7 Avenues To Business Sustainability Beyond Covid-19

Julie Starr • August 20, 2020



From nuclear wars to pandemics, and pollution, humanity’s existence has been threatened several times. Today we are faced with a test; the COVID-19 pandemic, which has infected over twenty million people globally and claimed hundreds of thousands of lives since reportedly breaking out last year. One of the areas that have been affected by this crisis is the business world, and many businesses are evaluating their business models to determine how well it will hold during an emergency. However, most organizations don’t have a more profound comprehension of sustainability . 

What is a sustainable business?

From an extensive point of view, sustainable business has its activities based on environmental, financial, and societal concerns.  Yet, this way towards sustainability isn’t that simple for most companies. Hence, the need to put together these seven avenues to business sustainability post-pandemic era to empower the future of companies and the community. 

How to develop a sustainable business?

  • Make a smart, incorporated open approach

Building a sound open approach to conservation issues is certainly mind-boggling. The uncertainty regarding how governments failed to act on issues that challenge the business community adds to the already existing planning burden on companies. Businesses can only overcome this with a solid and consistent cohesive policy to adopt modern standards and technologies, and so train their employees for sustainability. But this most importantly cannot be done without having a clear understanding of government directions on related issues. Therefore, it is important to build a national dialogue on responsible consumption and construct a national discourse on accountable utilization.

  • Build influential structures that promote sustainability

Building an organizational structure that supports sustainability is no simple task. Setting up objectives for the business will assist you with advancing toward the future. However, this could be challenged should there be issues like bad or under-staffing, bad organizational structure, poor communication channels, or something different altogether. You will need to have an organized command center throughout the various business units and departments. It has been noted that one key challenge in maintaining a business is the inability to communicate the vision of business sustainability effectively. An example is re-appropriating, which gives organizations access to assist in finishing assignments on schedule and arrive at their anticipated objectives. On the off chance that you have more work than laborers, re-appropriating is probably the ideal approach to ensure the job is finished effectively and productively.

  • Establish sustainability as a core principle

A study in 2007 suggested that business heads or chief executive officers are rotating rapidly through jobs with an average of six years in the US. This poses a challenge to a business requirement for a sound sustainable policy, which involves long-term investment. Practical organizations truly accept that environmental change, exploitative resource utilization, and contamination are high among concerns for which they can assist in finding lasting solutions. Should the leadership of businesses realize the importance of sustainability and its relevance, there will be a concerted effort to appreciate it. Researching on the subject, attending workshops and conferences focused on the sustainable and joining industry alliances towards global goals attainment will be a decent start. 

  • Adopt the culture of outsourcing 

It is an obvious fact that organizations are continually searching for new, improved approaches to decrease expenses and better meet progressively high client needs. Pressures from the competition diminished processing durations, and an increase in customer demands have implied that several companies are switching to outsourcing to keep up. Outsourcing accrues numerous benefits to businesses. Notable among them include improved productivity and efficiency, vast flexibility and cost-saving. The latter supports the fact that every organization seeks to reduce its overhead cost to improve its financial standings. Outsourcing does not just take away the cost of investing in machinery and tools but reduces the cost of hiring and training of staff as already existing field experts will complete the work. It also reduces the number of staff on a company’s payroll. Accounting, for example, is an aspect of the business you can outsource and companies requiring accounting services can visit https://xmigrowth.com/accounting/ for all their accounting needs. 

  • Build an innovative environment to support business sustainability 

The application of a sustainability lens to every aspect of the business requires a certain level of change in strategies. The need for sustainable business growth will call for several adjustments in certain areas which includes;

  • Planning and developing products or services that yield sustainable outcomes
  • Investing in business managers and CEOs to focus on sustainability-driven executions, to ensure leadership strategies conform with global goals and standards
  • Promoting products and services that induce sustainable choices from customers
  • Incorporate a strategy to repair social trust

There has been disintegrated trust in business following the global financial crisis. Therefore, there must be a conscious effort by business heads to regain the trust of its employees, customers, and society at large. Companies must put in place measures to repair the social license to operate in their communities. The social license basically refers to the unspoken readiness of members in a business community or region to allow a company to operate. Besides openly communicating their sustainable interaction with the society, there must be an effort to partner with the civil society, governments, communities, customers, and its own workers towards reestablishing their trust in the business. 

  • Approach competitors as collaborators

A strong collaborative effort is a way to quicken sustainability within a business and the wider industry as a whole. Organizations can do everything imaginable to improve their natural and social effects inside their own activities. However, the large advances are made when organizations adjust the activities of providers, merchants, and every other individual from their worth chains. At the point where one key participant in a division turns out to be sustainability-centered, it drives others inside that segment to go with the same pattern.

This type of rivalry is energized by organizations, not just in light of the positive effect on the environment but also drives them to maintain their sustainability-based advancements.

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