A recent article in Industry Week outlined Six Recurrent Benefits for Social Response Capitalists that can improve both your top and bottom lines while making your target market feel good. (In other words, it’s a win any way you look at it.) You see, when you teach your engineers and your brand experts to compete on price, quality and social needs, a tidal wave of positive innovation occurs. And this innovation comes with the following benefits:
- Margin Improvement
More efficient use of labor, energy, and material resources leads to cost savings at every stage of the product life cycle.
- Rapid Cycle Time
The consideration of environmental issues as part of the concurrent engineering process reduces time to market as you will already be REACH, ROHS, and WEEE compliant.
- Global Market Access
Environmentally preferable products will meet the (emerging) international eco-labeling standards of Europe, Japan, Brazil, China and India.
- Product Differentiation
Distinctive sustainability benefits such as energy efficiency or ease of recycling can sway a purchasing decision in your direction.
- Social Bundling of Value in Products
Insisting on environmental responsibility in your products makes it clear to your customers that you are committed to social responsibility, which makes your brand a preferred brand.
- A Reduced Risk Premium
You can take your A1 brand rating “to the bank” and get more capital whenever you need it.