Sustainability is an important thing for industry and business today. Today 62% of business owner executives worldwide consider a sustainability strategy necessary to be more competitive. Simply put, sustainability is a business approach intended to create long-term value by considering how a business operates and what impact it has on the environment, social and economy. As expectations of corporate responsibility increase, and as transparency increases in the business world, companies realize that they need to run a sustainable business.
A sustainable business is a responsible and environmentally friendly business. If you still don't really understand why you should switch to a sustainable business other than helping to protect the environment, you can check the reasons below!
Today, consumers determine how much they will spend as well as how much they will waste. Consumers who no longer need a product will of course throw it away in order to get more space in their closet or home. However, now the trend has changed and many consumers are starting to become aware of the sustainability aspect.
According to statistical data, 73% of global consumers stated that they would or might change their consumption habits to reduce the impact of consumption on the environment. Meanwhile, according to Colman Brunton in Better Futures, 42% of customers are more interested in shopping at sustainable stores or businesses. As consumers become more and more aware of the effects of the goods they buy or throw away, they are also more interested in buying products from sustainable businesses. Even millennials don't mind if they have to pay more to get environmentally friendly products than to buy cheap products that pollute the environment.
With consumers' expectations for sustainability and new laws around the world, business owners around the world are being encouraged to be more environmentally friendly. This means they need to consider what they need to do to reduce overstock and reduce waste generated. As we know that warehouses that stockpile too many items that are not selling well are certainly not conducive to your business environment, while if you throw them in the trash, your reputation can also be tarnished. By implementing a sustainable business you can better control your inventory and prevent overstock.
A sustainable business is an efficient business. Wherever you apply sustainability thinking, you can save on various aspects. For example, an energy-efficient office consumes about 20% less electrical energy and will certainly help you reduce your company's electricity bill. In addition, by managing waste and adopting energy-saving practices, you can also save fuel. This will certainly benefit your business.
According to a global report by Deloitte in 2018, many young talents prioritize wellbeing, a reputation for ethical behavior, and the opportunity to volunteer” when they choose the companies they work for. And according to Colmar Brunton, 72% of young people say it is important for their prospective employer to be socially and environmentally responsible. This is why it is very important for a business to apply the principle of sustainability if it wants to get the best talent or workers.
Implementing a sustainable business is not just about managing waste or reducing the use of plastic in your business. There are many ways to make your business more sustainable. Are as follows!
Sustainability should be a corporate strategy and reflected in business objectives. This means making this a priority in every aspect of the organization's operations. You can campaign that the business or brand you are marketing is a sustainable and environmentally friendly brand. You can also invest time training employees on the importance of preserving the environment and planning together what your business can do to help conserve resources.
Saving water especially in production or operational processes is something we can all do to save resources and preserve the environment. Plan things that can help you save water and electricity in your company. Ask for ideas from employees to save more energy for example if employees find inefficient use of energy for example lights on machines that do not need lighting and others. Look for and use energy efficient electronic products and use environmentally friendly settings on every office equipment.
Statistics show that customers prefer doing business with sustainable companies that are environmentally friendly. Maintain a list of vendors that are environmentally friendly and also apply the principles of sustainability. You should know for sure that the vendors who supply you with materials or products are also environmentally responsible. If you find that your supplier does not really care about environmental or social aspects, you should look for a better supplier that is in line with your business.
Try implementing a recycling program for recyclable products such as electronic fluorescent light bulbs, plastic packaging, computers and monitors, paper products as well as inventory. There are many items or products that can be recycled, and if your company or business does not have an independent recycling facility, you can use the services of a recycling platform or a vendor that provides this service. Working with an agency that handles the recycling of your product packaging will certainly help your business become more sustainable.
We all know that chemicals, especially waste, have a bad impact on the environment. Therefore, if your company wants to implement a sustainable business then try to use environmentally friendly cleaning products and non-chemical products for pest control and weed management.
Ask your chemical supply vendor to help train employees on how they should use and dispose of chemicals used in business operations or production processes. If you use a cleaning service or facility, make sure they also use environmentally friendly products.
Develop policies and work procedures to support your efforts to create a sustainable business. You can implement simple policies at work such as turning off electronics at the end of the day or at the end of work and enabling energy saving settings on all computers and desktops. You can also ask employees to use digital platforms to reduce paper usage and manage things like returns. ReturnKey platform will help you manage a more efficient and energy-efficient return process so you can focus on making various efforts to realize a sustainable business.
The challenge to preserve the environment is not as easy as it seems but if all parties try to do it, whether big or small companies, we can all contribute to preserving the planet we love.