After speaking to hundreds of sustainability professionals, senior business managers and industry thought leaders, gauging opinions on what best practice looks like when it comes to structuring sustainability, we have been able to produce this report.
To Sustainability & Beyond... Will Integration Ever Become the New Norm?Amelia Green
After speaking to hundreds of sustainability professionals, senior business managers and industry thought leaders, gauging opinions on what best practice looks like when it comes to structuring sustainability, we have been able to produce this report.
Sustainable business? Time to change our story…Mike Townsend
From the archive - published in Sustainable Business magazine, March 2014: We talk about sustainability becoming embedded in everything we do, as part of our corporate DNA. It is certainly true that sustainability has come a long way over the last decade – and with each step, we’re getting closer to the heart of business strategy and decision-making – but we’re not there yet. Perhaps it is time to change our story?
When Darren Entwistle became CEO of Telus in 2000, the Canadian telecommunications firm was a solid but unspectacular amalgamation of two former regulated telephone utilities. Since then, the company has experienced a notable transformation. During the last 15 years, few companies have delivered as consistently on almost all metrics that matter. Telus’s revenue has doubled from US$4.5 billion in 1999 (CAD$5.9 billion, using 2015 dollars) to $9.2 billion (CAD$12.0 billion) today. The company has become the global leader in total shareholder value creation among incumbent telecommunications companies worldwide, returning 351 percent to shareholders between 2000 and the present. It has the lowest customer churn rate of any major wireless carrier in North America, and receives customer satisfaction ratings among the top tier on J.D. Power. And Telus’s employee engagement score stands at 85 percent, a world-best for a company of its size and workforce mix, according to Aon Hewitt.
Telus demonstrates many of the usual characteristics of “good management,” such as a focus on execution, people, and talent, as well as clearly articulated goals. But there’s more to the story of the company’s ascent. A closer look reveals an organization that has demonstrated an unusual consistency of focus, in terms of both its business strategy and its culture.
This document provides a guide for corporate executives on successful collaborations between corporations and startups. It discusses why corporations should engage with startups despite seeing them as threats, as partnerships can create value for both parties. It presents a three-step approach for corporations to define objectives and select suitable startup engagement programs. Case studies illustrate transformative benefits like rejuvenating culture, innovating brands, and solving business problems. The guide concludes with lessons for designing, measuring, and implementing effective startup programs.
This document discusses factors that improve productivity. It identifies five main elements: managerial and financial controls, Lean processes and operations, labor productivity and cost controls, asset productivity, and continual improvement. Other factors that can impact productivity include scale, markets, external factors, accurate information, process measurements, team structure, departmental methods, motivation, terms and conditions of work, materials utilization, and total procurement costs beyond price alone. Lean thinking emphasizes reducing waste and matching outputs to customer demands to boost productivity.
Operational effectiveness involves performing activities better than competitors, but it is not a strategy. While operational effectiveness improvements can create advantages, they are temporary and easy for competitors to copy. A true strategy requires performing different activities than competitors or performing similar activities in unique ways to create sustained advantages. The article argues that many companies over-rely on operational effectiveness initiatives at the expense of developing a distinct strategic position, leading to competitive disadvantages over the long run.
This document provides an overview of corporate-startup collaboration. It discusses why collaboration is important for innovation but also identifies some barriers that prevent all firms from collaborating effectively. Some key points:
1. Collaboration can help corporates solve problems quicker, access new capabilities, and expand into new markets. For startups, benefits include access to resources, customers, and funding opportunities.
2. However, not all firms collaborate because startups may bring disruptive innovations, collaboration requires a new mechanism for innovation, and the benefits are unclear.
3. Even when firms want to collaborate, there are internal barriers like strategy, culture, and processes, as well as external barriers like mismatches in communication speed between startups and
There are many companies doing fine in the face of this recession. Some are in the “right” industry, some have a “killer” product or service and some are thriving by design.
Companies that have the ability to weather and thrive regardless of the economic cycle have some common characteristics.
To Sustainability & Beyond... Will Integration Ever Become the New Norm?Amelia Green
After speaking to hundreds of sustainability professionals, senior business managers and industry thought leaders, gauging opinions on what best practice looks like when it comes to structuring sustainability, we have been able to produce this report.
Sustainable business? Time to change our story…Mike Townsend
From the archive - published in Sustainable Business magazine, March 2014: We talk about sustainability becoming embedded in everything we do, as part of our corporate DNA. It is certainly true that sustainability has come a long way over the last decade – and with each step, we’re getting closer to the heart of business strategy and decision-making – but we’re not there yet. Perhaps it is time to change our story?
