The sustainable business model is a modern approach to business that offers an alternative to economics Milton Friedman’s shareholder theory. The shareholder theory states that profits should be given priority above all else in order to drive business success and growth. At Wikoff Color, we believe long-term prosperity is achieved only through strict adherence to sustainability and ESG ideals.
Why sustainability matters
When most people think about sustainability in business, they imagine “green” issues such as recycling, eliminating waste, lowering toxicity, reducing pollution and so on. But while all these environmental issues are vital to the world we live in, nature conservation and protecting our planet is just the tip of the iceberg for why sustainability in business is so important.
The sustainable business model is the only way forward to create profitable organizations that are built to last. A focus on sustainability is all about creating ways to renew resources instead of depleting them. At Wikoff Color, we are incredibly proud of the progress our technical teams have accomplished. We manufacture sustainable printing inks and help our customers and partners to implement more sustainable operational practices.
The case for sustainability in business
Our commitment to operating fairly, responsibly and sustainably does not hinder our ability to excel in our marketplace. In fact, the opposite is true. As an industry leader in sustainability and ESG, Wikoff Color is able to:
- Generate additional business value
- Better meet the unique needs of our customers
- Attract and engage top talent
- Build a work environment that motivates employees to excel
- Lower operational costs to offer better pricing to customers
- Improve the reputation our brand
- Position ourselves to take advantage of new opportunities
We are extremely pleased with how our organization balances success in business with how this success in turn impacts the world around us.
The Environmental, Social, and Governance (ESG) framework supports longevity
A major flaw in Friedman’s shareholder theory is that even the most successful business can only survive in stable reality. If social or environmental systems collapse, so will the business.
Following the ESG framework is the key to striking this balance. A strong economy relies on healthy social and environmental systems to survive. Only by protecting all three elements can sustainability be achieved.
How we do it
Visit our Sustainability & ESG page to learn more about Wikoff Color’s commitments and the strategies we have put in place to develop smarter printing solutions for tomorrow and today. From lessening our impact on the environment to taking better care of the people who work here, competing using fair business practices and putting governance in place to hold us accountable to our ideals.