Advocating sustainability allows businesses to align deeply with their missions and engage customers on a more meaningful level. According to a 2011 study by MIT, sustainability Is now a permanent part of 70% of corporate agendas. Most companies now also consider green practices to be vital to remaining competitive and many declare that these practices are contributing to profits. There are a few of the many reasons why managers should consider using sustainable marketing, other than costs.
The following are reasons why managers should consider sustainable marketing: reduced risk, green product demand, consumer engagement, attracting talent, attracting investors. Sustainable marketing reduces risks for managers. It reduces risks for managers, because conservation of resources will strengthen the ecosystems that provide the natural resources that most corporations depend on to conduct business. This in the long-run reduces the risk of corporations losing business.
The recommendation for managers would be to push towards sustainable marketing because that will keep their corporation thriving for a longer period of time. This would lead managers to Inform their employees how Important the corporation's Impact on the environment Is. Consumer engagement Is also important for managers to consider, if they choose to move towards sustainable marketing. Managers and corporations have an obligation to be socially responsible. Being environmentally friendly Is an Important part of social responsibility.
Corporations have an obligation to the community in which they operate, to not harm the environment, which could potentially harm the health of the community. Companies like Cataracts use sustainable marketing as their competitive advantage, by obtaining more customers through their community involvement and their environmental friendly habits. Green practices enhance public Image, community relations and goodwill. Attracting talent is also a reason for managers to consider sustainable marketing. In future years it is most likely that companies will have no hooch but to partake in sustainable marketing.
Environmentally-conscious business practices help attract and retain the best employees by Increasing employee satisfaction and pride. If employees feel that the corporation they work for is environmentally conscious and concerned with the surrounding community, they will have more corporate loyalty, which leads to fewer turnovers, which essentially leads to lower costs in the long run for corporations. Socially and environmentally responsible assets have risen In recent years; this growth has led to a greater.