Sustainability

Table of Contents

Concept of Sustainability2

Importance of Sustainability2

Sustainability as a Trend3

Concept of Sustainability in Construction Industry3

Value of Sustainability in Construction Industry4

References6

Appendix7

Sustainability

Concept of Sustainability

The concept of sustainability has a number of connected meanings that refer to the concept of future, such as sustaining something into the future. Another concept of sustainability relates to ideas of developing and supporting some process or thing. Sustainable means providing the right or necessary means to support desired goal, process, or entity (Maples, 2005). Sustainability is related to the idea of sustainable development, which has become a core concept in contemporary business environment (Elliott, 2006). This refers to secure, stable and long-term productive relations between stakeholders and corporate operations.

Activists and researchers address sustainability as radical approach than the reformist notion of sustainable development that incorporates a concern for the natural world as something more than just the means to an entity development ends (Gechev, 2005). Attempts to define and implement principles of sustainability in planning and development policy have sometimes been pursued through the 'three pillars' of sustainability that include economic, social, and environmental or ecological prospects (Gechev, 2005).

Importance of Sustainability

The concept of sustainability is highly important today. In terms of business development and market growth, companies emphasize on sustaining their market share that derives the competitive position of the company in the industry (Elliott, 2006). However, all efforts do not help in achieving sustainability via the win-win optimism that has been a key gloss on sustainable development.

Sustainability as a Trend

The concept of sustainability represents a trend that becomes a standard over a period of time. Firms try to remain stable by reducing their cost structure while focusing on the increase in their revenues in order to manage their position in critical downturns, as observed in recent economic recession (Maples, 2005).

Concept of Sustainability in Construction Industry

This section presents an analysis of sustainability with respect to its implication in the construction industry. It assesses how does the idea of sustainability relates to construction materials.

Demand conditions in the construction market will remain relatively sustainable in 2012. Investment in buildings construction is principally derived from the public sector and responsive to long-term budget allocations meeting long-term trends in population and economic growth. Substantial redevelopment programs are already in place to fund the renovation or replacement of the various buildings construction, which have fallen into dilapidated conditions over the past decade (Maples, 2005). Large-scale maintenance contracts to bring public school buildings to ...