What sets your business apart from your competition?
More startups have emerged in the wake of the COVID-19 pandemic. It’s time to be clear on your business’s competitive advantage. Your rivals are motivated and determined more than ever to be successful.
Environmental impact concerns are ever-increasing. How businesses contribute to deforestation, pollution, etc., is unsettling to people. One competitive advantage to consider is how your business can decrease its carbon footprint.
Thinking green has become a popular term, and for good reason. Here are some competitive advantage examples that can support sustainability. These will also keep your business a step ahead of your competitors.
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Perform an Environmental Audit
An environmental auditor is someone who reviews the policies and procedures of a company and sets up protocols for improved implementation of environmental standards. By using an outside auditor, you are ensuring that the results remain objective.
During a review, the auditor will investigate functions of your business, such as:
- Environmental permitting
- Compliance regulations
- Effectiveness of environmental management systems
- Assessing material risks and practices
The environmental auditor will verify that your business is compliant with any rules & regulations that apply to your type of business, and Federal, State, and local laws.
An environmental audit is one way to exemplify your commitment to sustainability.
Alternative Energy Sources
There are many benefits that a switch to renewable energy can bring to your business.
How about amplifying your public relations? Customers are more likely to purchase goods and services from a business that prioritizes green practices than not.
Consider how your office building is making an environmental impact. Many solar companies offer incentives to individuals and companies to purchase solar energy systems for their homes and businesses.
Powering your business operations through alternative energy sources is advantageous. You can decrease your carbon footprint and greatly reduce your energy costs.
Upgrade to Cloud Computing
Cloud computing significantly reduces energy consumption and carbon emissions. Cloud migration is a smart move, financially. It gives you the ability to free up capital that’s used to power up excessive machines and server hardware.
Cloud computing also increases the speed at which your business operates. It also facilitates better communication internally and with your client base.
In terms of competitive advantage, businesses operating on the cloud are future-focused. They have greater opportunities to improve efficiency within management, adapting to technological advancements.
Cloud-run businesses also spend less time and money on IT-related matters. They are able to concentrate their efforts on developing projects that generate revenue.
Business Competitive Advantage: Think Green
When considering a business competitive advantage, it’s important to think about profits, the planet, and people. People are increasingly more interested in sustainable goods and services.
Environmental impact affects the present and future of all living things. Adopting a greener business strategy can lead to greater success in your business and a better world.
Check out our website for more insight into sustainable business practices.