There is no sustainability without profitability but without the right product there is no profitabilty. In a capitalist economy as we know it, a firm’s success most heavily depended on its financial performance, or the profit it generates for shareholders. Strategic planning initiatives and key business decisions are generally carefully designed to maximize profits while reducing costs and mitigating risk. In the past, many firms’ goals have ended there. But, now, purpose-driven leaders like us are discovering they have the power to use their businesses to effect positive change in the world without hampering financial performance. In many cases, adopting sustainability initiatives has proven to drive business success. Business integrity, identity protection for customers and workers, and responsible sourcing of material are key elements for us. When possible we adapt prices down as much as we can, in order to provide our customers with the best possible product at the best possible price. We use the height of identity protection methods to ensure customer and worker safety online. Even as we maintain the best of the best in quality, we do not compromise on responsible sourcing. We strictly adhere to guidelines such as the Kimberley Process, CIBJO Blue books and Responsible Jewellery Council.
Why is the triple bottom line important for us? To some, adopting a triple bottom line approach may seem idealistic in a world that emphasizes profit over purpose. Innovative companies, however, have shown time and again that it’s possible to do well by doing good. The triple bottom line doesn’t inherently value societal and environmental impact at the expense of financial profitability. Instead, many firms have reaped financial benefits by committing to sustainable business practices. In many situations, it's possible to do the right thing and make money at the same time. Indeed, there's good reason to believe that solving the world's problems presents trillions of dollars worth of economic opportunity.
Doing well by doing good. As the world’s most pressing challenges evolve, purpose-driven leaders are needed to spearhead initiatives that can spur positive change—but making those changes isn’t an easy task. Finding these opportunities and making them successful takes both real courage and grindingly hard work. It’s often the firms that have a purpose—beyond simply making money—that make the first move. Although the road ahead is long and uncertain, it’s important not to be discouraged. The first steps toward sustainability start with the individual. Little by little, firms like ours can unite around a common cause and have a real, measurable impact. That is the approach we are taking. A shared purpose can make firms both more productive and more innovative. But what's most important is that, in the end, our values are all we have.
In short, sustainability in business refers to the effect companies have on the environment or society. A sustainable business strategy aims to positively impact one or both of those areas, thereby helping address some of the world’s most pressing problems. Some of the global issues that sustainable business strategies help to address include climate change, income inequality, depletion of natural resources, human rights issues and Fair working conditions, pollution, racial injustice and gender inequality. Although it may sound like it, sustainability in business is not purely altruistic. You can't use business to do good in the world if you're not doing well financially. Doing well and doing good are intertwined, and successful business strategies include both.
The world is full of uncertainty. Monumental challenges—including climate change, poverty, and inequality—are at the forefront of daily life and seemingly becoming ever more urgent. One thing that isn’t uncertain is the need for change. TopTanzanite recognizes this hence their desire to continue to profile ourselves internally and externally by doing good by doing well throughout our entire value chain. From the inside out.