Sustainability Is The Future For Businesses, Are You Ready?

Today, it has become more common to hear about sustainable companies. In most cases, these companies follow environmental policies so that their work causes less impact on the planet. Although this is a very important advance, as we are becoming aware of the consequences of our actions, companies must aim to be sustainable not only in ecological matters but in different areas.

Companies must be sustainable in social, cultural, economic terms, among others. Sustainability is about finding the balance between purpose and profit so that not only the company grows, but also its members and the community where it operates. Financial performance must go hand in hand with social and environmental performance. This is why sustainability should not be confused with philanthropy since it is not about companies donating part of their profits and obtaining short-term results, the impact of which will be lost over time. 

On the contrary, being sustainable is about strategically ensuring financial and social stability. Deepak Agarwal often speaks about how you can make your business more sustainable. In essence, it is the recipe for future success. 

How can it help my business succeed?

Sustainability can bring different benefits when doing business. For example, it will project more credibility since it will let customers know that the company respects the community, the environment, the sector, etc. Additionally, it works to let your competitors, clients, see the heart of your company, and appreciate the responsibility that you’re undertaking. It shows a need to change and to keep up with new changes; as well as being able to create benefits. Whether this is using less paper, switching things to digital, or offering services that make other people’s lives more sustainable, the options are endless for businesses. 

Sustainability is an alternative for business growth that positions them as institutions that work for the common good and not only for private interests. Companies must be aware of the impact of their operations and design policies and strategies that respond to common interests, and that pay back what they have taken. These decisions, of course, must be strategic so that the change and impact of sustainable policies are indeed evident. 

Being sustainable is making a difference and positively impacting society. In this way, not only the union but society, in general, is empowered. The reason for being sustainable is based on the fact that companies are not institutions outside society. On the contrary, they are entities that can produce change, transform, innovate, and renew social and environmental dynamics. This is the way that you are going to drive your business forward. 

It will allow you to maximize your future successes and ensure companies’ greater sustainability in the medium and long term. Sustainability then becomes a tool to achieve greater competitiveness. It’s time to start looking into the ways in which you can accomplish this. Sit down, plan with your business colleagues, and take things to the next step. Sustainability is here to stay, and you should be ready to go!

Is Your Business Eco-Friendly?

The world we live in has changed dramatically over the last forty years, and with it, businesses have had to adapt, learn, and grow. The consumer is placing more demands on us to be quicker, cheaper, and now, more sustainable. Understanding consumers' needs are essential for longevity in today’s world, so are you doing enough?

It’s never been more critical for companies to build sustainability into their culture. Ensuring they channel efforts into ecological and social responsibilities. It’s no longer acceptable to use wasteful packaging, the public wants to move away from plastic, and your carbon footprint could have a significant impact on your turnover. Demand for core values within a business to change has been so high that industry leaders have had to make some significant changes in their working day. 

McDonald's and Burger king have moved away from the plastic straw after the internet lit up with campaigns that forced major players to invest in innovative solutions. Leading retail giants Walmart, IKEA, and H&M are working with their supply chains to reduce waste and improve material usage while ensuring local labor conditions within their suppliers are improved. Many companies have looked into 3D printing as a sustainable manufacturing process too, coming up with ways to cut down material waste, particularly through the prototype stage. Click here to see how 3D prototyping works. 

Consumers are one of our stakeholders and how they think, feel, and behave should drive your marketing and your actions. Now, businesses can be held accountable by the public via social media, the people have a voice, and they are not afraid to tell you when you are unhappy. It’s essential to stay ahead of your competitors; however, working with other businesses in your sector could help generate more significant impacts across your whole industry. This, in itself, could help improve your relationship with your target audience. 

Highlight areas within your business where you could make changes. Whether it is within your packing, production, or sales, there are multiple ways you can make a difference. Research what is available and see if you could reduce your waste. Speak to your suppliers to discover how they are making a move to a more eco-friendly world. If your product is being made overseas, look at the costs of having it manufactured closer to home. Invest some money and time into social projects to help people in low-income areas.  And make sure your business is operationally set up to keep you on the path toward those goals. For instance, if you are a player in the agriculture sector, looking to scaling your commercial cannabis cultivation; you could delve deeper into sustainable practices like organic farming or water conservation and energy-efficient lighting systems. These changes are not only good for the environment but may also contribute to higher product quality and more recognition of your brand.

Most importantly, communicate with your consumers. Highlight what changes you are making, talk about your future commitments, and then ask them for their opinion. What would they like to see your industry do? 

Now is the time to act, because when the consumer uses their voice, if they feel they aren’t heard, they will walk away. It’s not only vital for the planet that you step up and become a more sustainable business, but it’s also critical for the future success of your company, your staff, and your stakeholders. So look after the planet and ensure your future. 

7 Things You Can Do To Make Your Business Better For The Planet

Are you looking for ways you can make your business better for the planet? Becoming a more eco-friendly business will not only help your budget but your bottom line. You’ll save money, and likely even make more money due to the fact that people are always looking for eco-friendly businesses to work with. That’s not the only reason to do this, of course - being a good business for the planet is important regardless. Many businesses have a huge carbon footprint, and the planet will benefit massively from cutting them down as much as possible. Read on for some suggestions: 

Cut Down To A 4 Day Working Week

The 4-day working week is something certain European countries are adopting. Not only is it better for employee morale, but it also means reducing cars on the road, the need for public transport, and conserving energy as you don’t need your lights on, equipment plugged in, etc. Many business owners worry that they won’t get as much done, but many get the same amount of work done. Employees tend to fill the time they have, which is why many are able to get the same amount of work done in four days as five days when required. 

