith in them and there is no loss to consumers as well as climate. The market transformation will bring all those facilities which are going to change the aspect of businesses. All the businesses that are small or large can implement aspects of sustainability reporting into their organization to achieve improved operating results and minimize negative societal impacts and emphasize positive societal impacts.