How Should Your Business Respond to a Changing Environment?
The changing pattern of our climate is a hot topic of conversation these days, isn’t it? And the focus of many news headlines – understandably.
But, if you’re in business, is the environment something you’ve given proper consideration to?
It should be…
Why is it important?
Businesses across the world need to build their resilience to extreme weather incidents – and prepare for climate change. They also need to adapt to the changing demands of increasingly environmentally aware consumers.
So we want to explore all these strands together – to see how they could affect your business’s future success.
What can you do?
How can you make sure your company is responsive to change – and able to deal with these issues effectively? The solutions are sometimes industry specific, but there are many key areas that everyone should look at.
The importance of planning
Firstly, you need to create clear business continuity plans, which set out your response to weather related challenges. And how the products and services you provide could be affected by a changing market – and conditions.
Look at where you are now and analyse realistically how these could impact your company. And draw up a business impact analysis too – taking into account all possible scenarios.
Firstly, the weather
Set out the threats and potential benefits of any unexpected change in the weather – in your plan. A warmer winter could result in increased disruption to supply chains due to flooding, for example, but fewer snow related ones. Or it could impact on your building’s fabric and structure – but make it easier and cheaper to heat. How do you respond ?
We’re not suggesting for a moment that changes themselves are positive – but that we have to be ready.
A changing market
You also need to look at what you’re currently providing – and see how it’s likely to fit with future demand. As consumers become more aware of environmental concerns – you need to move quickly to stay ahead..
So you need to stay agile in terms of products you offer. Adapt and consider more eco friendly alternatives. Make your start up unique.
If you run a cleaning business – think about investing in steam cleaners, for example – from Steamaster Australia. They’re highly effective and cost efficient – but low impact. Or, if you’re in construction, look at the feasibility of using more sustainable materials.
Customers will also want to buy products with a smaller carbon footprint – so try to source locally wherever possible. You may feel that initial costs are prohibitive but it’s important to consider economies of scale. If your business offer becomes outdated, for example, that’s not a position you’ll be able to afford to be in,
In conclusion, it’s crucial not to underestimate the effect of a changing environment on your business. But, if you stay fully informed on its impacts and forward plan effectively, you can get ahead of potential challenges.
Then you will be best placed to respond successfully both to a shift in our climate and consumer demand.