Benefits of Business from Environmentally Sustainable Practices Report

This report delves into the advantages of businesses adopting environmentally sustainable practices. It begins with an introduction to environmental sustainability and its importance, followed by an examination of eco-friendly consumer behavior and how it influences purchasing decisions. The report highlights the tangible benefits for businesses, such as cost reduction, customer attraction, and enhanced sustainability. It provides real-world examples, including case studies of Lyft and Patagonia, to illustrate the positive impacts of these practices. Furthermore, the report outlines actionable strategies for ensuring sustainable business practices, such as energy conservation, choosing eco-friendly partners, going paperless, and promoting recycling and reuse. The paper also includes a reflective writing section on the lessons learned, emphasizing the significance of environmental sustainability for business success and personal development. Finally, a personal development plan is presented, focusing on skills like decision-making, technical expertise, analytical abilities, and management skills, all geared towards fostering environmentally conscious business practices. The report concludes by reiterating the crucial role of sustainability in achieving a competitive advantage and ensuring long-term business viability.

Benefits of Business from Adopting Environmentally
Sustainable Business Practices

Table of Contents
Introduction......................................................................................................................................1
PART 1 – REPORT.........................................................................................................................2
Introduction..................................................................................................................................2
Eco-Friendly Consumer Behavior...............................................................................................2
The Benefit of Business from Environmentally Sustainable Practice.........................................3
Business Benefits from environmentally sustainable business practice......................................4
Way of ensuring Sustainable Business Practice to get Benefits..................................................4
Conclusion...................................................................................................................................5
PART 2 – REFLECTIVE WRITING..............................................................................................6
PART 3 - PERSONAL DEVELOPMENT PLAN..........................................................................7
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

Introduction
Environmental sustainability requires taking responsibility for preserving natural resources and
safeguarding the world's ecosystems to advance health and well-being both today and in the
future (Patel, 2021). Because so many environmental acts have long-lasting effects,
environmental sustainability must also have a forward-looking focus. By acting in the best
interests of the local and global environment, a green business supports the community and
economy that depend on a healthy planet. This paper demonstrates the benefits of
environmentally sustainable business practice in part one and there is a reflection on what has
been learned from this module and a personal development plan in the last past.

PART 1 – REPORT
Introduction
Operating a firm without having a detrimental influence on the environment is known as
"business sustainability." To promote health and welfare both now and in the future,
environmental sustainability means being accountable for protecting global ecosystems and
conserving natural resources (Patel, 2021). A crucial component of environmental sustainability
is its forward-looking orientation because so many actions that affect the environment have long-
lasting effects. A green firm promotes the community and economy that are reliant on healthy
earth by operating in the best interests of the local and global environment. An environmentally
conscious company thinks about more than simply profits; it thinks about how its actions will
affect people and the environment. Such a firm is sustainable because it helps maintain the
structure in which it functions and so contributes to the creation of an environment in which the
business may flourish.
Eco-Friendly Consumer Behavior
Eco-Friendly customers are those customers who are looking for using, buying, disposing of, and
reviewing goods that satisfy their needs. Customer behavior is changed when resources are
limited. Eco-friendly customers are highly concerned about the environment and buy their
required products accordingly (Murugan, 2018). Several sociologists have faith that all desires
are cultural and that buying behavior is changed by the influences of culture.
However, eco-friendly customer behavior is altered and they are discussed below.
 The victory of demand against supply, in addition to the emergence of the consumer as a
sovereign subject, prepared to impose authority over the market. New sources of
information and communication, a wealth of possibilities, and improved evaluation tools
have changed consumer behavior. All of this has an impact on both the choice of food to
be consumed and its preparation and consumption.
 Due to the application of free-market principles under self-regulation, new forms of
interaction between businesses and consumers will arise.
 The Brand is playing an essential role in the eco-friendly behavior of the customer and
they are affecting education, family, society, workplace, and everyday life.