When Darren Entwistle became CEO of Telus in 2000, the Canadian telecommunications firm was a solid but unspectacular amalgamation of two former regulated telephone utilities. Since then, the company has experienced a notable transformation. During the last 15 years, few companies have delivered as consistently on almost all metrics that matter. Telus’s revenue has doubled from US$4.5 billion in 1999 (CAD$5.9 billion, using 2015 dollars) to $9.2 billion (CAD$12.0 billion) today. The company has become the global leader in total shareholder value creation among incumbent telecommunications companies worldwide, returning 351 percent to shareholders between 2000 and the present. It has the lowest customer churn rate of any major wireless carrier in North America, and receives customer satisfaction ratings among the top tier on J.D. Power. And Telus’s employee engagement score stands at 85 percent, a world-best for a company of its size and workforce mix, according to Aon Hewitt.
Telus demonstrates many of the usual characteristics of “good management,” such as a focus on execution, people, and talent, as well as clearly articulated goals. But there’s more to the story of the company’s ascent. A closer look reveals an organization that has demonstrated an unusual consistency of focus, in terms of both its business strategy and its culture.
This document provides a guide for corporate executives on successful collaborations between corporations and startups. It discusses why corporations should engage with startups despite seeing them as threats, as partnerships can create value for both parties. It presents a three-step approach for corporations to define objectives and select suitable startup engagement programs. Case studies illustrate transformative benefits like rejuvenating culture, innovating brands, and solving business problems. The guide concludes with lessons for designing, measuring, and implementing effective startup programs.
This document discusses factors that improve productivity. It identifies five main elements: managerial and financial controls, Lean processes and operations, labor productivity and cost controls, asset productivity, and continual improvement. Other factors that can impact productivity include scale, markets, external factors, accurate information, process measurements, team structure, departmental methods, motivation, terms and conditions of work, materials utilization, and total procurement costs beyond price alone. Lean thinking emphasizes reducing waste and matching outputs to customer demands to boost productivity.
Operational effectiveness involves performing activities better than competitors, but it is not a strategy. While operational effectiveness improvements can create advantages, they are temporary and easy for competitors to copy. A true strategy requires performing different activities than competitors or performing similar activities in unique ways to create sustained advantages. The article argues that many companies over-rely on operational effectiveness initiatives at the expense of developing a distinct strategic position, leading to competitive disadvantages over the long run.
This document provides an overview of corporate-startup collaboration. It discusses why collaboration is important for innovation but also identifies some barriers that prevent all firms from collaborating effectively. Some key points:
1. Collaboration can help corporates solve problems quicker, access new capabilities, and expand into new markets. For startups, benefits include access to resources, customers, and funding opportunities.
2. However, not all firms collaborate because startups may bring disruptive innovations, collaboration requires a new mechanism for innovation, and the benefits are unclear.
3. Even when firms want to collaborate, there are internal barriers like strategy, culture, and processes, as well as external barriers like mismatches in communication speed between startups and
There are many companies doing fine in the face of this recession. Some are in the “right” industry, some have a “killer” product or service and some are thriving by design.
Companies that have the ability to weather and thrive regardless of the economic cycle have some common characteristics.
Canadian Credit Union Research Paper - Employee EngagementKim Parker, CMA
Credit unions face challenges in sustaining employee engagement. Research shows the top drivers of engagement for credit union employees are professional growth, organizational vision, and teamwork. However, member focus, which is important for credit union success, does not strongly drive engagement. To improve engagement, credit unions need to clearly tie member focus to their organizational vision and employees' professional growth opportunities, so employees see helping members as key to their own success and the organization's objectives. Strategies for engagement include ensuring opportunities for professional development, clearly communicating an inspiring organizational vision, and breaking down silos to encourage more collaboration between employees.
Long-term trends, driven by public policy and exponential rates of change in digital infrastructure, are fundamentally altering the global business environment. In this disruptive environment, family businesses need to challenge themselves – and this is an important responsibility for the next generation of family business leaders.
Lean Management Journal Tata Business Excellence ModelFraser Wilkinson
The document discusses the lean journey of Tata Steel Strip Products UK after being acquired from Corus. It describes how Tata implemented a business excellence model called the Tata Business Excellence Model (TBEM), which focuses on leadership, customers, and strategy. While Corus had implemented some lean initiatives like 5S and training, the TBEM approach led to a shift in thinking with a stronger emphasis on understanding customer needs. The TBEM process involves assessments of companies by business excellence professionals, exposing them to evaluating businesses holistically. This drove the leadership team at Tata Steel Strip Products UK to reflect on key business factors and how to better serve customers, laying the groundwork for a more successful lean implementation.
These case studies touch on subjects that all FMs know are central to our role, wherever you operate in the world, and pretty much whatever your role: procurement, innovation, technology, sustainability, talent management and health and safety. It’s quite a diverse list of subjects,
but there are common themes running through all six case studies. All these organisations seem to have worked out a similar formula for success that could be applied in any business, sector or region. Read More!
If your business relies on 3rd party suppliers for some of your success, how well do you tap into their expertise.
This paper gives some insight into why collaborating with your most important suppliers can secure competitive advantage.
