Vol 7, No 6 (2016) > Editorials >

Optimization of Stakeholders’ Benefits in Sustainable Development

Mohammed Ali Berawi

 

Abstract: Continuing our discussion on the various strategies toward achieving sustainable development, in this issue we will discuss the optimization of stakeholders’ benefits. The purpose of sustainable development is to effect economic growth, social wellbeing, and an eco-friendly approach in a way that benefits to its stakeholders: the governments, private sectors, and communities. Accordingly, the concept requires such groups to nurture a culture of participation, collaboration, and continuous improvement.

Achieving sustainable development is a challenging process; the various interests of society, in terms of economic, social, and environmental perspectives, need to be integrated, and trade-offs are required should they be incompatible. A holistic viewpoint, through a multidisciplinary approach, is required to facilitate the interaction of these diverse aspects, meaning that collaboration is necessary amongst the various authorities and interested parties.

It is argued that participation and collaboration amongst stakeholders is one of the key factors for successful sustainable development. For example, the success of a sustainable infrastructure development is defined through the actions of the government, which can provide public facilities; the private sector, which can gain profits by investing in and executing the development; and the community, whose members can pay an affordable price for accessing the developed services. If sustainable development is to achieve its potential, innovation and value-added projects must be created. Investments in green technology, efficiency and effective processes, safer materials, and improved performances and outcomes are some of the results of such development

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