An excerpt from Deloitte 2020 Readiness Report, which accessed over 2000 C-Suite Executives, showcased how more and more businesses are trying to balance profit and purpose, due to the increasing demands from customers, employees and other stakeholders.
"Almost 70 percent of those who have integrated Industry 4.0 into their strategies said they have made a great deal of progress against their goal of making a profit while positively contributing to society versus 10 percent who do not have strategies."
The truth is that due to stakeholder pressure and a greater understanding of their responsibility to take action, business owners are considering climate change and sustainability as top priority issues. Additionally, this is also a clear signal of how consumers have the power to shape the industry and demand companies to abide by their requirements and expectations.
This is a great step towards a more responsible future!