The term has been on for a while now, but is still quite unknown for most.
So what does a regenerative business stand for?
Regenerative business can also be referred to as a responsible business.
Let’s go a little bit back to the word “regenerative” or “regeneration” and what it means.
First and furthermost Regeneration starts with agriculture, farming, and how the planet is treated. It is often related to sustainability, which is a booming trend worldwide right now.
However, sustainability comes from the word “sustain”- and means to “support”, “nourish” according to Merriam- Webster online dictionary. It is more about supporting the environment and minimizing the pollution, and damage that is already done to our planet and the environment. Sustainability follows a broad range of practices and principles.
Regeneration acknowledges the principles of sustainability and adds to them. Regeneration stands for “restoring”, “recreate” (Miriam-Webster Dictionary). It adds ethics to it both people and the environment. It is not enough just to sustain, we must go beyond sustainability, take responsibility, restore, recreate & review our planet and leave it in a better place.
Regeneration has gone beyond the agriculture industry to other industries. Manufactures, pharma, therapy, design, and supply chains, mostly in the US. It has especially become a popular approach within the tourism industry worldwide, including Norway. The regenerative approach can be used in any kind of business no matter how small or big it is.
Regenerative business model focuses first of all on the people in the center of business, then, the missions and lastly, finances. “Regular” type of business focuses on the money transaction first, then the mission and lastly on people. That’s why the priority of regenerative business approach is really important for the ethical and fundamental assumption, that the most important part of the business itself is the people.
By investing in Human Resources, being ethical, keeping them happy and developing your employees. That’s the key to bringing great value to your business in the long run. This is not only about internal people within the business, but also external like customers, stakeholders, suppliers too. People you invest in will create the capacity to proceed with the business mission, also generate long-lasting income.