The Refinishing Touch Blog

In one of our favorite Harvard Business blogs - Leading Green - Bob Lurie posted a fascinating vision on the new social contract for green businesses, and the new relationship of sustainability between businesses and society.

Lurie explores a new social contract that will demand businesses to be ready for sustainability: to have processes, cultures, resources and organizational capabilities that will all align with the goal of sustainability. He outlines a new order, and a shift that has changed the role of government regulators. This shift means that when it comes to sustainability businesses will no longer just respond with "static compliance."

Now, driven by additional scrutiny and a 'social contract' with an environmentally-aware public and recognized efforts of non-governmental organizations (NGOs), there is a new approach demanded of businesses. Yet businesses are not ready to embrace sustainability as they have historically put it into "the compliance bucket." This is all changing.

We agree wholeheartedly with Lurie's view: sustainability is a moving target – which means businesses need to embrace a process of continuous sustainability improvement, and see sustainability as a core part of their operating strategy. It's no longer about how businesses comply, it's how they embrace sustainability as a way of doing business and incorporate it into every level of their processes, culture and operations.

Labels: Business, Compliance, Green, Sustainability

During this tough economic climate, the hotel industry along with others are re-evaluating business practices and devising plans to sustain. It's important to focus on sustaining current hotel properties by looking at existing assets for the short term in order to thrive in the long run.

In a recent article entitled 'Hotels Try to Adapt to Hard Times,' the focus was on the hotel industry's resolve to attract travelers during this slump. Last year, the Sheraton had 54 new hotels financed which are scheduled to open this year, at a rate of one every three weeks. These new hotels are opening during a challenging time when existing hotels are currently struggling to sell existing rooms.

To save, hotels are exploring closing on-site gyms, decreasing room service hours of operation, reducing operating hours of business centers and closing floors. While these are options, they are not the only solutions.

It's time to focus on asset management. It's time to take funds for outfitting new properties and look at ways to enhance existing hotels with the assets they have on site. We, at The Refinishing Touch, believe in the three R's - refurbish, refinish and reupholster, to make existing assets as good as new, as a solution to help. Furniture may look worn or outdated, but this is no reason to opt to buy new - no matter the state of the economic climate. It is cost efficient and more effective to utilize and update existing assets to save on the bottom line.

Labels: Asset Management, Business, hotel, renovation

How can a recession translate into a greener economy? Recently, we discussed techniques for sales divisions to adopt for increasing business. Now, we'd like to focus on another initiative that all companies should take into consideration during a time of recession - taking time to revaluate current business practices. No matter what the current status of your business is during this time of turmoil and uncertainty, it's essential to look at your business, revaluate practices, and strategize new tactics to increase productivity and the bottom line as well as save money.

In a recently article entitled, "How the Recession Means More Green Buildings (and Why That's Good for the Economy)" shines a green light on the current economic depression we are in. While many companies revaluate business practices, it is also important to also consider the consumer and what is important to them as we move through these difficult economic times. In a survey done by the Opinion Research Corporation, 73% said they would pay more for products that are better for the environment and 89% said they would pay more for products that will reduce heat and cooling costs. Consumer behavior seems to be following the trend of "going green." With this in mind, businesses should consider ways to go green with the consumer in mind and areas that are most important to them when it comes to going green. This will not only cause an increase in sales, it will also cut overall costs in the long run. Consumers and businesses want to affiliate with companies that have a green plan and doing their part to help the environment.

With 2009 just around the corner and President elect Barack Obama preparing for office by assembling a green dream team, we at The Refinishing Touch believe green renovation is one of the most important ways business' can improve the environment and the bottom line. We have been in business for over 30 years, focusing on renovation and refinishing which not only benefits the environment but also helps your company in the long run. We are looking forward to seeing the country move towards a more sustainable future through Obama's proposal of a new public works program which will include not only a great number of jobs, but a focus on energy efficient buildings. The demand to go green and focus on green renovation and remodeling may provide the boost the economy needs while also providing many new jobs.

Labels: Business, economy, Energy Efficiency, Green