The Rise of Sustainability in Business Practices and its Effects on Profitability
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Publisher
Procedia Publish Group
Abstract
Description
This abstract summarizes the rise of sustainability in business practices and its effects on profitability. The topic explores how businesses are increasingly adopting sustainable practices and the impact of these practices on their financial performance. It examines the reasons behind this shift towards sustainability, including changing consumer preferences, regulatory requirements, and the recognition of long-term benefits. The abstract also discusses the various ways in which businesses can integrate sustainability into their operations, such as implementing renewable energy sources, reducing waste, and promoting ethical sourcing. Furthermore, it analyzes the potential challenges faced by businesses during this transition, such as high initial costs and resistance from stakeholders. Finally, it highlights the positive effects of sustainability on profitability, including cost savings through energy efficiency measures, increased brand reputation and customer loyalty, access to new markets and investors who prioritize sustainable practices. Overall, this abstract provides an overview of the rise of sustainability in business practices and emphasizes its positive impacts on profitability.
Keywords
Trade policies, International business, Retaliatory measures, Market economy