Traditional businesses have been set up to make profits no matter the cost. However, recent research shows that companies with the “business as usual strategy” have less than a 50% chance of success. This is due to the changing business dynamics and inclination toward ethical business operations.
Most businesses today are concerned about environmental and social factors while generating profits for investors. Below are some examples of how companies can make profits while showing care about humankind. Read on!
The Role of Investors
It is worth noting that making the world a better place lies more in the hands of investors. This is because they have the power to influence how a company operates.
And that’s why no business wants to lose investment dollars from investors.
Therefore, investors can positively influence companies’ operations if they choose to invest their money in companies whose environmental preservation approaches focus on a more environmentally sound future.
Companies Can Become More Eco-Friendly
While it is never the purpose of businesses to have a negative impact on humankind, being radical toward the policies of the planet and people hurts more than it helps. Companies can damage the environment in the following ways:
- Air pollution
- Global warming
- Health threats
On the bright side, industry leaders are building factories that tend to be friendlier to the environment. Hence, this creates a conducive work environment for their workers. Industry leaders are saving the environment by incorporating green building standards with sunnier spaces, self-sufficiency, and healthier air.
Most factories are now producing energy and reusing water and materials from sustainable sources to show they care about humankind. The most appealing thing about this process is that it costs less than the traditional model by saving more money on energy. In return, workers become more productive, and they produce better-quality products.
Allow Remote Work
The good thing about working remotely is that it attracts employees on multiple levels. More and more people are now working from home as companies continue to state a clear preference for remote work arrangements. Telecommuting also comes with a myriad of environmental benefits.
And for this reason, it would be prudent for investors to invest in companies that allow telecommuting. For instance, the energy used in the workplace is minimized. Telecommuting also saves on costs and decreases business carbon footprints and commuter traffic.
Switch To LED Bulbs
Investors should also invest in companies that save energy. One way that companies can reduce their energy consumption is by switching to LED bulbs. There are numerous varieties of light bulbs that companies can purchase on the market today.
If you want to buy an LED light bulb, you will be surprised at how complicated the choices have become. Recently the federal government mandated that all light bulbs be more energy efficient. By using LED light bulbs, companies can conserve energy, cut utility bills, and protect the environment.
Invest Ethically To Care For Humanity
Undoubtedly, there is significant change occurring in the business world currently. Businesses are raising the bar on how they conduct their operations by tapping into the emotions of people increasingly concerned about the environment. Making profits while showing care about humankind is a win-win situation for everyone.