What does it mean to be a “sustainable business?” The term seems ubiquitous, but its definition is often unclear. A sustainable business is one that strives for success in more than just the economic sense. It broadens its definition of success to include the so-called “triple bottom line” – social, economic and environmental. Three conditions, in general, must be met for a business to be considered sustainable.
Firstly, that compound bottom line of sustainability must be incorporated into the operational ethos. Every decision that the company makes must consider the impact not only on profit, but also the world around it. Companies that follow this tenet tend to make a stand on social justice issues like equal pay, living wage, and diversity in the workplace, as well as implementing green practices.
The second aspect of a sustainable business is that it must supply environmentally friendly products or services that replace non-green counterparts. An example of this would be a company that manufactures hand dryers for restrooms, a green alternative to wasteful paper products.
The third condition is that the company must be greener than their traditional competition. In some industries, a certain amount of waste and emissions is unavoidable, but it’s a relative rather than absolute measure. If a company can do the same work while producing fewer harmful byproducts than its competitors, it will meet this criterion.
Becoming a sustainable business is not only noble but also attainable for companies of all sizes. We at MaintenX believe in sustainability, and want to encourage others to do the same. Engage us to audit all your systems; we’ll recommend solutions that’ll save you time and money, while making you run leaner and greener. To learn more about the services we offer, please contact us anytime!
