Question

potential benefits of sustainability strategy

Answer 1

potential benefits of sustainability strategy are discussed as below :

1. Attract and retain top talent: A well-developed sustainability strategy is extremely appealing criteria for attracting and retaining the best employees. Employees feel proud to be part of a organisation that has a positive impact on the environment and society.

2. Access to investment capital : investors are satisfied by investing ahuge pool of money in companies that have been found to be sustainable. It is easy for companies who has sustainable strategy to get investment from the market for their success and growth.

3. Operational efficiency : Running a responsible business and achieving high levels of growth and profitability do not have to work against each other. Reduced use of energy, water and materials consumption, as well as decreased emissions and waste generation contributes to lower operating and manufacturing costs, which will directly improve the company’s bottom line.

4. Enhance Image, Reputation and Brand Recognition: A sustainability strategy has a positive impact on company’s reputation and brand image. It demonstrates that the company is taking responsibility for its actions and embracing change for the greater good. The vital part of a company’s success is the engagement and development of strong relationships with internal and external stakeholders based on trust, respect, and cooperation.

5. Increased product/service differentiation : It is possible for companies to gain an entire new class of loyal customers by offering environmentally and socially responsible products. Therefore, it is easily possible for them to increase market share and tap new markets.