This document discusses how to develop an innovative corporate culture. It presents a model of the key elements of an innovative culture, which are organized into six building blocks: resources, processes, values, behaviors, climate, and success. These building blocks are interrelated and impact each other. The document then describes several companies that exemplify different building blocks, such as IDEO's emphasis on values and behaviors that promote creativity. It also introduces an assessment tool that can evaluate an organization's innovation culture based on the six building blocks and identify strengths and weaknesses. Applying this tool helped one company recognize it needed to develop stronger creative leadership to expand successfully.
1) The document discusses ways for companies to grow creativity and innovation by focusing internally on their employees and organization. It provides examples of companies that have innovative business models, organizational structures, and practices that promote employee creativity.
2) Specific recommendations include hiring diverse employees, improving internal communication, aligning all changes to strategic goals, allowing employees time to develop new ideas, providing open access to information, reducing work pressures, allowing informal activities, focusing on sustainability, and encouraging serendipity.
3) The main sources of innovation are a company's own employees, so facilitating their creativity should be a priority for human resources departments.
In this year’s Salterbaxter MSLGROUP Directions Report, we are getting under the surface of the most significant movements, models and philosophies in sustainable business.
Joined by thought-leaders at the very cutting edge of their adoption and popularisation, we explore the context in which the movements has sprung up, from consumer pressure to the UN’s sustainable development goals.
Join the conversation on Twitter with the hashtag #SBDirections
The Why - Contracting Must Change and What will Happen if We Don't?thempowergroup
Session One - We must redefine the role of contracting in light of worldwide changes and the business context we live in, but how and where do we start - with our 'trading partners' or ourselves (businesses)?
As our world is changing (global reach, green, sustainability, immigration, etc.) so is the business context we work in. That change necessitates a change in the way we interact and contract with our trading partners.
Session One is directed at senior leaders and others interested in leading change and will focus on “why” the Contracting organization must change / evolve from an unnecessary cost to a competitive differentiator.
We will discuss what happens if you don't redefine the role of the contracting organization and explore the following questions:
Who are the key stakeholders (internal and external) that will be impacted by and / or facilitate the change?
What are the Stakeholder Decision Drivers?
Why it is important to move from competing to collaborating?
Why do adversarial relationships with trading partners destroy value?
What is the business benefit of making the change happen?
Wise Pivot is a strategy fit for the digital age that can help companies pursue new growth opportunities. Read more on how to choose your pivot wisely.
В нашем исследовании "Раскрытие силы инноваций" мы предлагаем инновационным компаниям решение пяти ключевых вопросов, чтобы впоследствии вы могли максимально эффективно использовать полученные инвестиции.
Обсудить отчет можно на странице PwC Startup Cloud в Facebook http://on.fb.me/11ZZJvU.
Transformation with a capital t mc kinsey & companySusan Murphy
1) Companies must prepare for major change when facing disruptive threats, such as a changing global commodities market or new fintech competitors.
2) Transformations require intense, organization-wide efforts to significantly improve performance, such as a 25% increase in earnings, through changes to growth, efficiency, operations and culture.
3) Transformations often fail because companies lack the skills, mindsets and commitment needed for large-scale, rapid change and leaders are unprepared to lead change rather than just delegate or maintain the status quo. Tilting the odds of success requires identifying a company's full potential, empowering a transformation office to drive change, and embedding a new execution culture.
The document provides an economic forecast and discusses whether the economy is on the upswing. It notes that by making proactive recovery plans now, organizations can be better prepared for economic improvement than they were for the downturn. The article also discusses how the federal government's economic recovery programs, such as the American Recovery and Reinvestment Act, are intended to boost sectors like infrastructure, education, and renewable energy in order to stimulate the economy.
Innovation is The New Constant Final ENGYasser Mahmud
The EPPM Board explored how organizations can foster innovation to drive business transformation. They found that innovation must be a strategic priority and involve contributions from across an organization, not just R&D. Customers should be the focus of innovation efforts. While culture change is required, tools like EPPM can help organizations select innovative projects, assess risks, and ensure successful execution to realize benefits. Budgeting specifically for innovation demonstrates its value and unlocks latent creative potential within organizations.
The document discusses how the economic downturn of 2008 exposed weaknesses in organizations and required new skills and approaches from functions like HR. It notes that HR over-relied on standardized models that impaired flexibility. The new economic environment demands pragmatism, strategic "organization-level solutions", and narrower metrics to assess impact. HR must help organizations adapt continuously to constant internal and external change through a focus on commercialism and outcome-driven thinking rather than processes.
When economic conditions are in constant motion, is it even possible to determine the “right” pay strategy?
For example, some company leaders believe high salaries are necessary to attract great people, but are concerned about having costly pay commitments if the economy is shut down again. Others think employee earnings should be tied heavily to performance, but wonder what metrics to use—and how to balance short versus long-term rewards. So, is one right and the other wrong?
The reality is there is no playbook for determining how to pay employees amid the kind of economic uncertainly we have been experiencing. So, what should you do?
