The Change is Here
In recent years, it is becoming more and more evident that newly established brands and startups try to set up their manufacturing processes so that they are sustainable from the very beginning. This means that existing businesses, already experienced in the business arena, have to adapt to the changing requirements and re-design their approach to doing business in order to remain competitive and thriving.
Sustainability has long been a hot topic in the business world, and it is no secret “going green” has become a trend that helps companies to attract more customers and increase the sales. Sometimes companies only resort to a so-called “window-dressing” technique, a manipulation to improve the company’s appearance based on misleading statements that are not completely true. However, marketing that is not backed by real facts and actions, is likely to be ineffective or, worse, may negatively affect the company’s reputation, as customers become more conscious in choosing products and services they buy and are aware of their power to influence the company’s image.
Modern consumers now feel the need for change and realise they are the ones who can induce that change. That is why companies need to reckon with the opinions of their customers, the community in which they operate, and with the public in general. This leads to constant pressure coming from consumers, along with community and environment pressures for enhanced environmental performance and the quality rise of products, yet, at the same time, there is also the pressure for improved financial results from investors and shareholders. And this responsibility that falls on companies to various stakeholders is a complex balancing game: businesses should be able to skilfully allocate their economic, social, and environmental resources.
Good for All
Rising expectations have pushed businesses to make sustainable manufacturing a part of their strategies, and the desire to establish sustainable manufacturing is not always induced by virtue for a better world, but understandably has a more pragmatic basis. There is no better way to describe sustainable manufacturing as creating products through economically-sound processes that at the same time minimise negative environmental impacts, help to save natural resources while bringing a positive social value. Sustainable manufacturing is called sustainable because it is not just good for the planet. In fact, it creates a win-win situation as when combined together with improved social and environmental performance, a company benefits from cost-effective solutions.
Investing in the Future
It should be noted that sustainable solutions sometimes require financial contribution and may bring additional costs to a company at the start of the transition. This transition should not be seen as a way of gaining instant profit, but rather not losing current positions, as well as a way of reducing risks and aiming at long-term savings. Practising sustainable manufacturing by, for example, switching to more efficient equipment means enhanced safety of the employees and increased quality of the products, lowered production time, energy and material consumption, and, in turn, a reduced amount of waste. In addition, growing environmental and social concerns from the government and the general public provokes increasing rigorous legislation that imposes even more pressure on businesses. A company’s compliance with such legislation leads to cost savings thanks to the optimisation of production lines and supply chains and as a result, the avoidance of environmental proceedings and fines. Moreover, switching to more sustainable manufacturing practices can increase opportunities for receiving grants from the government and attract new investors.
Sustainable manufacturing is not just a marketing tool, but is indeed an effective way to remain the top player on all fronts and consolidate the financial statements, while mitigating the environmental burden of production processes and strengthening the company’s reputation in the eyes of shareholders, employees, authorities, and society as a whole. Working in a team of like-minded people at Caddyboo, I can see how all three pillars of sustainability (social, environmental, economic) can be considered in the manufacturing phase of the product and successfully implemented in the business development strategy of the company. This approach facilitates our team to elaborate on the ongoing processes, look for sustainable collaborators, and come up with creative ideas on how to further improve our products’ performance. It is also valuable that our effort generates genuine interest in sustainability as a whole and motivates individuals to step up their game and do what they can’t.
Author: Aleksandra NatcvetovaCaddyboo Team