Sustainability in business is to minimize the negative impact on the society and participate in environment friendly activities and ensures that all its activities address the environmental concerns while maintaining the profit i.e. to achieve the triple bottom line.
Owner-Managers of small firms tend to be resistant for improving their environmental performances as they view these measures as expensive to undertake. The question of how to become more sustainable is one of the most important challenges faced by the society today. Today customers are not only interested in the products they are being offered but all the additional elements they receive. Over the past few years, shift in consumer preferences have led the companies to respond to the growing green value opportunity. With evolution of the concept that “customer is the king” the markets has changed its philosophy of being product centered, “make and sell” to customer centered “sense and respond” philosophy. So how can the customer’s voice be ignored by the companies?
There are tremendous opportunities for the companies that are sensitive to the changes and manage the voice of customers. Consumers are becoming more educated in their options so to survive the competition companies have to explore new avenues that drives the desired business sustainability, resulting in strong base loyalty.