As the global marketplace continues to grow, businesses are faced with the challenge of competing in an increasingly competitive environment. To stay ahead of the rest, many companies are putting environmental protection high on their list of priorities. Their efforts are not only good for the environment but also have a direct impact on their bottom line. The goal is to have a positive social and economic impact that benefits society while generating profit. Follow these 4 steps to see how you can create your own environmental strategy to create positive change.
Learn About Your Company’s Current Environmental Activities
What are your company’s current environmental goals? Do you have a formal plan to accomplish those goals? The easiest way to answer this question is to conduct an audit of the company’s current environmental efforts and goals. If you want to know how your company is performing, analyze key areas. From greenhouse gas emissions to the company’s workplace health and safety program, it is important to know how your business performs, in order to raise the bar. If you do not know where your business stands, then a performance audit will tell you where you stand.
Create An Action Plan Based On Your Findings
For your environmental strategy to be successful, it needs to be actionable. It needs to focus on business-wide impact and have a strong business case. Once you have done that, you can begin looking at the opportunities within your company to create change.
The first step to create a strategy is to be clear on your goals. If you want to encourage sustainable behaviour, there are tools that will help you identify the impacts of your company’s practices and help you benchmark with similar organisations. It’s also important to ensure that all your stakeholders are aware of your goals.
Once you have established your goals, you can review your current practices to identify the barriers to change.
Once you have your overall vision in place, you’re ready to identify the necessary steps needed to reach your goals. First, take time to establish the goals for the program. Some businesses may have corporate sustainability goals to conserve resources, reduce the number of greenhouse gases produced, and create a more sustainable product or service. You can find out more about your company’s goals by looking at the information found on your website and in your annual report.
Once you have your goals in place, it’s time to formulate your action plan. As your ideas come together, it’s important to make sure you’re not just pursuing the ideal that will accomplish your goals. If you’re not incorporating the proper efforts and plans, you’ll come up short and waste your time, energy, and money.
Assess The Risks And Opportunities Of Your Strategy
Establishing an environmental strategy means evaluating the potential financial, social, and environmental impacts of your company’s practices. Some of the most significant opportunities lie in strategic collaborations with other companies. How can your company grow by being part of a large-scale initiative? There are also many things that can go wrong. For example, if you support an initiative that causes emissions to rise, it could affect your bottom line. To avoid a situation where you face financial and/or regulatory penalties, you have to identify these potential pitfalls.
Once you’ve established your strategy, take your efforts to the next level by adding a systemic approach.
Most businesses use an environmental strategy that is built around waste reduction and conservation in order to avoid any significant financial impact. The risks of implementing such a strategy usually involve the loss of a competitive edge. Re-branding, shifting pricing, and refocusing attention elsewhere could cause irreparable damage to a business’ reputation and future profitability. Therefore, it is important to assess all potential risks before implementing a strategy.
Once your potential risks and benefits are assessed, it is time to map out your strategy. Ideally, your strategy should include measurable targets that can provide you with insight into your efforts and allow you to continually evaluate and refine your environmental program.
Implement The Plan To Make Change Happen
The fourth step is to become a responsible business and take ownership of creating positive change in the world. There are many ways that you can help your business improve in this area. For example, these simple steps can help you make an impact in the environment and make your business even more profitable in the process:
- Change your products and services so that they meet the most stringent environmental standards and implement sustainable practices.
- Choose to work with manufacturers of wood, steel, and other materials that use recycled and responsibly sourced materials in your business.
- Develop a business plan with specific measurable goals and expectations, and determine what your strengths and weaknesses are in this area.
- Empower your employees to make decisions based on their core values by holding annual employee engagement activities. Encourage your team to take action by telling them what you expect.
- Pick up the trash when you visit a fast-food restaurant. If you have an empty popcorn cart, have a clerk take it back into the kitchen for recycling. If you have a cardboard cart, have a clerk take it back into the packaging room to recycle cardboard. Have your employees talk to customers about their waste and make sure they return their shopping bags. Remember, you are ultimately in business to make a profit. The purpose of your company is to make money. It’s not to create a win-win situation.
Conclusion
Overcoming your environmental issues will not happen overnight. With all of the environmental changes and events that have taken place over the year, you can see that a lot is happening at once.
Maintaining and growing a company is a lot of work, and it doesn’t get easier as your company grows. However, by implementing a proactive environmental strategy, you can prepare your company for your future success and achieve a sustainable future.
