- To be conscious about sustainability
- To train the employees
- Electric and water conservation
- Supply Chains
- To develop a recycling program
- Chemical management
- To purchase only energy efficient products
- To develop sustainability policies and procedures
Sustainability term has grown quite popular into many corporate strategies. Another term gaining popularity is ‘green business’ practice. Sustainable development is very important in today’s time. A company should work taking into account the sustainable strategies. The topmost companies should work in such a way that they do not compromise the needs of present as well as the future generations. Causing the destruction in ecosystem and the environment is a primitive concept now. Achieving human development goals while taking care of the natural resources is the main strategy of successful companies. Use of renewable source of energy is encouraged by the companies regardless of its size. Different sustainable strategies used by successful companies across the world are as follows:
1. To be conscious about sustainability
One of the main purposes and organizational goals should be including sustainability. Making sustainable development in a company in such a way that each and every aspect of organizational operation is carried out by making sustainability a priority. Companies should focus on multiple disciplines ranging from supply chain management to decrease in carbon emission. E.g. Adobe is a software company which uses renewable energy technologies that includes solar arrays and hydrogen fuel cells. It mainly focuses on reduction of greenhouse emissions.
2. To train the employees
It is very important to train the employees in conserving the natural resources. The company’s policies regarding the environment sustainability should be made aware to the employees. Employees will also be able to share ideas regarding the reduction in wastes which will be beneficial for the company as well as the environment. Nowadays human resource department contribute highly in maintaining sustainable strategies in a company ranging from appointing the employee to training in employment wellbeing programs. Successful companies like Walmart, General electric (GE) are examples of employee engagement regarding the conservation of resources.
3. Electric and Water Conservation
Companies should function in such a way that it is able to conserve electricity and water. Strict regulations should be made in order to save the valuable resources. Converting lighting, energy faucets etc., one can conserve water, electricity and the budget also can be under control. E.g. Coca cola has improved the efficiency of its water use by 20% through its water management approach.
4. Supply chains
Companies should focus on working towards sustainable development as consumers show keen interest in a company who is sustainable friendly. E.g. Ford Motor Company works with its suppliers so that it can cause reduction in GHG emissions and establish energy efficiency target. It is very important to maintain a list of vendors who are environment-friendly and all organizations should embrace sustainable business practices.
5. To develop a recycling program
Developing a recycling program is one of the main business strategies used by successful companies across the world. It is necessary to recycle waste in the company. One can use recyclable products like electronics, fluorescent light bulbs, paper products, supplies etc. E.g. Dell is a computer company that uses recycled and recyclable materials in its products and packaging design. To reduce the amount of energy of its product collection by 80% is the business strategy of this company in 2020.
6. Chemical Management
Chemicals have a very negative impact on the environment. It is necessary to use the non-chemical products for pest control and weed management. Proper use of chemicals and its disposal should be taught to the employees. Pollution in the environment is caused due to the chemical products so one must strive to use the green cleaning products and encourage others to do the same.
7. To purchase only energy efficient products
It is very necessary that the products and office equipment's that we us are environment-friendly. So, the companies should purchase the products that have high level of efficiency, i.e., EPEAT registered. E.g. Bank of America is adopting the technique of purchasing only the energy efficient products.
8. To develop sustainability policies and procedures
Developing sustainability work policy has been the major strategy of flourishing companies nowadays. Procter and Gamble is a multinational company that has sold nearly $52billion in sustainable products. The company provides more than 10% reduction in water use, energy use, material use, transportation etc. The company consistently encourages the idea of using renewable energy and recyclable products. In this way, the policies should be developed that support the cause of conserving the planet at large.
These are the business strategies followed by successful companies across the world. The crisis we are facing in 2020 has made it necessary for companies to function through sustainable strategies and continue to give priority to the climate crisis as an emergency situation in the present time. All companies whether big or small should develop an environmental policy focusing on sustainability; to endure brands and build relations with consumers. These top tier companies are working towards a single goal of driving sustainability into product and services. They are working on various business strategies like greenhouse gas emissions, use of renewable energy and recyclable products.
During the annual shareholder meetings, these top tier companies identify problems like climate change, public health issues, water scarcity etc. Employees should be trained through sustainable development programs. E.g. 1) An organization like Xylem holds responsible juniors to top-level executives for sustainable performances. 2) Exelon is an energy producing company that rewards executives for meeting non financial targets like reduction in GHG emissions, safety targets etc. 3) Nike is a sports-gear multinational company which is involved in making sustainable design decisions.
In this way, sustainable structure should be practiced by all the companies across the world which is environmental-friendly and resource efficient starting from designing the brand, construction or production, execution, operation and maintenance.