Introduce More Remote Workers

Working from home is another great way to help the planet. If COVID-19 has taught us anything, it’s that working from home is entirely possible for many businesses that didn’t think it was possible. You can hire freelancers to work remotely online before hiring in-house employees, or you can simply employ full-time employees using strategies like flexitime. 

Work With Eco-Friendly Suppliers And Partners 

When you partner with like-minded people and organizations in your community, you have an even more positive impact on the environment. For example, look at Earth Friendly Promos next time you have an event to attend or host. 

Make It A Part Of Your Company Culture

Making this a part of your company culture ensures everybody is on the same page, and it helps you to attract people who are already in alignment with your ethos. You could even get ideas and input from your employees to improve further. 

Recycle And Reuse 

Recycling and reusing everything you can make a big difference in the long run. A company’s recycling program ensures you’re doing all you can to recycle glass and plastics, for instance. Make sure you purchase recycled items, too! Many places sell things like recycled paper and ink cartridges. 

Use Green Cleaning Products

Having a clean and hygienic workplace is a must, but many of the nice smells you get from cleaning products are actually toxic. Eco-friendly products might seem expensive, but they are much healthier and better for the planet. You can also justify it by thinking about the improved health and clarity of your team. Don’t forget about the healthier planet, either! 

Ensure Everybody Is On The Same Page 

You can’t achieve this alone. You need to make sure everybody is on board. Make sure you’re not the only one making sustainable choices and that everybody knows what they can do to contribute! You could have a noticeboard, for example.

How will you make your business better for the planet?  

Social Responsibility: A Startup Guide

You’ve likely heard about corporate social responsibility (CSR) in one form or another. Initiatives like Starbucks pledging to donate 50 million meals by the year 2020 or Toms one-for-one mission where a pair of shoes is donated for every pair bought are well-known examples of social responsibility in action.

Over the past decade, CSR has become more important than ever before. Consumers believe that when they use a product or service of a socially responsible company, they are doing their part. The more socially responsible the company, the more supportive the community and consumers become. But CSR isn’t just important for brand awareness or driving consumers. How a business conducts itself, ethically speaking, can change the trajectory of success — including its ability to attract top talent.

If fact, it’s a crucial component of attracting Millennials, with 86% of the generation considering it a priority to work for a business that conducts itself ethically and responsibly. Not to mention, most are willing to take a considerable pay cut to work for such a business. This may just be one generation but think about this. By 2025, roughly 75% of the global workforce will be Millennials. The corporate cultures of most large organizations will be directly shaped by this generation’s habits and expectations

Hence, the value of social responsibility.

Of course, if you’re a startup you’re probably facing financial challenges that come with getting off the ground. In this case, it’s easy to view socially responsible initiatives as a daunting task or even a luxury reserved for larger corporations — after all, there are so many elaborate and wonderful initiatives out there. But that doesn’t have to be the case.

With startups in mind, Embroker, put together this comprehensive guide that outlines how to integrate business ethics and social responsibility at the startup stage. It covers topics like how to prioritize social responsibility, how to give back when you’re a startup on a budget and examples of companies who’ve done it best.

For example, they outline six ways to give back on a startup budget:

1. Start with making internal changes. 

Sometimes the easiest way to execute social responsibility is making changes within your company/organization. Can you make changes to your internal startup culture by implementing flexible hours, catered lunches, or other non-traditional perks for your employees? In which people have flexible hours, healthy catered lunches, permission to bring their dogs to work, and a wide variety of perks that fall outside traditional workspace norms.

 This may be stereotypical of a startup culture or young workplace but, but what this does is cultivate a strong culture where empathy and awareness of social impacts are top of mind. This can be a powerful tool for building a commitment to other aspects of social responsibility later on down the line.

2. Look at what your immediate community needs

Sometimes, just figuring out where to even get started can feel overwhelming, especially when there are endless ways to get involved in social responsibility.

Try taking this on at a small scale by helping out where your community needs assistance. Maybe it’s volunteering at a local shelter or organizing a beach cleanup. These types of small scale opportunities are a great way to be socially responsible and only cost your time.

3. Start small and ask for help

In other words, lean on the larger community to execute socially responsible initiatives. Maybe you want to organize an event to raise money for charity, but you don’t have the resources. Try asking a local venue to donate their space, a local restaurant to donate food and people from your business to help with logistics. Again, all that takes is time.

4. Lay the groundwork for a sustainable supply chain

If you're a product-based business that deals with manufacturing, this one is for you. Make ethical choices in your supply chain: consider where materials are sourced from, how they’re made and manufactured.

5. Get your board of directors on board with your initiatives

If you’re a startup that’s acquired VC funding, then it will be important to get your investors and board of directors on board with your initiatives. This may seem like a daunting task since these individuals holding the purse strings want to understand the business impacts of CSR initiatives. But if you can build a case as to why this supports your company and it’s the bottom line, and it’s their job to be laser-focused on returns, you might just get their blessing — and maybe even a budget.

6. Give volunteered time off (VTO)

Again, being socially responsible doesn’t have to cost money. Maybe you don’t have a budget or board of investors, but you can offer uptime volunteering.

VTO works just like paid time off. You give employees paid days off to provide volunteer services of their choice. This could even grow into a company-wide effort where you collectively choose an organization and take a company-wide VTO day.

To learn more about ways to apply socially responsible initiatives at the startup stage, check out their complete ethics and social responsibility guide.