Why ‘doing good’ is good for business
The role and expectations of business is rapidly changing. Both consumers and business owners are reconising the importance of operating with an ethos to ‘do good.’ This shift away from a solely profit driven business focus not only bolsters corporate social responsibility but also largely benefits the business across the triple bottom line. At SDG Align we don’t only visualise this shift in business through our logo design, but provide the tools and support to enable business to practice doing good.
In this article we will outline what ‘doing good’ actually is, why it’s important for business and how the SDGs support this initiative.
In an era where business success is measured in more than just profit, ‘doing good’ is imperative.
What is ‘doing good’
‘Doing good’ in business is multi-faceted. It’s a business ethos that goes beyond the financial bottom line to consider business impact on wider community and environment. While different for each business depending upon their industry, size etc. it encompasses aspects such as ethical business practices, community contributions, fair employment policies and initiatives toward climate action.
In essence ‘doing good’ is about deliberate action by business to take steps toward positive change for both business and the wider community and environment.
The Entrepreneur has a wonderful article that delves further into the idea of ‘doing good’ to learn more.
Why is ‘doing good’ important
So, why is this important? Outside the obvious benevolent benefits which considering the greater good provides, there are many reasons it’s important for business to do good. Today’s consumers and stakeholders are becoming for considerate of who they support and work with, considering those prioritizing environmental and societal well-being. As such, ‘doing good’ can increase loyalty, reputation and new customers.
Further, ‘doing good’ works toward future-proofing a business. Investing in sustainable practices and community well-being increases a businesses resilience and longevity in the face of social and environmental challenges. An essential consideration in the face of our changing and uncertain climate. Doing good can also open new opportunities in the market as many of our present challenges require innovative business solutions.
How the SDGs support ‘doing good’
The Sustainability Development Goals (SDGs) provide a comprehensive framework for businesses to adopt to effectively ‘do good.’ The 17 United Nations Goals address key challenges we as a global community face across our environmental and social spaces and sectors. The SDGs also offer an internationally recognized set of targets and indicators which give businesses clear context for their ‘do good’ initiatives.
Our work supporting this initiative
Here at SDG Align, we want to make the process of aligning business processes and practices with the SDGs simple. We provide the tools, using the framework of the SDGs to evaluate how well and where businesses and stakeholders do and don’t align with the SDGs. The data and valuable insights with the support from the team can then be used to plan and manage impactful and relevant business action and strategies. To learn more have a chat with us or take our free self-assessment and see where you currently sit with the SDGs.
In an era where business success is measured in more than just profit, ‘doing good’ is imperative. We encourage and enable businesses to take this opportunity, transform operations and gain insights for the benefit of business and the environment and society which support it.
