Firstly, I would like to establish what I meant by this Sustainable Agribusiness, the term Sustainable is controversial, it can be explained and interpreted in different ways, so, it is very easy to get confused here. The sustainability in this context is different from the one commonly known in Sustainable Agribusiness which has to do with setting up a venture or enterprise that has minimal negative impact or potentially a positive effect on the global or local environment, community, society, or economy. A business that strives to meet the triple bottom line. that participates in Environmentally friendly or green activities to ensure that all processes, products, and manufacturing activities adequately address current environmental concerns while maintaining a profit. In other words, it is a business that “meets the needs of the present world without compromising the ability of future generations to meet their own needs.
Here, I am more interested in the triple bottom line which involves the social, environmental (or ecological) and economic impact of a business, focusing more on the economic sustainability and narrowing it down to the internal economy or financial status of a business. I am talking about a business that can run successfully, productively and profitably over the course of time in the long run. This is much about the impact of a business venture on itself economical, how it grows productively and profitably. It involves developing all strategies and components in the agribusiness venture setting it up for sustainability in the long run. A business that can run successfully over a long period of time while growing; scaling-up and expanding along the way.
Economic sustainability is the practice of conserving and managing business resources to create long-term financial stability. A system that is sustainable can last far into the future with minimal negative impacts.
Why Should an Agribusiness be Sustainable?
The points given below are reasons a business must be sustainable:
- It is good to note that the greatest return in business come in the long run and for that to be obtainable, the business must be sustainable.
- It affords the business venture funding opportunity from the investors because of the values being provided which are enticing and attractive. It also gives them confidence and assurance to invest in your business venture.
- A sustainable business will command high value and worth in market in a case of take over or exit, yielding huge return for the business owner.
- For an entrepreneur to be able to meet his or her goals and vision, the business have to be sustainable.
Tips for implementing an economic sustainability strategy in business
For a business to be sustainable, you would need to implement some business economic sustainability strategy. Here are some tips for implementing an economic sustainability strategy:
- Focus on reducing environmental effects. Companies can focus their economic sustainability strategy on reducing their environmental effects for a more healthy, sustainable long-term environment and an abundance of natural resources.
- Set firm financial goals. Setting financial goals is often a core component of economic sustainability because goals help a company decide how to increase profits, provide benefits for team members and continue operations without reducing outputs.
- Focus on team members. Productivity is often necessary for sustained economic growth. Companies can focus on increasing their staff's satisfaction by creating competitive wages and benefits packages, making the workplace safer and adopting strong moral values.
- Work with other businesses and organizations. Collaborations can be helpful for creating economic stability because they allow companies to pool their resources to solve economic problems, such as inequity, environmental damage and job creation.
With emphasis on the Internal Economic Sustainability of your business, our team of business facilitators has developed SLISV.
What is SLISV?
SLISV is a "Business Sustainability Strategy" Developed by The Team of Agribusiness Facilitators at Measureit247.
This strategy is perfect, tested, proven and trusted because it has been Adopted and Implemented by some members of Measureit247 Community and has yielded huge result.
The strategy cuts across all the various segments of your agribusiness venture, it is basically a perfect blueprint to sustainability in agribusiness starting from Ideation to Management.
Schedule an interactive consultation session today to obtain in-depth knowledge about this strategy and lets build your agribusiness to sustainability together
To schedule an interactive consultation session click here
I will also recommend Measureit247, a guide that helps you maximize your business potential and attain sustainability. It is a must read for all agripreneurs; intending, beginners or advanced.
To read Measureit247 online or buy ebook PDF click here
For more agribusiness solutions
For enquiries, Contact:
Tobi Fatunmbi
Email: tobi.measureit@gmail.com
Mobile number: +2348163554014
No comments:
Post a Comment
Post comments here...
To advertise on our Marketplace; include the following details:
Name of product or service:
Description:
Price:
Contact details (Phone number):
Location:
For Enhanced Commenting Engagements
Check our Comment Guide here