Strategic Management

and Sustainability

ROLE OF THE PRIVATE SECTOR TOWARD ACHIEVING

THE SUSTAINABLE DEVELOPMENT GOAL

Name: Mehwish Mujahid

Banner ID: B00402109

Table of Contents
Introduction......................................................................................................................................3
Discussion........................................................................................................................................3
Current practice............................................................................................................................4
Challenges....................................................................................................................................6
Opportunities................................................................................................................................7
Conclusion.......................................................................................................................................7
Recommendation.............................................................................................................................8
References........................................................................................................................................9

Introduction

The world is changing fast toward development; this has direct impacts on social, economical
and environmental aspects of the civilization. Many organizations have been established in order
to maintain balance with the socially and economically growing world. People are utilizing the

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innovations to move a step forward from the rest of the world. In order to increase commercial
wealth, progressiveness and productiveness are the sectors being focused. In this competitive
market the man made and environmental resources are being involved in a large scale. The
environment has been proven to be a reliable resource of necessary materials used in developing
a civilization. However, sometimes the environment has to suffer from civilisation development.
The industrial and organizational growth sometimes affects the minor economies as well as the
environment. Nowadays the natural calamities and minor necessity of people are not being taken
care of while considering the major economy toward development. This factor has a direct
negative impact on the overall welfare of civilization. In this discussion the factors which could
be standardized by private organizations and minor industries will be discussed to globalize the
development in all sectors.

Discussion

In order to develop industries, people face various issues such as effects of the changing
climates, reduced supply of food and water, inequality and conflict in people. These aspects
influence the organizational ups and downs. Due to global warming the frequent changes in
climate is being occurred, which might be reasons for organizational fall of many industries.
Many organisations are unable to adapt to the changes in climate which causes low production
and profitability of the organisations. The supply of food and water is being decreased and
unable to fulfil the needs of most of the people of the civilisation. Inequality in the workplace or
organisation causes conflict which harms the smoothness of the work procedure. In order to fix
these issues every individual and organisation should take a step toward the remedies (Sinha et
al., 2020). The private sectors have the opportunity to reduce the negative impacts of social and
global calamities by introducing innovation in the growing market of business. Integrity and
value has a vital role to play toward sustainable development goals (Pradhan et al., 2017).

Current practice

In order to achieve the sustainable development goal an organisation should imply some
transformational changes of investment and responsible business. Companies and their

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stakeholders should make some initiation toward the action plans and tools to establish the SDG
of sustainable development goal (SDG, 2018). For globalisation of SDG, the process has been
determined in 17 plans (Ntona and Morgera, 2018). These 17 SDGs have been found to be
effective toward standardizing the global industrial environment. The 17 SDGs could be
mentioned as
No poverty: Poverty eradication should be supported by the businesses. Human rights, resources
and principals must be taken care of by all organisations. In order to engage the human resource
the organisation should encourage equality to prevent the conflict.
Zero hunger: By promoting sustainable agriculture, food security and improvement in nutrition
should be achieved by the private industries. Industrial growth should not only be the sector of
business to look after, social prosperity and the economical effects of the industry should be
visible to the surrounding environment.
Good health and well being: Ensuring the health of people as well as women and children will
promote overall well being. In order to build a healthy and stable organisation, industries must
look after the man power working for the organisation (Shahbaz et al., 2021).
Quality education: Promoting lifelong learning opportunities for all will ensure the equitable
quality education. This will open up the opportunities to imply innovation by proper education.
The contribution of the industry towards education should be visible and effective. RMIT
University led to the sustainable establishment of the organisation in this way.
Gender equality: By empowering the women as well as men the gender equality should be
achieved in all sectors of an organisation. The biases should be overlooked in case of
organisational positioning and development. This will make the policies of industry more
transparent.
Clean water and sanitation: Business should support sustainable management of water and
sanitation in order to ensure the availability. The water crisis is visible in many countries across
the world, reducing wastages and preserving water would be a great initiation toward the
industry as well as the environmental welfare.
Affordable and clean energy: An organisation should ensure the access of modern affordable
and reliable energy sources. The supply of energy should be constant and less finance consuming
compared with the alternatives.

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Decent work and economic growth: A business should ensure full and productive employment
in order to achieve the sustained and inclusive economic growth. In order to build the
organization's industrial reputation this aspect should be taken care of by the authority. Conflict
in the workplace should not be an issue toward organisational development.
Industry innovation and infrastructure: An organisation should establish flexible
infrastructure to ensure the sustainable industrialisation. Besides the technical sector the
organisation should take care of commercial innovation. CERN has launched a technology
impact fund in order to improve the infrastructure of the company. This will also help in
improving technical efficiency.
Reduced inequalities: The inequality among the people of different regions and countries
should be reduced in order to integrate the human resource toward industrial standardisation
(MacFeely, 2019.). In order to prevent the conflict between regions and races the equality should
be established with the aim of organizational and global peace.
Sustainable cities and communities: An organisation's duty is to secure the human settlements
in safe and sustainable infrastructure. The industries should look after the accommodation of the
employees in order to simplify the lifestyle of the related entities and build productivity toward
duty.
Responsible consumption and production: The balance between consumption and production
of natural resources must be taken care of by the organisation. The resources are limited
compared to the production needs. The limitations should be taken care of by the fast growing
company (Caprotti et al., 2017).
Climate action: In order to combat the frequent changes in climate an industry should be ready
to face impacts. Preventing natural calamities are next to impossible; the precautions must be
taken by the organisations to face losses. What could be the future remedies that should be
invented by the experts of the particular sector.
Life below water: Conservation of seas, ocean and marine resources, is another aspect to look
after by the industrial organisations. The resources of underwater should be identified and
utilized to open up innovative approaches.
Life on land: An organisation should be aware of the surrounding ecosystem. In order to combat
the decertification, reverse land degradation and halt biodiversity loss the industries should
preserve, protect, promote and restore the terrestrial ecosystem (Sayer et al, 2019).

