Sustainability Has Become Crucial for Business Survival

By Mariliana Fotopoulou Sunday, August 9, 2020

Businesses no longer have the option of whether they want to be sustainable; it has become a crucial part of your business and the environment’s survival. To most, the term sustainability only reminds them of endless heaps of paperwork and causes for auditors to find fault with their company and operations, but this is not what it’s about.

At its core is a mindset where individually and ultimately as an entire organization each action is weighed against the social, environmental, and governance impact generally referred to as ESG. Just like the environment, there is no use for your business to operate if there is no planning made to remain in the future.

Companies that do not incorporate sustainable business strategies in the long run generally find themselves falling behind competitors who do. Implementing a sustainability mindset and building everything you do around it, you are also securing your company’s future.

Step-By-Step Sustainability

In recent trying times, companies have been forced to look for ways to save costs like switching off lights and air conditioners when not in the office, not only for the night when no one is at work but also if one goes to a meeting. It is said that companies first need to feel it in their pockets before acting, as they might not have been in the position they are if they have implemented these principals and integrated it into their operations from the start.

It might seem to simple to just switch of lights and then call your business sustainable, and maybe it is, but it is a start. Just like success, the road to sustainability begins one step at a time. Once an organization has decided to go green and have accepted that it has enormous benefits for the company itself, incorporating it into strategies and goals almost becomes natural. It might be trial and error at first, but good practice makes everything run smoothly.

When going green has been integrated into an organization’s standards, it will become their utmost important undertaking to align all its operations with such standards. This will ultimately increase your company’s status and overall opinion in its customers’ mindsets. You can gain their trust not only in the products but also in the operations in making the product and the company’s dedication having the entire supply chain add value to the environment, community, and economy. Enjoying a product should be a guilt-free experience for the consumer, and that is what a company should strive for.

Incorporating SMART Goals: Specific, Measurable, Attainable, Relevant, and Time-Bound

There is no use if you do not pinpoint your goals, be extremely clear about what you would like to achieve. Determine how it will be measured: what will determine that you have met your goals? Setting unattainable goals will result in giving up before even starting, and having goals with no relevance to your company’s operations is pointless. Essentially set a time for when these goals should be achieved or re-evaluated. This way, it will be easier to stay on track.

Once all of that is done, it is time to set a mission statement. This will explain for which reason and for what cause your company operates. This should fuel and not hinder operations and is best if goals can be deduced from the mission statement.

Your strategy will get you there. Sustainability should be about running your business to its full capacity, giving back to society and the environment, but can only be done if the company is lucrative. The strategy will determine how you will remain lucrative whilst implementing green principles. It goes hand-in-hand, the greener you go, the more you grow.

You are not in it alone — affiliate with enterprises that have similar goals than yours. Together is always better and will help both enterprises to rise to their goals faster when the load is shared.

Every so often looks back at your progress and determine how far you have come and how far you will have to go. This is like taking in the scenery on a hiking trail, catch your breath, celebrate the victories and mentally prepare yourself for the steps to follow.

When aspirations become a mission and strategies are built to get there, the result will become a dream realized — a lucrative business that gives back to the environment and is so deeply rooted in the hearts of society that it will endure ceaselessly. The further you plan for the sustainability of leaving some for future generations and add value as you go, the longer your company will remain. Otherwise, it could become a distant memory soon to be forgotten, just like how the resources it has depleted have vanished.

About the Author

Mariliana Fotopoulou

Mariliana has an MSC in consumer analytics and business strategy. She has a special interest in fast-moving industries and big data.

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