In 2016, the Harvard Business Review outlined 6 ways that companies who enact smart sustainable business practices outperform their competitors. The article entitled, "The Comprehensive Business Case for Sustainability," cites academic research and corporate case studies to demonstrate that, "embedded sustainability efforts clearly result in a positive impact on business performance."
To "create a sustainability business case for the 21st century corporate executive" the article focuses on 6 key areas of measurable business performance:
"Creates value for all stakeholders [not just shareholders], including employees, shareholders, supply chains, civil society, and the planet.
Improves risk management within supply chains and better protects against "natural disasters, civil conflict, climate change, water scarcity, and poor labor conditions."
Fosters innovation. "Redesigning products to meet environmental standards or social needs offers new business opportunities."
Improves financial performance, as "companies are realizing significant cost savings through environmental sustainability-related operational efficiencies," further leading investors to value sustainable companies more highly.
Builds customer loyalty as, "today’s consumers expect more transparency, honesty, and tangible global impact from companies and can choose from a [variety] of sustainable, competitively priced, high quality products.
Attracts and keeps more engaged employees, as "21st century employees are focusing more on mission, purpose, and work-life balance."
Read the article for case studies on what steps major multi-national companies like Unilever, Nike, Coca-Cola and 3M have taken to improve their bottom line through sustainable business practices. And contact us to learn how we can help transform your apparel manufacturing business into one that's positive for all stakeholders - from your shareholders to the planet.