The overall business around the world is significantly expanding as many organizations and businesses are being developed. This is a positive scenario for global business but what makes me worried about is that the concept of sustainable business is not getting its rightful attention and implementation. The significance of sustainable business cannot be avoided as it represents businesses being run with energy efficiency and innovation along with reducing waste reduction and negative social impact. When Dr. Raed El Omari personally talks about sustainable business practices the Fintech industry is one of such businesses that is promoting these practices. There are various sustainable business practices but some of the most important are innovation and differentiation, energy efficiency, green supply chain, minimizing adverse social impact, and future sustainable development. However, it is believed that 49% of the organizations developed sustainable products or services last year. This critical development has enhanced the awareness of sustainable business practices in different businesses around the world. You are hearing first from Raed El Omari that sustainable business practices will expand further in the coming years, especially in the Fintech industry.
Moreover, Dr. Raed El Omari a Qatar business expert in the Fintech industry has significantly increased its operations ultimately leading to reduced paper use at banking offices. Qatar leadership has significantly focused on this digitalization as it has helped consumers along with sustainable financial operations. This industry has been one of the primary examples of sustainable business practices as I Raed El Omari being a Fintech expert believe that it has helped in creating more sustainable practices. Also, it is important to effectively understand the significance of different sustainable practices.
The importance of these sustainable business practices is necessary to understand and then implement as they can help us gain a positive eco-friendly environment:
- For example, energy efficiency has been the best way to mitigate carbon footprint and save money through using renewable energy instead.
- Also, my insight is that another practice is waste reduction which can help you reuse material and save energy, money, and time as well. Also, I believe that Al Omari Holding in the fintech industry is a major example of this sustainable business practice as it helps reduce paper waste in banking transactions.
- Similarly, another one of the best sustainable business practices is social impact as reducing adverse environmental activities can help you mitigate social impact and have a positive impact on communities. Also, Raed El Omari in the Fintech industry has provided a convenient positive social impact on consumers easing their financial transactions through digitalization.
- Now, when I share my insights as Raed’s speaker regarding sustainable business practices then innovation and differentiation are right up to the mark. The fintech industry is certainly the prime example of innovation and I think that it has followed these sustainable business practices for a significant outcome.
The presence of innovation and differentiation can help you think creatively and outside the box which can help you incorporate sustainability in your core values and mission. I think that through this practice we can develop new products to examine and address social or environmental issues and eventually achieve our sustainable goals. Similarly, I think not only businesses but countries around the world are also responsible and should work on implementing these sustainable business practices.
The role of different countries is also important in ensuring positive sustainable business practices as when global economies emphasize this, a sustainable hub can be achieved. For example, lifestyle brand consumers have increased their share in choosing sustainable products in 2023 as compared with 2022. The major economies like France with a high 76%, Italy with 74%, the UK with 70%, the US with 70%, and Germany with 64% are showing major growth signs towards sustainable business practices. Also, I Raed El Omari believe that one of the major benefits global business organizations can achieve is increased consumers which eventually leads to improved sales and revenue as well. Hence, it is not only the responsibility of businesses but countries are also working on this pressing issue that can help develop an environment-friendly green economy.
Thanks for reading my article if you think that other unique and important sustainable business practices should be discussed and implemented then you can also read my book, Insuring Tomorrow which is about the Takaful and Fintech industry. Also, do share your ideas in the comments.