This broadcast will help you answer that question. You will learn how to use compensation as a strategic tool and construct a rewards approach that is agile enough for changing conditions but enduring enough to work in any economy. We will, in fact, show you how to resolve the “higher salary versus bigger incentives” dilemma.
Making the Business Case for Sustainability Guide for PractitionersJeanne von Zastrow
A new, free guide for sustainability practitioners to use in helping to develop a plan to present and make the business case for sustainability initiatives, with many examples from the food industry.
Purpose Up - Doubling down in tough times by Barkley + JefferiesBarkley
Now is not the time to shrink back on sustainability and ESG criteria, it is time to double down with focus and clarity. These are the findings from our third annual report Purpose Up | Doubling Down in Tough Times, a joint research study with Jefferies.
Ten Key Elements to Sustainable Business Practices in SMEs. This tool combines together case studies and lessons learned from small businesses across Canada, the US and the UK.
The document discusses 7 best practices for sustainability that have helped organizations stay at the leading edge. These practices include: 1) setting sustainability goals and measuring success, 2) stakeholder engagement, 3) sustainability issues mapping, 4) sustainability management systems, 5) product life cycle assessment and design, 6) sustainability reporting, and 7) integrating sustainability into brands. It argues that while sustainability can generate revenue and reduce costs, most organizations are not taking full advantage of these tools and should prioritize implementing as many of these practices as possible to improve.
This summary discusses the risks of growth and how boards can better manage them:
- Many companies become so obsessed with growth that they forget the risks, which can destroy business value. Pursuing only growth and size is misguided and has led companies like Toyota and Starbucks into problems.
- Smart growth means managing the risks of growth. As companies prepare for better prospects after the financial crisis, boards must examine what growth means and how to mitigate its risks.
- A panel of directors and executives discussed that growth should not always be the top priority. It is important to maintain capabilities and invest in people as the business changes. Rapid growth that overstretches a company can lead to failures.
- Bo
Executing Business Strategies through HRM practicesBahadir Beadin
This document discusses how human resource management practices can help execute business strategies. It identifies four common business strategies - Pioneers, Trendsetters, Consolidators, and Reinventors - that correspond to different industry environments. Pioneers thrive in uncertain environments and rely on innovation, while Trendsetters focus on customer intimacy. Consolidators pursue efficiency in mature industries, and Reinventors transform when existing models are outdated. Effective HR practices must align with and support the core discipline of each strategy type to create competitive advantages through people.
Canadian Credit Union Research Paper - Employee EngagementKim Parker, CMA
Credit unions face challenges in sustaining employee engagement. Research shows the top drivers of engagement for credit union employees are professional growth, organizational vision, and teamwork. However, member focus, which is important for credit union success, does not strongly drive engagement. To improve engagement, credit unions need to clearly tie member focus to their organizational vision and employees' professional growth opportunities, so employees see helping members as key to their own success and the organization's objectives. Strategies for engagement include ensuring opportunities for professional development, clearly communicating an inspiring organizational vision, and breaking down silos to encourage more collaboration between employees.
Long-term trends, driven by public policy and exponential rates of change in digital infrastructure, are fundamentally altering the global business environment. In this disruptive environment, family businesses need to challenge themselves – and this is an important responsibility for the next generation of family business leaders.
Lean Management Journal Tata Business Excellence ModelFraser Wilkinson
The document discusses the lean journey of Tata Steel Strip Products UK after being acquired from Corus. It describes how Tata implemented a business excellence model called the Tata Business Excellence Model (TBEM), which focuses on leadership, customers, and strategy. While Corus had implemented some lean initiatives like 5S and training, the TBEM approach led to a shift in thinking with a stronger emphasis on understanding customer needs. The TBEM process involves assessments of companies by business excellence professionals, exposing them to evaluating businesses holistically. This drove the leadership team at Tata Steel Strip Products UK to reflect on key business factors and how to better serve customers, laying the groundwork for a more successful lean implementation.
These case studies touch on subjects that all FMs know are central to our role, wherever you operate in the world, and pretty much whatever your role: procurement, innovation, technology, sustainability, talent management and health and safety. It’s quite a diverse list of subjects,
but there are common themes running through all six case studies. All these organisations seem to have worked out a similar formula for success that could be applied in any business, sector or region. Read More!
If your business relies on 3rd party suppliers for some of your success, how well do you tap into their expertise.
This paper gives some insight into why collaborating with your most important suppliers can secure competitive advantage.
This document discusses how to develop an innovative corporate culture. It presents a model of the key elements of an innovative culture, which are organized into six building blocks: resources, processes, values, behaviors, climate, and success. These building blocks are interrelated and impact each other. The document then describes several companies that exemplify different building blocks, such as IDEO's emphasis on values and behaviors that promote creativity. It also introduces an assessment tool that can evaluate an organization's innovation culture based on the six building blocks and identify strengths and weaknesses. Applying this tool helped one company recognize it needed to develop stronger creative leadership to expand successfully.
