e study – Patagonia – as an example.
Adopting sustainable actions heightens Patagonia’s brand value, thereby providing them with loyal customers who are willing to financially support a brand which aligns with their own ethics and values. In fact, 81% of consumers suggest they will make a personal sacrifice to address social and environmental issues. For Patagonia, this is a huge short-term economic advantage.
The short-term benefits of sustainable actions don’t end with heightened brand value and the acquisition of loyal, well-paying customers, either:
- Being a sustainable business can help you when bidding for contracts from governmental or corporate bodies who work with sustainability.
- Focusing on sustainability allows you to scrutinize your overall business functions – specifically, where you are wasting time, effort, and money. For example, by incorporating environmental accounting procedures, you can reduce your energy costs. By improving your workplace environment, you will reduce employee turnover, save money, and benefit from increased productivity, engagement, and innovation.
Ultimately, being a sustainable business won’t just result in benefits that take years upon years to reap; there are plenty of short-term advantages that directly result in profitability.
How you can be a sustainable business
In this post, we have considered what business sustainability is, and how a sustainable business is made up of three different principles.
We have also seen why business sustainability is needed, and considered the negative impacts of being unsustainable, in addition to the positives that being a sustainable business brings.
Now we’ll look at how you can do your bit to help create a more sustainable business, and how Process Street can help you achieve your sustainability goals.
How to use Process Street to help you become a more sustainable business
As a piece of business process management (BPM) software, Process Street has targeted common business procedures and looked at how they can be made more sustai