Sustainability is defined as a company’s ability to achieve business goals and to increase long-term shareholder value by integrating economic, environmental, and social opportunities into their business strategies. Other definitions include sustainability being the management and coordination of environmental, social and financial demands and concerns to ensure responsible, ethical and ongoing success. Simply put, it is the process of using things in a way that will ensure long term success.
Both companies, General Motors and Volkswagen Group practice sustainability. When it comes to their field, which is automotive manufacturing, sustainability will include reduced carbon emissions in their vehicles, using resources as sparingly as possible and more. These companies promise to …show more content…
They emphasize on how the company believes that sustainability goals are best achieved when integrated into its business model.
The report from General motors splits its sustainability progress into four sections: Design, Build, Sell, and Reinvest. In the design section, the company works on leading in the research and development of advanced technologies to help reduce petroleum dependency. They also plan to improve fuel economy and reduce emissions. When it comes to Build, they plan to increase the benefits of operating facilities in an environmentally and socially responsible manner. They wish to offer sustainable vehicle choices around the world, when it comes to Sell, and when it comes to Reinvest, they intend to ensure the company’s viability, be an attractive employer, and to improve the quality of life in its communities.
General Motor’s work has spanned across various stakeholders, such as achieving new fuel economy standards in the United States with policymakers. They also push the envelope in electric vehicle development with the help of LG in South