How To Sustain Business With Long-Term Impact?

Changing self for the betterment of the future can never be out-fashioned. With changing times and technology, the entrepreneurs need to lay out a powerful strategy for a long-term impression and Business Sustainability. Companies now-a-days need to focus on a strategy that has the least negative impact on the community and society.

Gone are the days, when any business was commenced with the sole motive of profit-making.

Taking care of our environment and society has emerged as another major factors that needs to be considered by all types of ventures. In simple words, to sustain a business, one has to be responsible towards the society and take steps towards an Eco-Friendly Environment. This very concept can also be termed as “Green Business”.

India witnessed a very big change in the form of the industrial revolution, which not only changed the way the companies functioned but also resulted in an everlasting impression on society. The changes that were adopted by the industries led to the production of products at affordable costs.

The nation is again on the verge of seeing a big Industrial and technological revolution. It is expected to bring a massive change in human lives and also result in the advancement of the society. Innovative technology, digitalization, and Artificial Intelligence (AI) will be the key aspects of the upcoming revolution. It will ease the lives of the people and improve communication ways. AI is the intelligence displayed by machines just like the human brain. They ensure no harm is done to the environment with the attainment of maximum goals.

5 THINGS REQUIRED FOR BUSINESS SUSTAINABILITY

Entrepreneurs need to have a long-term strategic plan to keep a sustainable approach in any business. Here are top 5 things that need to be kept in mind for long-term impacts: 

1. Defined Goal-

The goal of any business should be pre-defined with a clear vision of future strategy.

2. Eco-Friendly Environment-

A business should not just limit its objective to revenue-making, but equally, consider of introducing ecologically sound products helpful for society.

3. Excellence in Specified Fields-

The business persons should focus on bringing a change in their respective fields to contribute to creating a sustained environment. For example, people in the motor industry should ensure less emission of carbon from the manufactured products.

4. Open to Discussion and Changes-

Businessmen should always be open to suggestions from fellow-mates and also ready to change their policies with changes in the climate. One should always thrive to bring a change within self.

5. Accountability-

The entrepreneurs should act in a responsible manner to care about their society and environment and not consider it as a burden. It has been witnessed that the companies, which pretend to act in this direction as a load, fail to follow it after some time.

Also Read: What is Sustainability in Marketing?

IDEAS FOR SUSTAINABLE BUSINESS

The companies have come up with a plethora of ideas, while few of them have also started adapting them towards maintainable business. Here are few great ideas that are doing well in this regard:

1. Eco-friendly packaging-

Many companies have started doing eco-friendly packaging that is good for the environment. In this, biodegradable products are used that causes less pollution during production.

2. Ban plastic-

All the companies should stop the use of plastic and use paper bags and other ecologically sound wraps for items of daily needs and groceries.

3. Adopt 3 Rs- Reduce, Reuse and Recycle-

The business companies should adopt these three Rs in order to benefit themselves as well the environment. It will also be cost-effective.

4. Digital Records-

The companies should avoid the use of paper and go digital in maintaining records. It will be a big step towards saving nature.

5. Recyclable Footwear and Clothes-

The footwear companies should come up with recyclable shoes and other products. Under this, the people can return the product which will again be recycled. Top shoe brands like Nike and Adidas are already following the same. Similarly, the used clothes can be returned for the needed size.

CONCLUSION

To conclude, Green Business or Responsible Business is the need of the hour. It is our responsibility to take care of the environment and society and work towards leaving the least negative impact on them while running a business.

The business organizations, especially the youth entering the corporates, should adopt the modern ideas for the required changes. The youth should step into the businesses as change-makers. These ideas on sustainable business will also be beneficial for the stake-holders, the employees, the customers, and the investors.

The United Nations Environment Programme (UNEP) is a massive leap in this direction, wherein the students are educated about the desired changes in jobs, keeping in view the environmental changes. The Government of India has also come up with several schemes to attract entities toward green production.