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Peace and justice strong institutions: Promoting peaceful and inclusive societies by providing
access to justice systems and institutions should be another goal of an organisation toward
establishing sustainability. The industrial organisation must be loyal to the institutions. While
managing knowledge and information the reliability of data should be established.
Partnership for the goals: Strengthening the mediums of implementation and revitalizing
global partnership will be progress toward sustainable development of an organisation.

Challenges

In the way of economical and organizational development of the civilization a few political and
economical aspects are being obstacles.SDG is a nice approach toward resolving the industrial
issues globally. The practices are being accepted by various industries such as construction,
manufacture, supply chain, finance, agriculture and industry 4.0 worldwide. However,
implementing the sustainable development goals is far tougher than planning the actions. While
applying SDG In many industrial sectors few challenges have been observed. Various systematic
barriers have been observed and identified among the participants. The factors could be
mentioned as lack of political will, availability and reliability of data, weak technical capacity
and inadequate mechanism. While globalizing SDGs the lack in political will is visible. In the
localization of SDG the local authorities play a vital role. Due to the lack of financing various
local governments are facing challenges in many aspects of SDG. Civil society is engaging
actively to monitor the obstacles in the way to establishment of SDG. The data availability and
reliability is in observation of the participant industries. The overall data analysis observed lack
in validity by diverse aspects. The information should be transparent among the participants of
SDG initiation. In order to imply sustainable development goals the inefficiency in the
technological sector is creating huge fuss. To achieve all the aspects of SDG a huge technical
support is required not only for managing the data and the information but also for the
implementation of the practicable. While initiating SDG in the private industrial organizations,
the mechanism should be taken care of, as the proper implementation is required to fulfill the
objectives. A sustainable mechanism to look after all the aspects should be improvised for
globalization of sustainable development goals (Corbett and Mellouli, 2017).

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Opportunities

The initiative of sustainable development goals is an enabler of exchange on innovation. Global

goals enable market opportunities; an estimate of US$12 trillion has been calculated in four
economic systems such as food and agriculture, cities, energy and material and health and
wellbeing. These aspects represent sixty percent of the real economy also critical to deliver
sustainable development goals. SDG provides the stakeholders and the industrial organisation
with specific tools required to support their contribution toward industrial sustainability. In
achieving SDG comprehensive modular training is being provided by the UN to support the
participation of the industries. The long term organisational goal is the main point of focus of
SDG (Avendano et al,. 2021). In order to achieve the economical and environmental goals SDG
initiations are innovation in the organisational society. Matchmaking service for investors with
the local entrepreneurs is being initiated. SDG is enabling investment and enterprises in order to
promote the development of the implementation plan. The institutional investors, philanthropic
foundations, academia, consulting firms are being included in the participants of SDG.
Marketing intelligence reports are being data driven to be trustworthy to the investors and the
stakeholders. SDG impact seals and certifications are being developed. In order to maintain the
sustainability of the industries and the environment SDG is planned to create a huge innovation.
In maintaining the balance between the industrial growth and the other economic and social
aspects SDG has focused on the practicable (Leal et al., 2018.).

Conclusion

The business environment is evolving with the initiation of SDG. The objectives to establish
sustainable business organization as well as the environment and the practicable of sustainable
development goals contribute a large will. Environmental impact on the industrial organisation
plays a great role; it could be a negative impact also. The misuses and wastage of natural
resources could be harmful to the future organisation as well as the human race. In order to
secure the future opportunities the modern organisations should take initiatives like SDG.
Globalization of SDG could reform the cultural and economical society in many aspects. The
inequality and conflicts are being removed in the initiation of sustainable development goals. To

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standardize the balance of industrial growth and the environmental stability SDG plays a vital
role. The overall impact of SDG would be a revolution to industrial organizations in future.
Recommendation
Being a great initiation the practicable of SDG must be accepted by the private industrial
organizations. In order to achieve sustainability in the commercial sector and balance in the
environment the practicable should be implemented by maximum private organisations. This not
only helps to grow the company towards prosperity but also will help to keep the social values.
Human rights and equality will also be taken care of by the SDG initiation. Developing a
business plan is not only about the profitability but also to balance with the socio-economic
factors which could affect the business environment in future. In order to run the business
sustainably, the relative factors also should be looked after. Implementing SDG could be
beneficial for the business industry as well as the environment in many aspects.
References
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N. and Joss, S., 2017. The New Urban Agenda: key opportunities and challenges for policy and
practice. Urban research & practice, 10(3), pp.367-378.
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MacFeely, S., 2019. The Big (data) Bang: opportunities and challenges for compiling SDG
indicators. Global Policy, 10, pp.121-133.
Ntona, M. and Morgera, E., 2018. Connecting SDG 14 with the other Sustainable Development
Goals through marine spatial planning. Marine Policy, 93, pp.214-222.

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Pradhan, P., Costa, L., Rybski, D., Lucht, W. and Kropp, J.P., 2017. A systematic study of
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