Business Sustainability
Marsha Firestone, Ph.D.
President & Founder, Women Presidents’ Organization
T
here is an important reason
company when the economy is
that sustainability has become
distressed.
a global issue and initiative. The
Lastly, businesses that support
reason is simple. Sustainability is
the development of staff are often
the key to securing the future of
in the forefront of innovation.
business and the globe.
Increased training and education
Sustainability is often used in ref-
guarantee fresh perspectives and
erence to the environment but
new ideas. Sustainable human
there are other aspects of sustain-
resource policies will increase
ability that are applicable to
staff loyalty and reduce turnover.
entrepreneurs and not often
For example, Marilyn Volpe,
explored. The WPO’s 12th annual
WPO member and President of
conference will explore multiple
the Madison Consulting Group,
tiers of sustainability; most
Inc says “In today’s turbulent
importantly the environment,
world, it’s especially critical to
finances and staff development
motivate and engage employees,
and retention.
and one of the best ways is to
Recently there have been more
continue to offer them profession-
specific initiatives leading to
al development that will serve
widespread understanding and
them well, not only in their cur-
awareness of the importance of
rent positions, but throughout
sustainability in an environmen-
their careers. My company’s mis-
tal sense. This movement was in
sion has always been ‘To protect
part prompted by the enhanced
and develop our clients’ most
greenhouse effect and an increas-
made this adjustment have
valuable asset - their employees -
ing global awareness of the envi-
noticed that the perceived quality
throughout their life cycle- from
ronmental footprint we are leav-
of their product is higher and that
new hires to executives.’ and this
ing. Small businesses have started
their revenues have increased.
is particularly important today.”
sustainability projects in droves
The second tier of sustainabili-
Retaining trained staff is an
with no indication of stopping.
ty refers to the best practices that
important resource as is a finan-
Re-routing the focus of a compa-
maintain the profitability of a
cial nest egg.
ny to take on a green initiative is
business. A company’s financials
The bottom line is that sustain-
a process that requires the com-
can tell the story of a business
ability is becoming an essential
mitment and effort of the entire
from its creation. A common
objective in order to stay compet-
company over a period of time.
characteristic among successful
itive. To many small business
Becoming a sustainable company
entrepreneurs is the use of com-
owners, this change can be
can definitely affect the bottom
petent professional advisors. CEO
daunting but if undertaken grad-
line. In economic downturns
of Pacwest Financial Manage-
ually the adjustment will be less
companies look for a competitive
ment, Inc., Grace Lau discloses
of a shock. Entrepreneurs are
edge that will give them a lead
that “emotions frequently get in
accustomed to taking risks, and
over similar companies. Small
the way of prudent investment.
creating a sustainable company is
businesses have the distinct
A qualified financial advisor with
a best practice risk that should be
advantage of being able to adjust
the proper training and experi-
encouraged. A truly sustainable
aspects of the business quickly
ence can help guide investors to
business will be able to survive
and easily, making the transition
stay on track and not chase the
and thrive even in the down
to a sustainable workplace an
latest fads in investments or devi-
times.
achievable goal. Many Women
ate from a sound financial plan.”
Presidents’ Organization mem-
As many business owners know,
bers whose companies have
protecting resources can sustain a
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