LEVEL UP Your Sustainability
The Triple-Bottom Line outlines the sustainable practice that organisations strive for on a global scale.
Encompassing People, the Planet, and of course Profit, the point of sustainability is not centered entirely on the environment.
Today we take an ethical look at how businesses should run to ensure longevity in your corporate lifespan.
People
Being focused on people means being invested in the stakeholders supporting your business.
In terms of employees, having a sustainable practice in the workplace involves training, educating, and appreciating the employee’s well-being.
With a workforce that is prepped for the now and the future, a sustainable organisation is equipped to adhere to any changes that may come their way.
In terms of customers, focusing on their well-being is also crucial.
Changes in preferences, likes, dislikes, and standards of living are all elements that influence the reception your target market would have toward your brand.
Staying up to date and adhering to their needs is imperative to remaining sustainable.
Planet
The earth is filled with finite resources that are utilised globally by organisations on a massive scale.
Remaining sustainable in terms of the environment is a no-brainer when it comes to business.
Cutting down on waste, changing over to environmentally friendly packaging, and using alternative means of transportation are all ways that organisations can impact the earth positively.
Where most firms fail is finding the root cause of their wastage.
This usually sits within deep processes or at the back end of strategy where the culprit is often cutting costs.
Most firms need to gain the understanding that cutting costs now (at the expense of the environment) means that in the long run, there will not be resources to use.
Making the changes now means remaining in business in the long run.
Profit
A sustainable business is one that remains profitable.
It may seem obvious but staying active over a longer period of time means being able to remain profitable.
Firms need to focus on building their profitability and growing from year to year.
In order to make a bigger the following year, having the finances to back it up is necessary.
Hiring employees that build your firm, remaining innovative, and implementing sustainable practices all come with a price tag and in order to ensure that these are cemented, your firm needs to grow.
The Bottom Line
Sustainability is in fact a choice.
Every firm is faced with the unknowns of the future and being able to adapt and change is crucial for future success.
Where most businesses fail is focusing efforts solely on the now without taking the next into consideration.
Sustainability is a choice you need to make now.
