Impact of sustainable development on marketing tools of modern organizations
Authored by Tribhuwan Joshi – Lead, Brand Communication, PR & CSR Fujifilm India
In the current time, sustainability is increasingly becoming a critical part of the business strategy. Businesses across industries are looking at it as more than just a new way of marketing that will change their trajectory forever. This new addition is being made keeping the major issue around the environment in mind, which is not only affecting the well-being of the people but also hampering the economic development throughout the world.
Each year on 5th June we commemorate World Environment Day to spread awareness about conserving our mother Nature as well as burning issues such as climate change, water pollution, air pollution, overpopulation, global warming, and every other issue affecting our environment. With this year’s theme of ‘Economic Restoration’, we need to come together to take measures to Reimagine, Recreate and Restore. An ‘Ecosystem restoration’ refers to supporting the recovery of ecosystems that have been degraded or destroyed, as well as conserving the ecosystems that are still intact. With the recent restrictions in movement and slowdown of social and economic activities implemented due to Covid -19, air quality has improved in many cities with a reduction in water pollution in different parts of the world. However, there still ample need and requirement for brands to contribute to the sustainable development of society by putting their corporate philosophy into practice through sincere and fair business activities.
A strong sustainability strategy of a company can severely affect the people and environment in which it operates. It is about continuity, adopting behaviours and practices to ensure that the planet is inhabitable, and resources are available for future generations. To simplify it, sustainable marketing is about longevity, swapping short-term gain for long-term success. The below three aspects can help any company manage strategies for sustainable growth -
- Endeavor to understand global as well as local environmental and social issues and create value to address these issues through the business activities
- Continuously evaluate the environmental and social impact of the business activities and strive to improve the performance while increasing our positive impact on society
- Constantly reassess whether the set activities are responding adequately to the demands and expectations of society through proactive stakeholder engagement with stakeholders
As a brand, we should focus on measures to resolve social issues through our business activities, including the launch of innovative technologies, products, and services, and aim to be a company that can make a greater contribution to creating a sustainable society. The priority areas redefined for us are both "solving social issues through business activities" and "reducing the negative impact of our business activities." As a part of our Sustainable Value Plan 2030, we have defined six key pillars mentioned below-
- Environment - Focus on reducing environmental impact and contribute to the resolution of environmental issues
Since the Industrial Revolution, we have experienced large improvements in our lives, but at the same time, this has caused a range of environmental issues. Continuing rises in sea levels and extreme weather resulting from climate change, depletion of our land resources, destruction of our forests, water pollution, and depletion of water resources and changes in our ecosystems are taking place on a global scale. We must take various actions to resolve both the issues resulting from our economic activities and environmental issues to guarantee sustainable development in the future
- Health - Create a healthy society through the process of prevention, diagnosis, and treatment in healthcare
During the COVID-19 pandemic across the world, it has become clearer that many people cannot receive sufficient treatment for the disease, not only in countries with less developed medical infrastructures but also in advanced countries. Therefore, UHC requires the development of medical infrastructure that makes healthcare and medical services readily available to all, improvement in medical care quality, and society that places top priority on health, with emphasis on disease prevention and early detection
- Daily Life - Support the tangible and intangible aspects of social infrastructure in people's lives through various products, services, and technologies
As industrial and economic development proceeds urbanization, our lives have become more convenient and comfortable. At the same time, however, stress and a sense of isolation from society have surfaced as serious issues. The speed in the spread of information has created new sources of entertainment and services, but at the same time has generated anxiety and risk as well. Because of the global restraints imposed on daily activities with the spread of COVID-19, face-to-face exchanges between people are diminishing. The quality of communication is changing along with these circumstances. To build a society that is both sound and sustainable, we must build infrastructure and an environment that will enable everyone to live with a feeling of security and safety and develop communication methods that provide mental support and a sense of fulfillment in life
- Work Style - Promote social change where every person is motivated in the workplace through extending in-house work style reforms
With the ever-increasing competition amid globalization and technological innovation, a company has to offer a work environment where individuals can exert their capabilities and creativity to the fullest extent and have greater satisfaction in their job. This is the way for a company to grow constantly—by streamlining the business and fully utilizing diverse human resources. To this end, it is indispensable for us to build a system that realizes a new way of working and delivers a communication environment free from limitations of time, location, language, gender, age, or disability. We must also promote various work styles for employees to choose to meet the needs of their lifestyle and life stage changes. The COVID-19 pandemic rapidly made remote working more commonplace. Along with this, it has presented issues related to communicating with each other, such as experiencing anxiety or loneliness through working alone at home
- Supply Chain - Strengthen CSR foundations across the entire supply chain including factors of the environment, ethics, and human rights
In recent times, the depletion of agricultural, marine, and mineral resources is now of great concern as consumption of resources expands rapidly to keep pace with the expansion of the global population and economic growth. In addition, environmental destruction associated with new land development and labor exploitation issues, including harsh working environments and overwork, are becoming social issues. Against this backdrop, corporations are now required to build sustainable supply chains from the viewpoint of the environment, ethics, and human rights so that they can maintain a sustainable manufacturing process to provide products and services
- Governance - Improve and maintain governance structures by further disseminating an open, fair, and clear corporate culture
To continue to be a valued member of society and to grow, the company must meet the expectations of its various stakeholders and win the trust of society. To fulfill its social responsibilities and promote sustainable growth and long-term improvement incorporate value, the company must conduct its business activities under the social code of conduct, with an emphasis on transparency and fairness. It is important to improve corporate governance, which is essential for swift and bold decision-making, and implement measures that lead to corporate growth and improvement in corporate value alongside changes in the business environment
Restoring the entire ecosystem is not an easy task, therefore demands a collaborative approach involving all key stakeholders like Governments, conservationists, financiers, and the General Public to identify the barriers to restoration and drive grassroots actions. This World Environment Day lets strive to resolve social issues through business activities and contribute to the realization of a sustainable society.
DISCLAIMER: The views expressed are solely of the author and Adgully.com does not necessarily subscribe to it.