1) The document discusses ways for companies to grow creativity and innovation by focusing internally on their employees and organization. It provides examples of companies that have innovative business models, organizational structures, and practices that promote employee creativity.
2) Specific recommendations include hiring diverse employees, improving internal communication, aligning all changes to strategic goals, allowing employees time to develop new ideas, providing open access to information, reducing work pressures, allowing informal activities, focusing on sustainability, and encouraging serendipity.
3) The main sources of innovation are a company's own employees, so facilitating their creativity should be a priority for human resources departments.
In this year’s Salterbaxter MSLGROUP Directions Report, we are getting under the surface of the most significant movements, models and philosophies in sustainable business.
Joined by thought-leaders at the very cutting edge of their adoption and popularisation, we explore the context in which the movements has sprung up, from consumer pressure to the UN’s sustainable development goals.
Join the conversation on Twitter with the hashtag #SBDirections
The Why - Contracting Must Change and What will Happen if We Don't?thempowergroup
Session One - We must redefine the role of contracting in light of worldwide changes and the business context we live in, but how and where do we start - with our 'trading partners' or ourselves (businesses)?
As our world is changing (global reach, green, sustainability, immigration, etc.) so is the business context we work in. That change necessitates a change in the way we interact and contract with our trading partners.
Session One is directed at senior leaders and others interested in leading change and will focus on “why” the Contracting organization must change / evolve from an unnecessary cost to a competitive differentiator.
We will discuss what happens if you don't redefine the role of the contracting organization and explore the following questions:
Who are the key stakeholders (internal and external) that will be impacted by and / or facilitate the change?
What are the Stakeholder Decision Drivers?
Why it is important to move from competing to collaborating?
Why do adversarial relationships with trading partners destroy value?
What is the business benefit of making the change happen?
Wise Pivot is a strategy fit for the digital age that can help companies pursue new growth opportunities. Read more on how to choose your pivot wisely.
В нашем исследовании "Раскрытие силы инноваций" мы предлагаем инновационным компаниям решение пяти ключевых вопросов, чтобы впоследствии вы могли максимально эффективно использовать полученные инвестиции.
Обсудить отчет можно на странице PwC Startup Cloud в Facebook http://on.fb.me/11ZZJvU.
Transformation with a capital t mc kinsey & companySusan Murphy
1) Companies must prepare for major change when facing disruptive threats, such as a changing global commodities market or new fintech competitors.
2) Transformations require intense, organization-wide efforts to significantly improve performance, such as a 25% increase in earnings, through changes to growth, efficiency, operations and culture.
3) Transformations often fail because companies lack the skills, mindsets and commitment needed for large-scale, rapid change and leaders are unprepared to lead change rather than just delegate or maintain the status quo. Tilting the odds of success requires identifying a company's full potential, empowering a transformation office to drive change, and embedding a new execution culture.
The document provides an economic forecast and discusses whether the economy is on the upswing. It notes that by making proactive recovery plans now, organizations can be better prepared for economic improvement than they were for the downturn. The article also discusses how the federal government's economic recovery programs, such as the American Recovery and Reinvestment Act, are intended to boost sectors like infrastructure, education, and renewable energy in order to stimulate the economy.
Innovation is The New Constant Final ENGYasser Mahmud
The EPPM Board explored how organizations can foster innovation to drive business transformation. They found that innovation must be a strategic priority and involve contributions from across an organization, not just R&D. Customers should be the focus of innovation efforts. While culture change is required, tools like EPPM can help organizations select innovative projects, assess risks, and ensure successful execution to realize benefits. Budgeting specifically for innovation demonstrates its value and unlocks latent creative potential within organizations.
The document discusses how the economic downturn of 2008 exposed weaknesses in organizations and required new skills and approaches from functions like HR. It notes that HR over-relied on standardized models that impaired flexibility. The new economic environment demands pragmatism, strategic "organization-level solutions", and narrower metrics to assess impact. HR must help organizations adapt continuously to constant internal and external change through a focus on commercialism and outcome-driven thinking rather than processes.
When economic conditions are in constant motion, is it even possible to determine the “right” pay strategy?
For example, some company leaders believe high salaries are necessary to attract great people, but are concerned about having costly pay commitments if the economy is shut down again. Others think employee earnings should be tied heavily to performance, but wonder what metrics to use—and how to balance short versus long-term rewards. So, is one right and the other wrong?
The reality is there is no playbook for determining how to pay employees amid the kind of economic uncertainly we have been experiencing. So, what should you do?
This broadcast will help you answer that question. You will learn how to use compensation as a strategic tool and construct a rewards approach that is agile enough for changing conditions but enduring enough to work in any economy. We will, in fact, show you how to resolve the “higher salary versus bigger incentives” dilemma.
Making the Business Case for Sustainability Guide for PractitionersJeanne von Zastrow
A new, free guide for sustainability practitioners to use in helping to develop a plan to present and make the business case for sustainability initiatives, with many examples from the food industry.
