What Form Of Responsibility Does Your Business Hold?
Businesses are not islands. They live and thrive from the societies around them, contribute and take from them. They also have forms of impact on the cultural, environment and sociological landscape, Via the products they put out, and the methods of manufacture or supply they use to craft those, they impact the world around them. Of course they do. You’d never hear of a business that provided no form of contribution. There would be nothing to pay for.
Even something as simple as selling someone a meal has consequences for the society, mostly great. But when starting a business, it can be very useful to try and feel out the scope of your business responsibilities. Is there a reason your business should think in a certain way to make the world better? Do you even need to? Is it your fight? Is there room for improvement? Of course, there always is, and you might find that hidden in the following considerations:
We all have ethical standards we need to fill. There can be different bars for measuring this form of progress also. First of all, it’s essential to pay your staff a fair wage. This can even be the case if you have workers abroad in cheaper factories. Just because a country has cheaper labour costs does not mean you should feel obliged to exploit them. Paying a fair wage at the level that is legal and also as generous as you can muster from a keen business sense will help you ensure everyone associated with working for your company holds a good opinion of it. Just think about the current scandals covering Amazon, and you’ll likely keep a much healthier perspective on this.
Many manufacturing processes will contribute negatively to the environment. The running of a factory and burning fuels will do this, but you can also make healthier choices. For example, switching to more biodegradable and sustainable fuels might be a little more expensive (such as investing in solar,) but the effort can be tremendously worth it in the long time. However, it’s not all about what suppliers you use to fuel your operation. It’s also in how you train your staff. Keeping them safe from harmful chemicals is essential, as is never letting them contaminate your products, even if they’re somehow involved in the production process. Continuing to train staff in Reach vs ROHS legislation for example will help them stay up to par with the common requirements of your legislative body. There’s a reason those exist. They’ll keep your staff healthy and happy.
Shareholders can be one of the most important things to take care of, but usually not at the cost of your ethical or environmental responsibilities. This means ensuring you keep your business operations profitable and correctly calibrated within those means. In order to achieve this, it’s important to set yourself up with a company ethos from the beginning. Trying to enact sustainability methods could turn off a lot of investors if starting without those kind of ideals. Implement them naturally, appropriately, or from the start and you can strike a good balance between drawing investors and doing good in the world.
With these tips, you should keep your responsibilities in high regard.