"Creating a strong business and building a better world are not conflicting goals - they are both essential ingredients for long-term success." - Bill Ford
According to research, 70% of Americans believe it's either 'somewhat' or 'very important' for companies to make the world a better place. In another study, 40% of consumers said that they seek purposeful brands and trust brands to act in the best interest of society. Both these findings highlight that consumers expect businesses to follow sustainable practices. Concerned about the condition of the planet due to global warming, pollution, and other issues and touched by the issues being faced by society, consumers want brands to follow conscious business practices. They don't even mind paying higher prices to support brands that follow sustainable practices.
Given that, Conscious Business is your way to surviving in the highly competitive world of business. By following conscious business practices, you can gain a huge competitive advantage over your competitors. You can win the hearts of your customers, earn their loyalty and also captivate new customers due to your conscious business practices. By now, we have explored the benefits of conscious business with regard to customers, but conscious business practices are also beneficial with regard to employees.
According to research conducted by Harvard Business School, employees who have a chance to give to charities through their workplaces are happier than those who do not. Additionally, in Deloitte's Millennial Survey, 50% of millennials say that they would take a pay cut to find work that matches their values and gives them a higher sense of purpose.
Having said that, employees are happier working for companies that follow conscious business practices.
As we have seen from the above-mentioned statistics, conscious business is preferred by both consumers and employees. Hence, it is your key to survival in the treacherous world of business. You can gain a competitive advantage over your customers by following conscious business practices and also prevent yourself from suffering from problems such as high employee turnover and employee disengagement. As this is a good cause therefore it will also help to prevent employee burnout.
So, you should think about evolving into a conscious business. You should start this journey right away to reap enormous benefits in the near future. Do you need some conscious business examples to get inspired from? We sense that your answer is a big 'yes'. So, let's discuss some conscious business examples:
5 astounding conscious business examples
Patagonia started as a small business a few years ago but today it has emerged as one of the leading sports apparel brands in the world. This sports apparel brand not only enjoys the stature of being one of the most profitable companies but it is also one of the most conscious businesses in the world. With its massive focus on the health and well-being of the planet, the company has captivated the hearts of masses of people. The company takes pride in using sustainable materials such as cotton and wool.
Additionally, the company also pays 1% of its total income as a self-imposed Earth tax. This money is dedicated to non-profit organizations working for the welfare of our air, land, and water around the globe. Moreover, the company also looks after its employees in the best way. By doing so, the organization tends to help the people belonging to the society. If you also aspire to evolve into a conscious business, you should try to study the efforts of this company in detail as it is one of the most socially responsible companies in the world.
Dr. Bronner's is also a certified B corporation known for having the highest social and environmental standards. The company produces organic soaps, balms, and cleaners. The best thing about this company is that it doesn't use any synthetic agents. Moreover, the company also helps its employees engage in charitable initiatives by giving every employee $100 to donate to a charitable organization of their choice. They have to choose this organization out of the five organizations nominated by the entire staff of the company. It also participates in organ donation initiatives, fights against slavery, and shoulders initiatives to uplift young women belonging to underprevileged sections of society.
All in all, Dr. Bronner's is doing the best it can to serve the planet and people. If you have felt inspired after reading about Dr. Bronner's efforts as a conscious business, you can also follow in its footsteps. You can also begin by conducting an assessment of your product development strategy and see where you can bring in sustainability. Begin at a smaller level and keep growing your sustainability efforts and one day you'll find yourself among the list of top conscious businesses on the planet.
Seventh Generation is an American company that is known for selling eco-friendly cleaning products such as laundry detergent, dish soap, and cleaning paper. The company takes pride in manufacturing all these products from plant-based products. It derived its name from its vision to make this planet a healthy, sustainable and, equitable place for the next seven generations. The company follows this vision by heart. They don't even add synthetic fragrances or chemicals to their products. Due to all these efforts that Seventh Generation puts in for the well-being of the planet, its environment, and future generations, it has become a certified B Corporation. This implies that the company has been certified to have the highest social and environmental standards.
Those who are extremely concerned about the planet and its well-being, prefer to purchase the environmentally friendly cleaning products produced by this company. They don't believe in cleaning their homes and destroying the planet. Hence, through its Corporate Social Responsibility endeavors, the company has won a huge customer base. If you also aspire to follow in the footsteps of this socially responsible business, you should set out on the journey of exploring the Corporate Social Responsibility reports of this esteemed organization.
Who doesn't know the tech giant Google? It is one of the most popular companies in the world. This tech giant with an enormous reputation across the globe is also one of the most conscious business organizations in the world. There are multitudinous Corporate Social Responsibility initiatives that this tech giant shoulders. It has been carbon neutral since 2007 and endeavors to be carbon neutral by 2030. It proudly says that it does everything with the Earth in mind. The company also takes pride in being the largest annual corporate purchaser of renewable energy.
Moreover, Google is also working on reducing, replenishing, and restoring water across its offices and data centers. The company intends to replenish more water than it consumes by 2030. It is also running many initiatives to protect fisheries. With all these Corporate Social Responsibility endeavors Google has emerged as a big inspiration for companies aspiring to evolve into conscious businesses.
Plastic usage and dumping have evolved as one of the major concerns for us. As plastics are non-biodegradable they take many years to decompose. A single plastic bottle takes around 450 years to decompose. Imagine that! Today, we generate a lot of plastic waste. No wonder, ocean beds, and most landfills are filled with plastic waste. Plastic waste is one of the leading causes of marine life disturbances and can also lead to wildlife poisoning as often animals and marine species eat plastic waste. Additionally, plastic bottles with BPA are harmful to our health.
Being concerned about the huge damages caused by plastic waste to the planet, people, wildlife, and marine life, Klean Kanteen introduced the first stainless steel, BPA-free water bottles, and canisters. Additionally, the company is also working to switch to complete renewable energy usage soon. With these efforts to support the planet and its inhabitants, Klean Kanteen has earned lots of love from people. No wonder, the company enjoys a huge customer base. If you are still at the startup stage, you can also think about ways to link your business and products with sustainability. It will only benefit you in the long run.
As discussed in the initial section of the blog, being a conscious business is the key to survival in the treacherous business world. Through your socially responsible business practices, you can not only win the hearts of the consumers and earn their loyalty but you can also captivate your employees. Today, professionals are seeking to connect with a higher purpose in their lives rather than only focusing on money. Hence, evolving into a conscious business will only do good for you. If you don't yet know where to start, the above-mentioned conscious business examples will beacon you on the right path. You can follow in the footsteps of these socially responsible businesses and soon become one of them too.