Purpose Up - Doubling down in tough times by Barkley + JefferiesBarkley
Now is not the time to shrink back on sustainability and ESG criteria, it is time to double down with focus and clarity. These are the findings from our third annual report Purpose Up | Doubling Down in Tough Times, a joint research study with Jefferies.
Ten Key Elements to Sustainable Business Practices in SMEs. This tool combines together case studies and lessons learned from small businesses across Canada, the US and the UK.
The document discusses 7 best practices for sustainability that have helped organizations stay at the leading edge. These practices include: 1) setting sustainability goals and measuring success, 2) stakeholder engagement, 3) sustainability issues mapping, 4) sustainability management systems, 5) product life cycle assessment and design, 6) sustainability reporting, and 7) integrating sustainability into brands. It argues that while sustainability can generate revenue and reduce costs, most organizations are not taking full advantage of these tools and should prioritize implementing as many of these practices as possible to improve.
This summary discusses the risks of growth and how boards can better manage them:
- Many companies become so obsessed with growth that they forget the risks, which can destroy business value. Pursuing only growth and size is misguided and has led companies like Toyota and Starbucks into problems.
- Smart growth means managing the risks of growth. As companies prepare for better prospects after the financial crisis, boards must examine what growth means and how to mitigate its risks.
- A panel of directors and executives discussed that growth should not always be the top priority. It is important to maintain capabilities and invest in people as the business changes. Rapid growth that overstretches a company can lead to failures.
- Bo
Executing Business Strategies through HRM practicesBahadir Beadin
This document discusses how human resource management practices can help execute business strategies. It identifies four common business strategies - Pioneers, Trendsetters, Consolidators, and Reinventors - that correspond to different industry environments. Pioneers thrive in uncertain environments and rely on innovation, while Trendsetters focus on customer intimacy. Consolidators pursue efficiency in mature industries, and Reinventors transform when existing models are outdated. Effective HR practices must align with and support the core discipline of each strategy type to create competitive advantages through people.
This document provides guidance for companies to develop breakthrough innovations that drive business success and help create a more sustainable world. It recommends having a balanced portfolio of innovations, embedding breakthrough innovation in company culture, and setting up management structures to support innovations. Breakthrough innovations are needed for companies to thrive in a world shaped by sustainability issues and help create a brighter future for all. The document offers insights and recommendations but acknowledges breakthrough innovation is difficult, with no single answer, and feedback will improve the guidance over time.
An Article on Sustainability: What is Sustainability, how and why it is important to Corporates, it's relevance and is it a Challenge or an Opportunity to Organizations.
This document discusses ways to make materiality assessments more effective and drive better outcomes. It argues that materiality is often too narrowly focused on reporting and outputs rather than driving real change. It provides five fundamentals to make materiality more impactful: 1) Focus on driving change rather than just reporting, 2) See the bigger picture of a company's sustainability journey, 3) Set clear objectives, 4) Think creatively about engagement, and 5) Involve influential internal and external stakeholders. When done well, materiality can help focus efforts, inform strategy, increase executive awareness, improve stakeholder relationships, and provide new insights.
[Salterbaxter MSLGROUP Directions] Materiality - Breaking Out of the Strait-J...MSL
Materiality can help to deliver a range of valuable outcomes, but all too often the process ends up being nothing than a costly rubber-stamp; a matrix of prioritised issues, that’s finalised, published, and then… nothing. Our Salterbaxter MSLGROUP team present five materiality fundamentals, which are important considerations that can help improve results no matter where a company is on its journey.
Leadership requires collaborative innovation to drive companies forward. Innovation provides incremental value to customers at the same cost and is key to growth and survival. Collaboration and co-creation helps mitigate the risk of spending on products and services that do not provide value to customers. Influencing others is more important than authority, as those with influence who can help others will be trusted and followed. Global improvement and influence leads to sustainability.
Digital Health Success Stories (and Failures) Report - Part 2Tom Parsons
Part 2 of our report looks closely at some of the high profile failures to date in order to highlight warnings signs for projects and collaborations in the future. You’ll hear from Skip Fleshman, General Partner at Asset Management Ventures, about his perspective on the enormous investment being pumped into the market and how it should be managed. You’ll get an insider view from Cure Forward and Imperial College Health Partners about some of the reasons behind failures they have experienced and what we can learn from them. And through 2 case studies, you’ll learn more about how transparent and accurate results and trials are integral to ongoing development and success.
PRESENTATION: Why the conventional perception of supplier relationships needs a refresh.
------------------------------------------------
Challenge conventional thinking in your business.
Proxima offers a refreshing approach to understanding and orchestrating the complex network of external assets that fuel your business’ success. Your suppliers. We call this approach Catalytics®.
Find out more here http://www.proximagroup.com
In an ever changing and dynamic business environment, every organization goes through phases of uncertainty and challenge. The organization's intrinsic ability to bounce back during this period is its core survival skill also known as Business Resilience. Facilitating leaders and managers with the mindset needed to be resilient and to help the organization cope with trying times.
