Journal of Research in International Business and Management

Building Back Better: Sustainable Practices for Business Recovery

John Peter^* Department of Strategic Management, College of Business at Pacific University, Oregon, Mexico
^*Corresponding Author:
John Peter, Department of Strategic Management, College of Business at Pacific University, Mexico, Email: petjo55@gmail.com

Received: 27-Mar-2024, Manuscript No. 130765; Editor assigned: 30-Mar-2024, Pre QC No. 130765; Reviewed: 15-Apr-2024, QC No. 130765; Revised: 22-Apr-2024, Manuscript No. 130765; Published: 26-Apr-2024, DOI: 10.14303//jribm.2024.017

Introduction

In the wake of unprecedented challenges such as global pandemics, economic downturns, and environmental crises, the concept of "building back better" has emerged as a guiding principle for businesses worldwide (Aloia et al., 2019). Rather than simply returning to pre-crisis operations, this approach advocates for implementing sustainable practices that not only foster recovery but also create a stronger, more resilient foundation for the future (Amjad et al., 2022).

Sustainable practices encompass a broad range of strategies aimed at minimizing environmental impact, promoting social responsibility, and ensuring long-term economic viability. While the immediate focus of business recovery may be on restoring financial stability and operational efficiency, integrating sustainability into recovery efforts offers numerous benefits that extend far beyond shortterm gains (Dey et al., 2023).

One key aspect of building back better is rethinking supply chain resilience. The disruptions caused by recent crises have underscored the vulnerabilities inherent in complex, global supply chains (Henderson et al., 2019). By diversifying sourcing, investing in local production, and prioritizing suppliers with strong sustainability credentials, businesses can reduce their exposure to risk while contributing to regional economic development and environmental conservation (Kuzemko et al., 2020).

Additionally, embracing renewable energy and energy efficiency measures can significantly reduce operational costs and carbon emissions. Transitioning to renewable sources such as solar or wind power not only enhances environmental sustainability but also insulates businesses from fluctuations in energy prices and regulatory changes (Mallawaarachchi, 2023).

Furthermore, prioritizing waste reduction and circular economy principles can drive innovation and cost savings. By designing products with longevity and recyclability in mind, businesses can minimize waste generation and maximize resource efficiency throughout the product lifecycle (Putz et al., 2022). Implementing recycling programs, refurbishing products, and utilizing recycled materials can all contribute to a more sustainable and resilient business model (Rotondo et al., 2022).

Investing in employee well-being and diversity also plays a crucial role in building back better. Prioritizing workplace health and safety, offering flexible work arrangements, and fostering a culture of inclusivity not only enhance employee satisfaction and productivity but also strengthen the company's reputation and resilience in the face of future challenges (Toniolo et al., 2023).

Moreover, engaging with stakeholders, including customers, investors, and communities, is essential for sustainable business recovery. Transparent communication, active listening, and meaningful collaboration build trust and foster long-term partnerships that are invaluable during times of uncertainty (Velenturf & Jopson, 2019).

Conclusion

Building back better through sustainable practices is not just a moral imperative; it is also a strategic imperative for businesses seeking to thrive in an increasingly complex and volatile world. By integrating sustainability into every aspect of their operations, from supply chain management to employee engagement, businesses can not only recover from crises but also emerge stronger, more resilient, and better equipped to navigate the challenges of the future.

References

Aloia, T.A, Keller, D.S, Kowalski, R.B, Lin, H, Luciano, M.M, Myers, J.A, & Young-Fadok, T.M (2019). Enhanced recovery program implementation: an evidence-based review of the art and the science. Surg Endosc. 33, 3833-3841.

Indexed at, Google Scholar, Cross Ref

Amjad, A, Abbass, K, Hussain, Y, Khan, F, & Sadiq, S (2022). Effects of the green supply chain management practices on firm performance and sustainable development. Environ Sci Pollut Res Int. 29(44), 66622-66639.

Indexed at, Google Scholar, Cross Ref

Dey, T.K, Rasel, M, Roy, T, Uddin, M.E, Pramanik, B.K, & Jamal, M (2023). Post-pandemic micro/nanoplastic pollution: Toward a sustainable management. Sci Total Environ. 867, 161390.

Indexed at, Google Scholar, Cross Ref

Henderson, M.K, Goldring, K, & Simeon-Dubach, D (2019). Advancing professionalization of biobank business operations: Performance and utilization. Biopreserv Biobank. 17(3), 213-218.

Indexed at, Google Scholar, Cross Ref

Kuzemko, C, Bradshaw, M, Bridge, G, Goldthau, A, Jewell, J, Overland, I, & Westphal, K (2020). Covid-19 and the politics of sustainable energy transitions. Energy Res Soc Sci. 68, 101685.

Indexed at, Google Scholar, Cross Ref

Mallawaarachchi, T (2023). Realising rural economic transformation: Pathways to inclusive and sustainable prosperity in post-COVID-19 Asia. Econ Anal Policy. 77, 1076-1082.

Indexed at, Google Scholar, Cross Ref

Putz, F.E, Romero, C, Sist, P, Schwartz, G, Thompson, I, Roopsind, A, & Ellis, P (2022). Sustained timber yield claims, considerations, and tradeoffs for selectively logged forests. PNAS Nexus. 1(3), 102.

Indexed at, Google Scholar, Cross Ref

Rotondo, F, Perchinunno, P, L’Abbate, S, & Mongelli, L (2022). Ecological transition and sustainable development: Integrated statistical indicators to support public policies. Sci Rep. 12(1), 18513.

Indexed at, Google Scholar, Cross Ref

Toniolo, S, Marson, A, & Fedele, A (2023). Combining organizational and product life cycle perspective to explore the environmental benefits of steel slag recovery practices. Sci Total Environ. 867, 161440.

Indexed at, Google Scholar, Cross Ref

Velenturf, A.P, & Jopson, J.S (2019). Making the business case for resource recovery. Sci Total Environ. 648, 1031-1041.

Indexed at, Google Scholar, Cross Ref

Citation: Peter J (2024). Building Back Better: Sustainable Practices for Business Recovery. JRIBM. 11: 017.