To some, the claim that sustainability enhances profit may be inconceivable. However, there is plenty of materialized and cyclic proof that corroborates the claim. Support for people and planet-friendly brands is growing – the direct result from this purchase phenomenon is making profit grow for such sustainable brands.
Consumer bases and stakeholder policies are rapidly transforming to support business sustainability. It is becoming a norm nowadays for customers to purchase products and services from brands that support sustainability practices in operations, processes, and end products. This is because the consumer base has its own self-consciousness that extends to the conservation of the environment and the uplifting of society. This consciousness is creating a major shift in purchasing decisions.
Incorporating sustainability values in stakeholder policies is now becoming a part of business strategy. As more and more people prefer to purchase products and services from brands that support sustainability practices, businesses which do not adopt them will be at a disadvantage. This could come at a cost to their bottom line.
When investment decisions are aligned with sustainable practices, businesses can take more sustainable actions and then promote those activities. As a result, clientele will expand and more profit is generated. It is a self-sustaining and self-augmenting cycle.
A values-informed society will create growing demands for products and services that have fewer impacts on people and the planet than conventional products and services. To stay relevant in business, it is time to shift your mindset to improve social and environmental outcomes by fostering more sustainable business activities that could boost your bottom line.
How can you identify business opportunities in sustainability and explore business strategies to stay profitable in the new wave?
Enroll in the Corporate Sustainability certificate program offered by Genashtim in collaboration with eCornell.
eCornell courses are approved by SkillsFuture Singapore for SkillsFuture Credit as well as by HRD Corp Malaysia under its HRD Corp Claimable Course Scheme.