How to achieve Business Sustainability
Corporate sustainability encompasses the efforts a company makes to sustain its economic activity, considering social and environmental factors, and ensuring responsible resource management. What are the five principles that any company aspiring to achieve business sustainability must adhere to? How can corporate sustainability be achieved? In this regard, organizational culture plays a key role in establishing internal practices for the efficient use of resources, considering all the aforementioned variables. The company must take into account the value chain (inputs, processes, and outputs), and it must also consider the constant evaluation of actions that involve resource expenditures in order to improve and manage them better, thereby maximizing efficiency and, consequently, the company's profitability. Another important aspect concerns how corporate sustainability is communicated and how consumers and clients validate it. When companies successfully communicate their actions toward achieving greater sustainability, consumers can question, accept, and/or support them. In short, developing a sustainable business is no easy task. It requires willpower, talent in business management, and a broad and deep understanding of the environment, allowing us to identify the elements that must be carefully considered during the production process. At GDI, we understand that this is hard work, but little by little we have undertaken the task of implementing the necessary measures to become sustainable, starting internally with our employees in their daily work. We are committed to having a company that is environmentally friendly and responsible towards everything around it. We are the future, and therefore we must comply with everything that safeguards the well-being of the company and the ecosystem.
The power of buying
Also known as green purchasing, the term sustainable purchasing refers to the policy of considering social and environmental factors when selecting a supplier, looking beyond price. In this type of acquisition, materials must meet the needs of the company. It is worth noting that consumers are increasingly choosing companies that prioritize social and environmental responsibility. And in times of technological advancements and social media, they closely monitor companies, even using the internet to express their dissatisfaction with organizational actions they consider unethical, which can negatively affect brand image. BARRIERS AND ADVANTAGES OF SUSTAINABLE PURCHASING It is undeniable that barriers exist to the adoption of sustainable purchasing practices in companies, but these should not be considered an impediment to making these types of purchases and generating advantages for the purchasing company and society in general. Below, we will mention the main obstacles that must be overcome and show how this concept benefits organizations. Barriers to Sustainable Purchasing The main difficulties in implementing a sustainable program are: To overcome these obstacles, the purchasing team must gather information demonstrating the benefits of sustainable procurement for the organization. They must also have a wide range of suppliers who effectively meet the requirements of a sustainable process and uphold the highest standards. Advantages of Sustainable Purchasing Companies worldwide are already investing in the development of sustainable procurement. Beyond the ethical considerations, the benefits drive this choice: Implementing the concept of sustainable procurement requires a strong commitment from procurement professionals. Therefore, at GDI, we seek suppliers with sustainable characteristics so that we can manufacture quality products without harming the planet. We strive to make our garments environmentally friendly, so we seek materials like cotton and linen, working with suppliers who are committed to environmental stewardship. And thanks to that, GDI joined the U.S. Cotton Trust Protocol. At GDI, we also produce sustainable uniforms with materials containing a certain percentage of PET, as well as eco-friendly face masks that reduce the use of disposable masks. At GDI, we are convinced that by implementing these kinds of actions, the world will be more inclusive, improving the quality of life for everyone.
An effective business continuity plan
The COVID-19 outbreak forced business leaders and owners to make short-term decisions to ensure the continuity of their operations; however, these measures had to be modified due to the extended quarantine. Given such significant contingencies, it is crucial that organizations identify the areas of the business that could be most affected and, based on this, develop an effective business continuity plan to help maintain normal operations in three key areas: The first stage involves having a business continuity plan in place, which allows for an understanding of the main risks to operations and the supply chain. Based on this understanding, it will be possible to allocate sufficient teams to address the crisis and then focus on supply chain assessment and risk management. The second stage is essential to determine whether management and corporate governance can make key decisions quickly enough, planning for financial and business scenarios that range from a swift recovery from this situation to a slowdown in growth or a possible global recession. In the short term, risk mitigation actions must be considered for operations and the supply chain, assessing the impact on transportation. In this regard, organizations must ensure communication with their customers and key stakeholders, review and evaluate the impact of talent planning and management, and review potential impacts depending on the sector in which they operate. Finally, in a third stage, it will be necessary to continue building an agile global supply chain with full visibility of all its links, as well as understand and implement digital and process automation to mitigate the consequences of potential disruptions that, as we have seen, can affect companies due to external factors, developing and implementing enhanced risk management practices. At GDI, we had to adapt and create strategies to continue our work and garment production. We implemented improved strategies and communication with our customers and suppliers to establish raw material receiving times and realistic delivery times. We always considered the situation and daily changes to avoid jeopardizing operations and experiencing a downturn. At GDI we are constantly seeking better strategies to determine what actions to take in future situations.