In the long run demand for sustainability will only increase, leading to a more sustainable economy. Research by MIT and BCG shows that the number of companies that report profits from a sustainable approach has grown to 37%.
Although this change just started, it is necessary to start now experimenting with business models and involving the value chain. Because this transformation is so fundamental that it asks for a step-by-step approach.
From cost to opportunity
Most important step is to see sustainability both as a necessity and as an opportunity. As long as it only concentrates on the necessary compliance, sustainability will stay a cost burden for your company. However, once the focus becomes positive, it opens up new opportunities. These opportunities can lead to reconsidering who your target clients are, what the cost model is, which channels are used and what resources you need.
More sustainable practices might also ask for a considerable investment now, but can lead to lower costs and higher revenues in the longer run. Or you can start will smaller changes that generate savings, which can be re-invested in sustainable improvements. Collaboration along the value chain with clients and suppliers, and sharing investments and creating new business models, can be a third option.
Trusted market leader
If you focus on the short term and limit your efforts to activities that pay-off now, than you might miss the fundamental shift. If you want to be a trusted market leader, you have to start adopting a more sustainable approach, learn from your actions and share your goals and results.