Reference no: EM13271394

Initial concept development for sustainable offering

A sustainable offering is product and /or service which are more sustainable in terms of achieving a balance between environmental protection, social equity and economic prosperity throughout its life cycle, which still meeting key requirement s, examples; quality, technical feasibility and cost. Another key requirement is, of course, that the offering provides customers value. This means that the consumers perceive product benefits (i.e. Function, social, affective, need to be greater than the consumer's perceived cost.

Consumer's goods

Consumer Goods -are those which are meant for final consumption by the consumer or in simple words are used by consumers directly. Example Pepsi.

ECONOMIC BENEFIT

Although each company has their own reasons and motives for being more green and sustainable in business, her are a few of the primary benefits to becoming a more sustainable company.

ENHANCED   BRAND AND INCREASE COMPETITIVE ADVANDAGE

The Nature Marketing Institute (NMI) has found in their consumer research that knowing a company is mindful of its impact on the environment and society.

INCREASE PRODUCDTIVITY AND REDUCED COST

Through development of more sustainable business practices, efficiency in operations will increase with better use conservation of resources, operation will streamlined and cost will increase.

FINANCIAL

Financial and investment analysts have recognized companies   who have developed sustainability plan with regards to energy efficiency and reduction of environmental impact as an important evaluator criterion.

ENVIRONMENTAL

Increase employees Retention and recruitment employees want to work with companies who are doing the right thing and being proactive with corporate environment and social programs. A 2007 survey by Adecco, and international HR companies, found that 52% of employed adult feel their companies want their employees to be loyal and ethical to the organization. According to a global study of a business ethics by the American, and ethical culture is developing corporate social responsibility.

SOCIAL

Social sustainability means responding better to local communities, ensuring response are tailored to local country contexts; and promoting social inclusion, cohesion and accountability. The basic notion of sustainability refers to taking future generation into account while living with the awareness that our actions do have an impact on others and the world at large. Social sustainability takes the larger world view into consideration in relation to communities, cultures, and globalization. At project level, this means undertaking adequate social analysis and assessment, which in than allows for adequate identification of social opportunities, as well as adequate mitigation of social impacts and risks, including through the proper application of the bank social safe guard policies.

CONCLUSION

Through development of more sustainable business practices efficiency in operation will increase the life standard of human. Many companies are very mindful of their products so that it will always be green-ever.