The sustainable business model is not only a commitment to society and the environment but also presents numerous opportunities and challenges.
Consumer Prioritization: An increasing number of consumers value businesses with sustainability commitments. According to Nielsen, 81% of global consumers are “very or somewhat willing to pay more for products from brands committed to social and environmental responsibility.”
Attracting Talent: This model provides opportunities for businesses to attract and retain talented personnel. Today’s employees often seek a work environment that not only generates profits but also has a positive impact on society and the environment.
Long-Term Cost Savings: Although the initial costs of implementing a sustainable business model may be high, it often leads to long-term cost savings. For example, Walmart reduced over 20 million tons of greenhouse gas emissions from its supply chain, saving over $1 billion in transportation costs from 2005 to 2019.
Initial Costs: Transitioning to a sustainable model often requires significant investments in infrastructure and new technology, creating substantial financial pressure on businesses, especially small and medium-sized enterprises.
Supply Chain Integration Challenge: Ensuring the entire supply chain is sustainable requires close collaboration with partners and suppliers. However, not all partners may be willing to commit to implementing this model.
Acceptance and Team Mindset Change: The sustainable business model requires acceptance and a mindset change within the organization. This may involve changing work practices, production processes, and how the business interacts with the market.
By leveraging opportunities and addressing challenges, the sustainable business model not only provides short-term benefits but also forms the foundation for the long-term prosperity and sustainability of a business.
The sustainable business model is not just a trend but a comprehensive strategy shaping business behavior, focusing on optimizing profits while ensuring a positive impact on society and the environment.
Businesses implement quantification and waste reduction through recycling strategies and the use of renewable resources. For example, Unilever has committed to reducing their plastic waste by 50% by 2025. Additionally, energy management is a priority, and investing in energy-saving technology helps reduce emissions and related costs.
This strategy focuses not only on creating jobs but also contributing to the community through social projects. Microsoft, for instance, pledged $1 billion to build affordable housing in Seattle, Washington. Sustainable human resources policies also play a crucial role in creating a positive and fair working environment.
Collaborating with sustainable partners and suppliers is a crucial factor. Nike, for example, partnered with suppliers to minimize the use of harmful chemicals and water in the production process. Managing risks in the supply chain is also an important part of this strategy, helping businesses cope with climate fluctuations and societal changes.
This strategy involves investing in research and development to create new products and services with positive impacts. Tesla, for instance, introduced electric cars to contribute to the shift from fossil fuel-based energy to renewable energy. Encouraging innovation in research and development departments is key to developing new and sustainable solutions.
Identifying indicators and criteria to measure sustainable performance is crucial. Unilever has disclosed details of its progress towards reducing waste and water consumption goals. Reporting on successes and challenges enhances transparency and trust from customers and the community.
In conclusion, by integrating these strategies, the sustainable business model not only helps businesses create long-term value but also contributes to the sustainability of society and the environment.
On August 27, 2024, in Hanoi, a signing ceremony took place for the strategic partnership agreement between Asia Networks PEMS Co., Ltd. – a member company of EMTEK, and Vietnam Petroleum Power Services Joint Stock Company (PVPS). The agreement involves the provision of Expert Services, Maintenance, and Repair Service for Thermal Power Plants, Petrochemical Facilities, and Oil & Gas plants in Vietnam.
Vietnam, a rapidly developing nation in Southeast Asia, demonstrated its proactive commitment at the COP26 climate conference in Glasgow, Scotland. With the global goal of mitigating climate change, Vietnamese businesses have entered the race to contribute to international commitments and efforts regarding energy and climate.
EMTEK is a company with a diverse and growing workforce. Therefore, EMTEK recognizes the importance of a harmonious and diverse work community. A diverse community fosters creativity and innovation. Diversity in experience, perspectives, and working styles introduces new approaches and creative solutions to technological and business challenges. It also helps EMTEK attract and retain talent from around the world. This gives the company a workforce rich in skills and intellect, bolstering its competitive strength.
EMTEK understands that a creative and motivating work environment plays a crucial role in driving organizational performance and success. Specifically, such an environment can positively impact the development and success of the organization by fostering creativity, motivation, enhancing performance, providing learning opportunities, and strengthening team spirit.
Trekking is not just a recreational activity but also an opportunity to build relationships, understanding, and cohesion among team members. The sense of exploration, conquering, and overcoming challenges on a trekking journey provides unforgettable experiences for anyone embarking on this adventure. It involves immersing in the wild, enjoying every moment nature offers, and facing the challenges posed by the natural environment.
EMTEK’s corporate culture is a unique blend of passion, innovation, and team spirit. By integrating these three “ingredients,” EMTEK not only creates a positive work environment but also drives the organization's growth and success. This cultural framework helps EMTEK maintain its competitive edge and uphold its position as one of the leading companies in the technology and automation sectors in Vietnam. EMTEK respects and encourages the passion of its employees in all aspects of their work, aiming to contribute to the organization's success through individual effort and commitment.
