Sustainability and Business Strategy
In simple words a business is sustainable when generates a positive impact on the environment or society. A sustainable strategy aims to positively impact one or both of those areas, helping address some of the world’s most pressing
problems, such as climate change and income inequality. Here below few reasons why business sustainability strategies are essential to financial success:
Improper practices damage reputation and dealing with a public relations disaster can divert important human and financial resources from the core business.
By instituting a sustainable strategy that protects the environment and your workers, you also protect yourself from any damaging effect on your business reputation.
Competitive advantage because of purpose driven goals
Sustainability and business goals go along very well together. Recent studies show that 90 percent of executives believe an organization with shared purpose has greater employee satisfaction. Additionally, 85 percent say they would recommend more a company with a strong purpose.This factor can be a competitive advantage when attracting best talents and target markets.
Market for sustainable goods is growing fast
Today consumers are willing to change their habits to reduce their negative impact on the environment; sustainable products sales have grown by 20 percent since 2014. Millennials in particular love sustainable ingredients or products that reflect social responsibility.
Together we can change
As individuals we feel overwhelming or simply impossible to create changes in a meaningful way.
But when innovative and successful companies are working together to solve pressing problems, we can see that our efforts are in good company. Purpose-driven companies working together have experienced great success.
Value of sustainability
Sustainability doesn’t mean sacrificing profits; It has become a crucial element in any organization’s successful strategy, for improvement in profitability, growth, employee retention.
Integrating sustainability into a business strategy create more opportunities for success.