Sustainable, ethical practices go a long way in determining how mindful your business is and how it fares in this competitive, customer-driven ecosystem.
The triple bottom line (TBL) of profit, people and planet not news. In fact, it has been around since 1994, i.e. for over 25 years. TBL’s origin lies in the idea that businesses pay attention to whatever it is that they measure and hence, accountability related to factors beyond just profit should be in place. The concept is taught in most business classes today and is featured in numerous books, research papers and blogs.
However, practices that should’ve been commonplace by now, such as sustainability, ethics and mindfulness, still aren’t. Now more than ever, we come across evidence of the same — be it environment, political, social or cultural. All of these instances have some sort of connection to the business ecosystem, and why wouldn’t they? We’re surrounded by businesses — we work with them and consume the products and services they offer in a never-ending cycle.
So why is it that businesses, large and small organizations alike, still debate whether it’s worth it to be sustainable, ethical and mindful?
Surely, there have been huge improvements since the olden days — conversations have sprung up in unlikely spaces and reforms have taken place. Our point is that the improvements are nowhere near enough.
Millennials and Gen Z are now uber-aware about everything — from their consumption habits and financial health to mental health issues and environmental degradation, plus everything in between. Not that being mindful of how to operate needs a motive, but to keep up with their customers, businesses need to do better.
Being better might mean different things for different businesses, such as paying attention to the emotional and mental health of their employees, choosing to work with manufacturers and suppliers that stay far away from exploitative labour, being mindful of the language they use for communicating with their customers or mixing all of them to create their unique vision. Here’s a plan you can to discover how your business can be more mindful:
What does ‘better’ mean to you and your business?
Understand how goals related to sustainability, ethics and mindfulness fit into your business model. It’ll help you come up with unique ways to include these factors into your business’ day-to-day practices.
Start small and simple.
Once you’ve identified areas, processes or offerings that you can improve, start implementing the changes. They don’t have to be drastic, but they need to be followed through. A rule of thumb to follow will be focusing on the processes that your business impacts the most — such as daily interactions with stakeholders and customers.
Make it a goal to consistently improve.
Pen down 2-3 processes that you can improve and keep refining them until you’ve reached your goals related to sustainability, ethics and mindfulness.
Talk and have discussions with the community you’re serving.
Feedback is key to improving. One way to get feedback is talking to your business’ community, including current and potential customers, other businesses you partner with and any other groups that can provide you insights from an outsider’s perspective.
Help out when you can.
Many groups around us can use all the help they need — be it via your services, products or managerial and creative expertise.
Mystique strongly believes that for brands to truly shine, they need to work and stand for a vision that doesn’t just include the TBL but keeps it in the headlines.
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