Both research and concrete success stories make the case for investing in sustainable business. But what is the positive impact of sustainability based on?
1. The rules of the game have changed – What worked yesterday won’t work in the future.
From a business perspective, digitalization can provide a benchmark for change. Even now, some say they are not affected by the phenomenon – and end up with the worst-case scenario of failed change management like Kodak’s cameras or Nokia’s mobile phones. Others believe in what they see clearly ahead and turn the opportunities that this trend brings into a driver for growth.
2. Responsibility attracts capital
Companies that focus on sustainable business practices attract investors both in terms of risk management and expected returns. The EU’s green development program is the biggest driver of the trend towards responsible investment, fueled by Russia’s invasion of Ukraine. Even faster than the legal requirements, new demands are coming faster and faster against companies in international supply chains – including SMEs.
3. The most sought-after talents demand relevance from their work
The transformation of work is raining on the shoulders of responsible companies. For the new generation, a salary alone will not bring fulfillment. They are thinking more carefully than their parents about where they want to work and what values they want to promote. The importance of relevance becomes particularly crucial in sectors where competition for the best talent is fierce.
4. Ethical and environmental values drive purchasing behavior
The most important asset of a responsible company is a committed customer base. People want to be part of the solution to global challenges, and they are looking to companies. Brands are expected to deliver on promises, not concrete actions, which require more than just fine words.
So, what to do?
For sustainability to be a true driver of growth, it must be seamlessly integrated into all aspects of business and speak the same language as both marketing and corporate culture. It all starts with knowing yourself and understanding your impact on the world around you. With a clear focus and a plan in place, it’s easier to start the journey to a better business – and that’s where we can help you.