How does sustainability help in competitive existence?

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How does sustainability help in competitive existence?

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  • 17 Apr, 2019

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The sustainability measures of the company must be able to define and quantify the benefits of the business model, which is necessary to be identified to provide a competitive benefit to the company. The implementation of the business model with high sustainability provides the following benefits to the company:
• It provides a license to operate the business with high speed in the market.
• Sustainable operations provide economies to the business.
• The better reputation or goodwill of the company provides long term benefit to the company.
• The sustainable operations will also engage employees of the company to contribute to the common goal.

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I would say, Sustainability refers to the integration and intersection of social, environmental and economic responsibilities of the company. The company that is operating its business on recycling of renewable resources and shift the organizational design accordingly to support culture and communication infrastructure of the company. it will provide new opportunities to the company through technology and processes.

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Sustainability of the business consider the factors of operations that improve the brand image of the company through "doing good" is the biggest pillar of promotions or advertisement campaign of the company. The sustainable practices of the company provide benefits regarding following measures of the company:
• It builds goodwill of the company in the market.
• It increases the productivity of the company.
• The usage of renewable resources provides economies to companies.
• It provides the ability to the company to comply with regulations.
• The sustainable operations of the company attract more employees and investors.
• It reduces wastages and provides higher satisfaction to the shareholders.
Thus, the sustainability of the company provides a competitive advantage to the company.

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