The reason to speak of “managing diversity” is the need to make these differences among people into an asset rather than a liability for the organization. By managing diversity, companies have much to gain competitive advantage, diverse customer pool, increased creativity and innovation, improved corporate image, greater organizational effectiveness and high profitability.
The proposed Sustainable Development Goal 17, which reads “Strengthen the means of implementation and revitalize the global partnership for sustainable development”, recognizes multi-stakeholder partnerships as important vehicles for mobilizing and sharing knowledge, expertise, technologies and financial resources to support the achievement of the sustainable development goals in all countries, particularly developing countries.
Collective action of women’s rights groups, political parties, trade unions, state-sponsored mass organizations and civil society groups have a direct hand in shaping advocating policies, designing interventions and implementing programs and thus strengthening the situation of women in the economy in the form of employment and/or entrepreneurship.
Due to the fundamental transformation in conventional geopolitical equation, globalization and cultural imperialism, many new practical issues arose out of the international context of business. And so, commerce has become more complicated and dynamic while organizations realized they needed more guidance to ensure their dealings supported the common good and did not harm others.
Wal-Mart has redirected more than 64 percent of the waste generated by stores and Sam’s Club facilities. In 2009 alone, they recycled more than 1.3 million pounds of aluminium, 120 million pounds of plastics, 11.6 million pounds of mixed paper and 4.6 billion pounds of cardboard. Annually, they expect to save around $20 million and prevent 38 million pounds of waste being sent to landfills.
Sustainable business practices can increase revenue, reduce energy expenses, reduce waste expenses, reduce materials and water expenses, increase employee productivity, reduce hiring and attrition expenses, attract talent, reduce strategic and operational risks and generate tax breaks.