 In the environment of globalization, new coalitions of opposing forces, such as clients
and organizations, and tries to force that goes beyond markets would also emerge.
Due to globalization, eco-friendly customer is changing day by day and consumer are heavily
dependent on them in recent years because of covid-19 and are purchasing product online.
The Benefit of Business from Environmentally Sustainable Practice
There are several benefits that a business organization can get by practicing environmentally
sustainable business. Here are some benefits that are illustrated below.
Figure: Benefits of Environmentally sustainable business practice
Source: (Murugan, 2018)
Decrease cost: It reduces the cost of business by avoiding the use of paper as it operates all
activities through electronic means. Evading, plummeting, recycling, and reutilizing can
inferiorly cost business. For instance, a few modest variations to how business deal with paper
could include the staff in ecologically friendly procedures while convertible the cost
Attract new customers: The eco-friendly business practice helps to attract new customers and
ensure the sustainability of the business. Nowadays, customers are more conscious of
environment-friendly products and are purchasing products from an organization that is
concerned about the environment (Murugan, 2018).
Improves sustainability: If an organization is less dependable on natural resources, the cost of
production will be high and difficult to sustain in long run (Jeromio, 2020). So environmentally
sustainable practice business easily improves their sustainability.
Benefit of Eco
friendly business
practice
Reduce cost Attract new
customer
Improve
sustainability

Case: Lyft
Lyft is established in 2012 as a ride-hailing company. The company is criticized for increasing
the emission of congestion. In 2019 the company spent $2 million on carbon credit and this
initiative attracts customers and ensures their sustainability by diverting customers' minds
increases customer acquisition rates (Croston, 2019).
Business Benefits from environmentally sustainable business practice
The environment is essential for better life and business. Many organizations are taking initiative
for eco-friendly business to ensure their growth and sustainability.
For example, Patagonia is an outdoor clothing brand that makes cloth for customers with a clear
vision to protect the environment. But due to unable to maintain the vision of protecting the
environment, the company faces huge losses. The company took initiative for recycling their
product and it took back 45 tons of clothes from their customer and produce 34 tons of clothes
into new clothes (Croston, 2019). They repaired more than 30,000 items and their sales
increased by 30% to $540 million.
So, environmentally sustainable business practice helps an organization to increase its profit and
ensure sustainability in long run.
Way of ensuring Sustainable Business Practice to get Benefits
There are some ways of ensuring the sustainability of business practices and they are illustrated
below
Save energy: To get the benefit of the environment the organization must ensure the saving of
energy.
Choose eco-friendly business partners: By choosing green business partners the business
organization can get the best benefits for their business.
Go paperless: Due to globalization maximum businesses are using digital media and ensuring
paperless business and receiving more customer engagement.
Recycle and reuse: By recycling and reusing businesses can get the best outcomes and it will
reduce the cost and increase profitability and customer retention.

Conclusion
Environmentally sustainable businesses not only ensure a better life but also ensure the
sustainability of the business organizations. By eco-friendly sustainable business practices, the
business organization can reduce their cost, attract new customers and ensure their sustainability
in long run (Murugan, 2018). In addition, there are several organizations including Lyft and
Patagonia that ensure environmentally sustainable business practices and attract newer customers
and increase their sales and goodwill. Customer behavior is changing day by day due to the use
of eco-friendly products. Customers are buying a product using a digital platform and are more
concerned about the environment. Due to online business, many businesses organization ensure
eco-friendly business and they must be concerned about the production of the product without
damaging the ecosystem (Jang, 2017). There are several ways to ensure eco-friendly business
practices and every company should follow the procedures that are stated above.