Auraa Image Management and Consulting specializes in facilitating leaders, managers and organizational teams with the proficiency needed to be resilient not just to bounce back but to bounce forward.
If your organization is going through a challenging phase or it has witnessed a setback, building resilience will help restore its power. Connect with us and learn how to build resilience and be prepared for future.
Contact: +91 9958934766 / +91 7830222285
Email: samira@auraaimage.com / nayanika@auraaimage.com
Website: https://auraaimage.com / https://samiragupta.com/
Executive Summary | 2015 –2016
How authentic companies behave in a more demanding world
The gap between what people expect and what they experience reveals which companies are more likely to succeed today. Consumers expect companies to align their brand promises with realities of their reputation through honest, direct communication. Expectations of how management behaves are rising, requiring companies to discuss more than just products. Authentic engagement comes from bridging gaps between audience expectations and experiences.
This document discusses dispelling myths about perceived trade-offs between profitability and sustainability. It finds that:
1) While business leaders recognize sustainability's importance, many see it conflicting with short-term profits. However, research found this trade-off may be a myth not backed by evidence.
2) Sustainable products and business models are not scaling fast enough to meet demands. New criteria are needed to give leaders license to accelerate sustainable transformation.
3) Research with leaders found pursuing sustainability is seen as slower and less reliable than traditional approaches. However, sticking to "business as usual" is seen as more complex and costly than embracing sustainability.
A report on tips and hints to save your organisation costs. Published in 2010 still relevant today where businesses have focused on key areas and are now looking for additional savings.
This document outlines five ways for organizations to move towards next-stage sustainability: 1) find allies in unlikely places, 2) frame sustainability in different ways to different audiences, 3) recognize future trends from across the organization, 4) be prepared to act on opportunities, and 5) challenge the culture to support innovative, long-term value creation. Sustainability leaders provide examples of how they implement these strategies at their companies to advance sustainability goals.
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To Sustainability & Beyond... Will Integration Ever Become the New Norm?
1. www.wilburystratton.com
London | New York | Hong Kong | Melbourne
...WILL INTEGRATION EVER BECOME THE NEW NORM?
TO SUSTAINABILITY
& BEYOND...
WILBURY WHITE PAPERS NOVEMBER 2016
2. Not everyone “gets it”. Some of the old guard
in Procurement tell you they’ve muddled along
just fine until now without factoring in profitability.
Sure, further down the line there might be some
issues, but that’s your problem, not theirs.
Still, most people in the company like the idea
of profitability and it’s certainly popular with
the senior management. But there’s a definite
feeling that profit is a bit scary, a bit other,
a bit not-really-my-department.
And this one team, with these resources,
is responsible for ensuring your entire
business is in the black.
Sounds ridiculous, doesn’t it? You can’t run
a business if you treat profit like an optional
extra. And yet this is exactly the situation many
companies are in when it comes to sustainability.
Why is this? And more importantly, what can
we do about it?
Over the last few weeks Wibury Stratton has
spoken to hundreds of sustainability professionals,
senior business managers and industry thought
leaders, gauging opinions on what best practice
looks like when it comes to structuring
sustainability. Nearly all companies now
acknowledge they need to be more sustainable,
either because they are sensitive to increased
consumer pressure around social and environmental
issues or because they recognise the long-term
financial implications of being ‘unsustainable’.
Furthermore, we found consensus across the
market that sustainability needs to get out
of its ivory tower and into everyone’s way
of doing business. But words, we discovered,
are not always translating into action. What
we might call the ‘traditional’ sustainability
structure – the one parodied above – continues
to dominate. Why?
Well, for starters, there’s no template for
sustainability. No shining beacon that everyone
can look to for inspiration. That’s not to deny that
a lot of good work is being done; but even industry
trailblazers don’t have a model that can be lifted
wholesale into another company. Embedding
sustainability is a complex business, requiring
both financial and cultural investment as well
as a noticeably long-term outlook. To a greater
or lesser extent, we are all in uncharted waters
and most businesses can expect some rough seas
ahead. But we at Wilbury Stratton like to think
that our recent research has given us, so to speak,
a privileged view from the bridge. This is what
we see through our telescope...
Not communication in the
PR sense – about which
more below – but rather
ensuring clear reporting
and accountability lines.
There’s no reason why complex sustainability
structures can’t work effectively when these
are carefully considered and implemented.
One well-known FMCG company has
sustainability resource that sits across no fewer
than five functions, incorporating eleven task
forces/committees and with dedicated professionals
across several different regions and brands.
On the face of it, this set-up looks positively
(and unworkably) labyrinthine; yet, thanks
to clear reporting lines, strong central leadership
and clear lines of accountability the company
has one of the most effective sustainability
structures we encountered. In contrast, we’ve
seen small global teams of under ten people
whose tangle of reporting lines makes effective
management impossible. It’s vital to keep formal
and informal channels of dialogue open, and
to clearly define who owns which initiatives.
communication
is key
Imagine having a dedicated team that is responsible
for making your business profitable. They have a small
central budget and they’re probably based in head office
with the Corporate Comms guys. The team is committed
and enthusiastic. They have ambitious goals to reduce
expenditure, talk excitedly about the drive to make money,
and work hard to get across the message that profit
is good for everyone.
