Everywhere you look, people are becoming increasingly concerned about the impact of technology on topics such as unemployment, salaries, injustice, health, energy conservation, and security. These trends are dramatically altering the environment, and all industries must adapt in order to prevent extinction.
This transition involves implementing new technologies into all aspects of the company’s operations and delivery of service to consumers. While this vision could be daunting to others, it is one of the most important factors pushing change: businesses must adapt their business models to stay in business.
As the rise of COVID has facilitated the need for digital transition in all markets today, it’s critical to keep an eye on supply chains and their core position in achieving sustainability initiatives. When any company works to develop itself in order to succeed in these difficult times, meeting higher sustainable targets would strengthen them in terms of resilience and adaptability.
Here are five reasons why business owners today must incorporate measures of digital sustainability in their plans to transform:
1. A high demand for it.
There has been a significant increase in the industry demand for sustainable practises. In new research, 46% of participants indicated that their approach to sustainable development was pressurised by external stakeholders. The parties concerned still want to see the openness of activities beyond standard news releases under this pressure. Leaders are able to verify existing state processes by capturing sustainability activities in the implementations of an organisation. Digital transformation can help to build a sustainable world economy by rising pressure on global resources and by the urgent need for emissions cuts.
Further integration is necessary in order to support an increase in automation and augmentation. A large number of companies have developed their digital sustainability strategy by shifting their use of technology applications to the cloud, which was found to reduce carbon emissions by nearly 90% as well as consumes 84% less electricity, and 77% less servers. Managers can also monitor and report on a range of non-financial measurements including the use of a smart HVAC system within the organization’s plant maintenance application, thanks to IoT deploying systems around the enterprise.
3. Eyes on the supplies.
Supplier specifications are also being closely monitored. Business owners have come to the realisation that a sustainability programme needs to reach beyond the organisation as understanding of good practises grows. Managers should therefore explore incorporating sustainability applications through their digital development strategies to connect and cooperate on sustainability efforts with business partners such as suppliers.
4. Changing client attitudes
Another major reason to accelerate your company’s shift towards a sustainable, digital practises come down to the undeniable change in customer spending patterns. When it comes to purchasing choices, Gen Zs and Millennials tend to focus more diligently on ethical policies and environmental efforts as their purchasing power increases. According to a global survey, it was revealed that a staggering 91% of shoppers are likely turn to products that promote a social or environmental cause. Further analysis showed that 90% were even willing to go to the length of boycotting a corporation, depending on the levels of honesty, morality and accountability the company portrays. Members of these younger demographics have been known to study the practises of businesses and have created enterprise apps in an attempt to push businesses to ‘prove’ their sustainability claims. This has been accentuated by corporate efforts of greenwashing.
5. Keep up or fall behind.
Many business managers will agree that nowadays, sustainability is no more an option than it is a standard requirement. According to NASA scientists, the global limitations placed in response to the outbreak of coronavirus have significantly lowered the worldwide levels of nitrogen dioxide emissions by about 20% in a matter of six months. The first region to record a COVID-19 infection was in China, which demonstrated a decrease in nitrogen dioxide emissions by 60% compared to forecasted projections. Other areas benefited from this too – as result of the local lockdown taking place. For example, Milan in Italy experienced a 60% drop in emissions, followed by New York with nitrogen dioxide emissions decreased down by 45%. If companies do not hold the responsibility of adapting towards more ethical, socially conscious and environmentally friendly practices, the question begs to be asked: what kind of world will be left behind for generations to come?