The business case

The way we do business is changing. Customer needs and demands are developing. Emerging technologies are enabling new ways of working. Supply chains are shifting and new markets are opening up. A more deeply connected generation is emerging. Knowing more about the world presents enormous opportunity, especially for business.

The opportunity

UK business could unlock around £100 billion a year in value from new innovation opportunities that address social and environmental challenges.

Companies must go beyond conventional corporate and social responsibility programmes and instead place sustainability at the heart of business strategies and operations to unlock the full commercial potential and sustainability benefits.

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Business benefits of responsible business

We have researched and compiled the most up-to-date data on what the business benefits are for being a responsible business today, and predict what the benefits will be tomorrow. This will help organisations and individuals understand what areas of operations they can look at to assess their societal, economic and environmental impact how to gather support for building a responsible business why being a responsible business is not only the right choice, it’s the sustainable choice.

Brand value and reputation

Brand value and reputation refers to any benefits realised from responsible business that improve the value of the brand and/or the reputation of the brand or organisation.

Operational effectiveness

There are numerous improvements and innovation in an organisation’s practices and processes as a direct result of being more responsible and sustainable, creating more effective operations and higher levels of efficiency.

Direct financial impact

This occurs when being responsible has a direct benefit to the financial performance of an organisation – for example improving access to capital, reducing costs, and improving shareholder value.

Business opportunity

The new opportunities or innovation generation created for all stakeholders specifically because of their efforts in being a responsible business. This can result in new business development, but critically it is about win-win opportunities for a variety of stakeholders.

Employees and future workforce

Responsible business practice benefits employees, and your business' ability to attract and hold on to talent. This includes employee motivation, productivity, recruitment, satisfaction, retention, engagement, and loyalty.

 

Risk reduction and management

There are benefits resulting from CR efforts that improve the organisation’s ability to identify and reduce exposure to risk, and prepare for and manage risks better.

Organisational growth

This is a business benefit when opportunities for overall organisational growth is created from being a responsible business – whether through new markets, new product development, lateral expansion, new customers, or new partnerships/alliances.

Sustainable Business Toolkit

Helping you create and test innovative ideas that deliver commercial, environmental & social benefit

Need bespoke support on this issue?

Speak to the advisory team

Become a member

For more information call Cynthia Marks (neé Fry), Campaign Manager
E: cynthia.marks@bitc.org.uk

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