PART 2 – REFLECTIVE WRITING
Figure: Environmentally sustainable business practice
Source: (Murugan, 2018)
In reflection on what I have learned, I just want to say that natural resources are very important
for a business organization to produce a usable final product for the customer. If they are less
concerned about environmental sustainability their business will suffer in long run and they will
face many challenges such as huge competitors, scarce resources to produce the product, an
increase in the cost of production, and losses of the eco-friendly customer (Ocon & McFarlane,
2019). I have learned how corporations are pretentious in the practice of environmentally
sustainable business and how they are contributing to the world by being sustainable. On the
other hand, by studying business sustainable cases including Lyft and Patagonia, I have learned
how they are affected after and before being sustainable.
Figure: Eco-Friendly environment
Source: (Croston, 2019)
However, I have learned how to use scarce natural resources by being sustainable and to ensure
the sustainability of businesses and individuals must be concerned about environmental
sustainability. Every business needs to outline Corporate Social Responsibility to ensure a
sustainable environment and we must be concerned about eco-friendly businesses and avoid the
product and businesses that harm the environment (Croston, 2019). After completing this report,
I learned that plastics bottle and bags are a hazard to the environment and we must avoid using

plastics to make the world better for everyone. The world chooses to become sustainable and
grab the benefits of it. In addition, I learned about the long-term effect of sustainable business
practices and the consequences of damaging the environment. Let’s stop damaging the
environment and make the best living place for everyone.
PART 3 - PERSONAL DEVELOPMENT PLAN
Academic Skill Action Future Implications
Decision-making skills To gain this skill, I will
participate in environmental
awareness programs, CSR
programs, and training to take
an environmental decision for
the business.
These decision-making skills
help me to take effective
decisions for the business to
ensure environmentally
sustainable business
practices.
Technical and engineering
skills
I will enhance my technical
and engineering skills by
attending various training and
development programs and
workshops. I will take a
technical course to improve
my skills to have a better
outcome in future
Having technical and
engineering skills will assist
me to bring innovative
products for the customer and
ensure environmentally
sustainable business
practices.
Analyzing skills I want to improve my
analyzing skills by studying
case studies and solving
issues. To aching these skills,
I will attend the case
competition on sustainable
business practice.
This analyzing skill will help
me to easily grab the better
effect of the sustainability
and consequence of the
misuse of natural resources
(Ocon & McFarlane, 2019).
Management skills I need to develop my
management skills and to
develop these skills, I will
Management is vital in
business and having these
skills will give me an extra

attend seminars and training.
In addition, I will take a
management course to have
better knowledge of it.
opportunity to have a better
career and I will effectively
manage the business
operations.
Conclusion
To have a competitive advantage every business must ensure its sustainability and to sustain
itself in long run it must ensure environmentally sustainable business practices. This allows a
business firm to have greater profitability and sustainability in the future (Croston, 2019). It will
reduce their cost of production and they can attract new and potential customers for their
business and develop their business growth.

References
Croston, G.E. (2019) Starting green: An ECOPRENEUR's toolkit for starting a Green Business
from business plan to Profits. Irvine, CA: Entrepreneur Press.
Jang, J., and 김김김 (2017) “Improving penetration rate of eco-friendly and lightweight vehicles
utilizing tax benefits,” Journal of Transport Research, 23(3), pp. 61–73. Available at:
https://doi.org/10.34143/jtr.2016.23.3.61.
Jeromio, G. (2020) “How to plan your personal development,” How to Succeed at University:
An Essential Guide to Academic Skills and Personal Development, 23(10), pp. 27–43. Available
at: https://doi.org/10.4135/9781446279731.n3.
Murugan, S. (2018) Carbon credit: An eco friendly business. New York: Lap Lambert Academic
Publ.
Ocon, R. and McFarlane, O. (2019) “Eco friendly business practices can create opportunities for
Innovation,” 2008 Annual Conference & Exposition Proceedings, 12(15), pp. 14–21. Available
at: https://doi.org/10.18260/1-2--3682.
Patel, T. (2021) “Cross-functional integration in sustainability-driven business practice,”
Handbook of Sustainability-Driven Business Strategies in Practice, 25(0012), pp. 12–28.
Available at: https://doi.org/10.4337/9781789908350.00040.