In product life cycle many steps and many concerned parties are involved. This can impact how a business addresses sustainability across a product life cycle. There are three main groups of interested constituents. The first are those who have a direct impact on actual creation of the packaging. The manufacturers, plastic processors and equipment manufacturers. The second group consists of those people who come in contact when the packaging has been done – brand owners, retailers, marketers, partners and consumers. The third group consists of influence’s who do not come in contact with the packaging directly, but they have a tremendous influence on it. These consist of government regulators, non-governmental organization(NGOs), educators, environmental groups, media and industry associations.
All these groups put pressure on the business not only for the sake of sustainability but also to show their presence. Due to improved understanding and fast communication, the days of green-washing are no more there, and the companies have to give measurable results to meet the growing demands of their customers. This drives businesses to undertake sustainability advances and garner positive results verifiable through scientific methods.
Relationships with the stakeholders along with better understanding of the market needs have significant impact within the industry. Government organizations and NGOs publish a list of companies who demonstrate commitment with sustainability. Learning, by consumer activists can be shared through social media that will reach a number of consumers in short time.
Regulators and others will also have a strong impact. Winning an award or recognition will win public recognition and it can help to increase company’s credibility in general public and also within the industry.
Another effect is the improved relationships with stakeholders. Industry experts from many companies, having extensive sustainability programs become go-to source, proving an opportunity for publicity. This method generates significant and positive exposure and direct business opportunities.
Effective sustainability program enhances employee engagement. By demonstrating to employees how they are undertaking sustainability will increase earnings as compared to the organizations with lower engagement.
Top employees from talent pool will be attracted towards the companies committed to sustainability. Every employee, right from the bottom to top should be engaged in sustainability to extend benefits to all employees.
Businesses that show their progress to public enjoy public relation results. Many organizations publish sustainability reports highlighting the impacts of their program, and how they have improved over previous year.
Overall image of the brand will be improved through transparency. It will also enhance your marketability, and increase trust in your company in the industry and also to customers. It will lead to many more opportunities to innovate and will enhance chances of increasing symbiotic relationships with other organizations. These relationships will lead to a richer value-chain and put a company in a position to influence the supply chain.
The environmental advantage of sustainable practices is improvements. The drive to reduce waste and lower carbon footprint helps business to be more creative and leading to more outlets for improved innovations. Sustainable packaging generates less waste which will result in saving of raw materials. Business can reap significant financial benefits by engaging in clean practices rather than to use its resources to clean up waste later in the product life-cycle.
Courtesy – Custom Candle Packaging Boxes