The business mindset has shifted. Profitability is still important. Notoriety is frequently more important than profitability, as both positive and negative attention can help drive profitability. (Reputation management can help to repair the online backlash.) Now, more than ever, how you do business is more important than what you do. Why is there a shift in collective enterprise? Why is going green in business beneficial? The Census Bureau reports that millennials outnumber baby boomers. To be competitive and stay competitive, businesses’ product or service offerings must appeal to the millennial mindset.
Because millennials have a DIY mentality and value knowledge, knowing how to save time and money whenever possible will give you some hints. Certain business practices must also be cost- and time-effective on a local, national, and global scale.
After all, the well-known business adage is “Think Local, Grow Global.” So, how do we achieve, sustain, and expand financial success without sacrificing human consciousness? Be eco-friendly. Being green in business today differs greatly from being green ten years ago. Your green initiatives must go beyond just a marketing slogan. It must define your life.
Green for Business Industry
Green is good for business and even better for industries. Green provided opportunities for construction and real estate firms. Energy efficiency was proving to be a lucrative industry. Properties with Low-E windows, artificial grass, or solar panels appeared more appealing to buyers and tenants looking for built-in ways to reduce operating costs, both residential and commercial. But it wasn’t enough – which is a good thing.
Developing into an industry pioneer
Companies have always had at least one reason to prioritize environmental performance: avoiding negative publicity. That incentive has only grown stronger with the rise of social media. Any news of severe pollution or lax environmental standards will spread quickly—and leave an impression. After designing engines that cheated emissions tests in 11 million diesel vehicles, Volkswagen discovered this. The company is now dealing with customer resentment, product recalls, falling stock prices, not to mention billions of dollars in fines. Simultaneously, business leaders are discovering that clean operations and higher growth can coexist. Customers, investors, activists, and even a company’s employees are now raising concerns about the company’s environmental impact.
Green and Competitive Advantages
Companies that improve their environmental performance do not have to give up their competitive advantage. Even if a sustainable operations strategy raises costs, the benefits of a good reputation can go a long way toward offsetting those costs. Becoming an industry pioneer, for example, can increase a company’s appeal to potential customers and partners while also giving the company a prominent voice in global civil society—all of which benefits the business. Patagonia, an outdoor clothing company, is one such industry leader. Patagonia was a founding member of the Sustainable Apparel Coalition, an alliance of 30 clothing and footwear companies, in 2010.
Green is Beneficial to Business Profitability and Longevity
People are demanding that feelings matter if you pay attention to what’s trending (and who doesn’t?). Many business success stories are driven not by how impressive their sales are but by how their company connects people. The sales funnel is a part of the relationship-building process. Is there room for emotions in business? Absolutely, and communicating them through your green philosophy is a great way to do so. Going green in business saves money and time in logistics, production, employee headcount, and other areas. When businesses can reduce operating expenses while increasing customer satisfaction, they not only have a better ability to expand their market share, but they can also grow positive brand awareness and existing customer loyalty, which goes a long way toward building brand loyalty.
Greening your business can be a simple process. Allowing employees to work remotely, for example, reduces gas consumption and pollution. Small changes can be made to help us see the big picture: we can all work together to create a more sustainable way to live and thrive. Even if your company does not directly fall into one of the following industries, you can certainly think of ways to use them to improve your company’s environmental stance. Businesses that promote sustainability include Recycling Printer Ink Cleaning Providers, Solar Power Installations, Auditing of Energy Consumption, Improvements to Residential and Commercial Property Landscaping, Organic Products, and Restaurants.
Green Today Must Lead to Greener Tomorrow
Consumers want to be confident in the products and services they choose, not just for today but also for the future. It’s a strange paradox, to be sure. Although people do not want to “own” anything, when they do make a decision, it should benefit someone else later on, whether it is their family, friends, or strangers abroad. Sustainably doing business allows this to happen naturally.
Is Your Company Green Enough?
Truly green businesses use sustainable solutions at every opportunity. What color do you think you are? Could your company make a decision based on what your customers think about this?
If you’re unsure, consider the following questions:
- Does your company give back to the community with every transaction? Is your company exhibiting a green mindset in its operations?
- Is there a green mentality in your company’s culture?
- Is your product or service (in its use) environmentally friendly?
- Do you collaborate with other environmentally conscious businesses?