Sustainability Initiatives

             Nowadays, companies are developing new strategies and policies to cut the cost of production to increase their profit margin on sales. Outsourcing, lean management, and developing long term relationship with the suppliers are commonly adopted strategies in the companies. However, sometimes efforts to decrease the cost of production causes to decrease the quality of their product or service also as a result rather than getting addition profit such companies face customer dissatisfaction and a decrease in sales. Somehow, big successful companies are paying attention to sustainability initiatives to maximize their return on sales (Alrashed & Asifa, 2014).

            According to the Hashmi, Abdulghaffar, and Edinat resaerch (2015), suitability initiatives enable the management of a company to decrease the cost of production and benefit the company in present without compromising in the future. If we take the example of Saudi Arabia we will find that many organizations in Saudi Arabia are getting benefits from sustainability initiatives. For instance, Saudi Aramco Company that works in the energy sector is currently taking advantage in the market through suitability initiatives (Hashmi, Abdulghaffar, & Edinat, 2015).

             Saudi Aramco Company is adopting advanced technology to reduce time in processes and to deliver high-quality products in the market. Technology use also supports them to make their processes environment-friendly and build a positive image in the market. The company is working to close the carbon cycles and support the hydrocarbon-based system. Carbon management solutions and clean energy technologies are the main suitability initiatives supported by the Saudi Aramco company. Innovative strategies adopted by the company are helping the government to make the energy production and transformation clean and safe for the environment. Furthermore, Saudi Aramco Company is now working to meet the requirements and conditions of the famous Saudi agreement “Paris Climate Agreement” that was ratified by the government of Saudi Arabia. According to the CEO of the company, Saudi Aramco Company is supporting Saudi Arabia’s aspiration in meeting sustainable goals and tackling the climate changes” (Gdnonline.com, 2019)