How to create a more sustainable business strategy for 2022

There are several ways you can turn your organization's goal into performance. How to create a more sustainable business strategy  Here are some of the steps to follow to create a more sustainable business strategy.

1. Problem assessment and goal setting

The first step to leading change is to assess what sustainability means for your team, company, industry, and customer. Consider the big problems that each of these groups believes to be a priority.

To guide this process, consider asking questions, such as:

  • How much waste does the organization create?
  • Is our company culture struggling?
  • Do our hiring practices attract different job candidates?
  • Is our product geared to helping a specific audience?
  • What is the impact of our company on the local community?

Answering these types of questions will help you set your company's sustainability goals.

  1. A quick tip: Need help setting your sustainability goals? Follow the SMART Goals approach as you progress these steps. Making sure that your goals are "smart" - specific, measurable, achievable, relevant, and time-bound - at this early stage can save you time in the future.

2. Establish your mission

Once you have agreed on concrete goals, you are ready to define your company's mission. An outstanding mission statement is an important part of becoming a more sustainable business.

An effective mission statement demonstrates your company's focus on "Execution." It should effectively capture your organization's values ​​and goals and serve as a guiding light for why you do what you do. In other words, your mission statement should define the five elements of your company: who, what, when, where, and why.

Here are two examples of companies with effective mission data:

  • Warby Parker's eyewear brand's mission is "to deliver designer eyewear at revolutionary prices while pioneering the way for socially conscious business."
  • Patagonia's outerwear business mission can be divided into four objectives:
    • Make the best product
    • Do not cause any unnecessary harm
    • Businesses use to protect nature
    • Do not abide by the agreement

In each, it is clear what the company's values ​​are and how they are implemented against them.

  1. A quick tip: Consider how your mission statement will grow as your company expands. The mission statement should help the company evolve with the market, not impede internal capabilities to innovate and disrupt. For this reason, make sure you can extrapolate your goals from your mission statement.

3. Formulate your strategy

Once you've created a strong mission statement, you're ready to reorganize your organization with a sustainable business strategy.

When crafting a sustainable business strategy, it is important to ensure that your company remains profitable. You can't help with your case if you can't stay at work. As proven, sustainability efforts may help you become more profitable.

Consider the triple bottom line, which indicates how a company's actions affect profit, people, and the planet. With this framework in mind, you can develop a sustainable business strategy that is also profitable.

Small changes can be the starting point for a big change. For example, does your company leave electricity and heating on overnight, even when there are no employees on-site? Imagine the savings that could be made, in both cost and energy resources, if the last person in the office simply shut them down, or if you used a timer or motion sensor to turn them off automatically after the last person left.

What about consumers willing to pay more for a sustainable product? A study by Unilever found that 33 percent of consumers want to buy from brands that "provide a social or environmental benefit," creating an untapped market opportunity for sustainable goods.

There are many strategies specific to your industry that can increase your operational efficiency while driving social and internal value. Working to build a strong sustainability strategy can help your company and the environment in the long run.

  1. A quickck tip: Need a starting point for crafting your strategy? Consider internal and external opportunities to create value around your mission. Ask your team questions like, "Would our customers pay more for our product if we produced it more sustainably?" or "Can an improved commercial process reduce our emissions?" If the answer to either of these two questions is “yes,” you may have the beginnings of your strategy, while increasing your productivity and profits at the same time.

4. Strategy implementation and results evaluation

Talking about a new drive to do good and do good is one thing, but it's another to take a public stand and pledge measurable and achievable results. With your mission and strategy firmly established, you're ready to take big strides toward achieving your goals.

As you implement your strategy, remember to revisit your process periodically to ensure that your goals, mission, and progress remain the same.

  1. A quick tip: Unsure of where to start? Ask yourself if there are any areas where your assignment could quickly make a big impact. Consider partnering with an organization that has a mission similar to yours. Aligning your tasks can help drive progress quickly. Partnering with an established player can boost your credibility.

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