Towards Sustainability: 4 Measures for Indian Businesses

Few businesses tend to overlook the sustainability neglecting its importance. But, sustainability has a massive impact on the environment which ultimately affects the businesses as well. Hence, certain companies consider the socio-environmental contributions as a vital part of their business. For a company to be sustainable, it has to regard the social and environmental factors just as its financial issues. India cannot proceed further on the business front without accepting sustainability; thus, the country also holds the honor to be the first to mandate CSR. So let's glace through a few tips to build sustainable businesses in India.     

Welcome Holistic Sustainability

The companies could enhance their overall financial status by going green, but this is not extensively implemented in India. Certain leading companies have immensely progressed in terms of sustainability. They have taken initiatives to introduce recycling campaigns to bring changes in society. Furthermore, the companies attempt has paved the way for green supply chains. They have also seeded the idea of sustainability in smaller companies. However, at present only big companies focus on the CSR activities in India. 

Accepting the Change

Change is an unstoppable event in every aspect of life. This applies to business as well; the transformation also signifies the growth. Thus, every organization must be open to accept the changes brought in the business as time progresses. Also, without implementing new innovative ideas, the company's strategies would be stagnant and monotonous.

Financial Markets Support

The financial markets are taking measure to promote sustainability, but these green lendings are smaller when compared to other lending offered. Thus, the Indian financial markets have to promote the organizations' proceeding towards sustainability measures.

Setup Value Proposition 

A proper value proposition can easily elevate a business over its competitors. But, according to sources, only about 2.2 percent of companies have created a proper value proposition. The improper value proposition could just divert the customers to the company's rival, as the value proportion was not simple enough for the customers to understand that the company is just providing what they require.

These measures would not cost much to the organizations as well as the financial institutions but, would generate a tremendous impact on society. Moreover, these would benefit the companies in the longer run to yield more profit.     

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