British Petroleum Sustainability in Project Management Essay

British Petroleum Sustainability in Project Management - Essay Example It would be crucial to depict that sustainability, in business, generally refers to the approach of minimizing the unfavorable impacts caused by the operations of the business to the local or the global environment, the community, the society and the people altogether (Deloitte, 2010). Correspondingly, during the management of any project, gaining sustainability is quite mandatory as it works towards the welfare of the business in the long-run. In order to get a comprehensive understanding to this notion, the discussion of the paper will consider the example of BP Plc and its approach towards attaining maximum sustainability when managing projects. The primary aim of this particular study is to determine the approach of BP Plc in attaining sustainability in its worldwide operations through effective project management. The paper will also analyze the data gathered with the assistance of a sustainability framework that would be developed from the review of various literatures and jour nals. Literature Review Importance of Sustainability in Business It is apparent from the above discussion that sustainability is quite a vital component in various areas of the business of the companies irrespective of the industry they are operating in. It will not be ambiguous to depict that in order to ensure the long term survival of the business; companies need emphasize on enhancing their performances regarding sustainability. Businesses in the contemporary scenario need to deal with various challenges that are quite distinct and separated from the day to day activities of the organization. One such challenge for businesses today is dealing with the aspect of sustainability within various operational areas. Contextually, Clayton & Radcliffe (1996) argued that organizations in the modern scenario face challenges in terms of social and environmental issues that have hardly bothered the companies operated in the past. There is an extreme pressure from the government and other ext ernal non-profit bodies that instructs business units to conduct their business in a way that hampers the environment and the society to the minimum level. In many of the large organizations now-a-days, operations of the business largely focuses toward fulfilling the needs of the customers without harming the interests of the environment and the society altogether (Clayton & Radcliffe, 1996). Again in similar regard, in Fordham University (2013), it was depicted that sustainability in various operational areas of business lays a strong foundation for maximum profitability with regard to the long term operations of the business. According to the report, a sustainable business acquires the capability to deliver innovative products and services to the customers, promote accountability of the business and address the welfare of the shareholders and stakeholders of the business (Fordham University, 2013). In precise, it can be stated that sustainability in business can be regarded as a c ornerstone for the success of the same.