One of the largest mistakes that many businesses make is viewing sustainability as a COST, instead of looking at the VALUE it can provide.
It’s no longer a question of whether your business can afford to go green, its about whether you can afford not to. So….what is sustainable value, and where does it come from?
Sustainable business practices add value and compliment the four quadrants of the traditional ‘value matrix’: Present Internal, Present External, Future Internal, and Future External Value.
Let’s look at the ways that applying a sustainability lens can boost value in these four quadrants.
Present Internal Value: Sustainable business practices provide present internal value by engaging employees to reduce waste and increase efficiency, which can drastically reduce operating costs and energize your workforce.
Present External Value: Engaging with your value chain to develop product stewardship and sustainably increase the life of your products will increase your business’s reputation and legitimacy.
Future Internal Value: Sustainable business planning drives innovation and can reposition your business, allowing you to identify and develop the products, services, and skills that will be required in a resource-constrained world.
Future External Value: When planning a future path and communicating your vision with stakeholders and clients, a sustainable business defines a clear future path for itself. Achieving a clear sustainability plan facilitates competitive imagination, and clarifies organizational priorities. This, in turn, provides access to new markets and satisfies unmet needs, while increasing operational efficiency.
Using this framework can help you determine where and how your business is best posed to take action and create new value!
Photo Credit: youtube.com/watch?v=jpeS9lFDHpY