Sustainability is meeting current needs without affecting the ability of future generations to meet their needs. There are three main pillars: environment, economy, and society which businesses are incorporating into their business practices now. Businesses are making a positive impact environmentally and socially all while making a profit which is needed to maintain sustainability.
Consumers play a significant role in the business climate and can affect the success of a business. If consumers base their purchases on their own moral and ethical standards, then they would buy from businesses that align with those standards. Harvard business school compiled multiple research statistics about the rising trend of Corporate Social Responsibility and found that consumers are more likely to buy from companies that have a defined social purpose, and 76% of consumers will refuse to support businesses if the company goes against their own moral or ethical beliefs. Without the support of consumers and the community that companies claim to be there for, consumer retention and satisfaction will diminish.
