8 Benefits of Sustainability in Business 1. Here are eight benefits of a sustainable business strategy you can use when making the case to your internal team. Leading with purpose can positively impact both the planet and your business’s financials. “There’s good reason to believe that solving the world’s problems presents trillions of dollars’ worth of economic opportunity,” says Harvard Business School Professor Rebecca Henderson in the online course Sustainable Business Strategy. It’s important to not think of sustainability initiatives as a financial trade-off, but rather, as a wise financial strategy. In other words, in addition to striving to succeed financially, socially responsible companies commit to measuring success through their impact on people-employees, customers, and society at large-and the environment. The triple bottom line can be described as the “three Ps”: people, the planet, and profit. Whereas companies typically focus on the bottom line, or generating profit, socially responsible corporations focus on the triple bottom line. DOWNLOAD NOWĬorporate Social Responsibility and the Triple Bottom LineĬorporate social responsibility (CSR) is a business model in which for-profit companies seek to create social and environmental benefits while pursuing organizational goals. Here are key terms to use to frame your discussion, several ways sustainable business practices can pay off financially, and tools to leverage when pitching sustainability to stakeholders.įree E-Book: How to Be a Purpose-Driven, Global Business ProfessionalĪccess your free e-book today. How can you make the business case for sustainable practices to skeptical decision-makers in your organization? Some, however, may be skeptical of the claim that a business can do well by doing good.
Once thought to be opposing goals, sustainability and financial success now go hand-in-hand for many businesses.
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