By Tima Bansal on nbs.net
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Business sustainability is an approach to creating long-term value by taking into consideration how a given organization operates. It is based on the United Nations' definition of sustainable development, which emphasizes meeting the needs of present generations without compromising the needs of future generations. Business sustainability involves reducing natural resource extraction and waste generation, as well as collaborating with other organizations to create a circular economy. It also requires considering the needs of stakeholders beyond shareholders, such as employees and customers, and working with other parts of society. Examples of business sustainability include considering indigenous worldviews in phone service, building a circular food economy, and asking the right questions. Business sustainability is important because it can help companies attract and retain employees, build more resilient supply chains, and build a more loyal customer base.