Business Sustainability
Marsha Firestone, Ph.D.
President & Founder, Women Presidents’ Organization
T
here is an important reason that
turnover. For example, Marilyn
sustainability has become a glob-
Volpe, WPO member and President
al issue and initiative. The reason is
of the Madison Consulting Group,
simple. Sustainability is the key to
Inc says “In today’s turbulent world,
securing the future of business and
it’s especially critical to motivate and
the globe. Sustainability is often used
engage employees, and one of the
in reference to the environment but
best ways is to continue to offer them
there are other aspects of sustainabil-
professional development that will
ity that are applicable to entrepre-
serve them well, not only in their
neurs and not often explored. The
current positions, but throughout
WPO’s 12th annual conference will
their careers. My company’s mission
explore multiple tiers of sustainabili-
has always been ‘To protect and
ty; most importantly the environ-
develop our clients’ most valuable
ment, finances and staff develop-
asset - their employees - throughout
ment and retention.
their life cycle- from new hires to
Recently there have been more
executives.’ and this is particularly
specific initiatives leading to wide-
important today.” Retaining trained
spread understanding and awareness
staff is an important resource as is a
of the importance of sustainability in
financial nest egg.
an environmental sense. This move-
The bottom line is that sustainabil-
ment was in part prompted by the
ity is becoming an essential objective
enhanced greenhouse effect and an
in order to stay competitive. To
increasing global awareness of the
many small business owners, this
environmental footprint we are leav-
change can be daunting but if under-
ing. Small businesses have started
tain the profitability of a business. A
taken gradually the adjustment will
sustainability projects in droves with
company’s financials can tell the
be less of a shock. Entrepreneurs are
no indication of stopping. Re-routing
story of a business from its creation.
accustomed to taking risks, and cre-
the focus of a company to take on a
A common characteristic among suc-
ating a sustainable company is a best
green initiative is a process that
cessful entrepreneurs is the use of
practice risk that should be encour-
requires the commitment and effort
competent professional advisors.
aged. A truly sustainable business
of the entire company over a period
CEO of Pacwest Financial Manage-
will be able to survive and thrive
of time. Becoming a sustainable com-
ment, Inc., Grace Lau discloses that
even in the down times.
pany can definitely affect the bottom
“emotions frequently get in the way
Marsha Firestone, Ph.D. is the
line. In economic downturns compa-
of prudent investment. A qualified
president and founder of the Women
nies look for a competitive edge that
financial advisor with the proper
Presidents' Organization, an interna-
will give them a lead over similar
training and experience can help
tional peer advisory for women
companies. Small businesses have
guide investors to stay on track and
entrepreneurs grossing at least $2
the distinct advantage of being able
not chase the latest fads in invest-
million in annual revenue. The WPO
to adjust aspects of the business
ments or deviate from a sound finan-
has over 80 chapters throughout
quickly and easily, making the transi-
cial plan.” As many business owners
Canada, the US, Peru and the UK.
tion to a sustainable workplace an
know, protecting resources can sus-
For more information please contact
achievable goal. Many Women
tain a company when the economy is
info@womenpresidentsorg.com or
Presidents’ Organization members
distressed.
212-688-4114.
whose companies have made this
Lastly, businesses that support the
adjustment have noticed that the per-
development of staff are often in the
ceived quality of their product is
forefront of innovation. Increased
higher and that their revenues have
training and education guarantee
increased.
fresh perspectives and new ideas.
The second tier of sustainability
Sustainable human resource policies
refers to the best practices that main-
will increase staff loyalty and reduce
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