TO SUSTAINABILITY & BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM TO SUSTAINABILITY & BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM
CONCLUSION:
Bigger is not always better
unless your sustainability
team has clear lines
of dialogue, both internally
and with the wider
business.
3. keep the PR
machine at
arm’s length
To put it bluntly: if your PR team is too close, you’re doing
it wrong. Of course it’s important that achievements are
communicated effectively to consumers and shareholders.
But having sustainability owned by your PR function leads
to a distortion of actual progress, and a papering over of the
cracks where teams are critically under-resourced.
What’s more, these days you’re never going
to attract or retain the best sustainability
talent unless you can show you mean business.
Sustainability people tend to be an upbeat
bunch anyway, but there was notably higher job
satisfaction in businesses where the sustainability
agenda is taken seriously along the value chain.
This trend was particularly evident among people
with a scientific, technical or NGO background,
and companies with a strong track record on
sustainability have a notably more diversified
talent base. From just one leading agribusiness –
widely considered the exemplar of this approach
– we counted among our respondents ecologists,
agricultural development managers, land use
specialists, climate change academics, agribusiness
managers, environmentalists, forestry specialists
and conservationists. Every one of them said
that they were attracted to the company
because it has a strong, proven track record
on sustainability impacts.
TO SUSTAINABILITY & BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM TO SUSTAINABILITY & BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM
The largest proportion of our respondents – over
30 percent – have their sustainability function
owned by Corporate Affairs, although the trend
is very definitely moving away from this model.
Unfailingly, these companies are the ones making
the least progress, with either lacklustre or curiously
unquantifiable targets. More than one respondent
lamented the glossing effect of shiny, meaningless
goals where there is no resource to back it up.
A source from a well-known food company told
us that his company “might make the numbers
look impressive, but I would question how
representative those figures are of the supply
chain as a whole... If I was sitting on the other
side of the fence, I would challenge corporates
a bit more on their targets”.
Corporate Affairs
Business Units
Dedicated Sustainability Department
Supply Chain/Procurement
R&D
OWNERSHIP OF THE
SUSTAINABILITY FUNCTION “I see cynical people
in other companies for
whom the sustainability
function is just a
damage limitation
exercise...if you have
a patchy record of
achievement you will
struggle to retain
good staff.”
SUSTAINABILITY SOURCE, SEPTEMBER 2016
31.3%
21.9%15.6%
21.9%
9.4%
CONCLUSION:
Talent attracts talent –
if you really want
to make a difference,
put the experts
in charge.
4. motivate
educate
However, one commodities company strongly
disagreed with this approach, reasoning that
sustainability should be an integral part of
every person’s job and as such should not
be additionally rewarded. Interestingly, the
company in question is widely acknowledged
as the leader in sustainability in the sector,
which suggests that we may see a shift away
from sustainability incentives down the line.
But instilling best practice is not just about
incentivizing: it’s necessary to train staff so they
are empowered to practice sustainability
in their own work. Some companies are investing
considerable resource in staff training; but across
the market the subject of internal training was
usually mentioned only in passing or, often,
not at all. This sits rather awkwardly alongside
a positive mania for farmer training programs.
Everyone even tangentially connected to raw
materials production has a flagship grower
training initiative, and yet the undeniable logic
of empowerment through training seldom extends
to companies’ own employees. However, we would
argue that this is the only realistic way to truly
embed sustainability into a business.
The subject of incentivising – specifically, linking
employee rewards and bonuses to defined sustainability
targets – was unexpectedly polarising. The vast majority
of respondents (a whopping 95 percent) were in favour
of sustainability incentives to encourage good practice,
with some companies now linking up to 40 percent
of senior management bonuses to sustainability goals.
TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM
Only 20% of companies
we surveyed are actively
investing in internal staff
training programs
CONCLUSION:
Staff empowerment
is the best route
to achieving your goals
(and a few rewards along
the way won’t hurt).
5. Such collaborations are prevalent throughout
the market and are producing some great
outcomes on the ground. Good strategic
partnerships can be found across different
industries and the best are leading innovation.
There’s the global garment manufacturing company
that has partnered with a thought leader in marine
conservation to produce a range of footwear
made from entirely reclaimed ocean waste.
Or the partnership between an FMCG company
that uses its three targeted social innovation
funds to support on-the-ground initiatives
in all its production areas, with projects ranging
from sustainable milk production, to tackling
malnourishment in children, to encouraging
access to the labour market through professionalised
recycling schemes. For many companies, considered
partnerships with local, boots-on-the-ground
organisations is both the most practical and
efficient means to make an impact.
However, there is a definite overuse of the term
‘partnership’ as a euphemism for funding, with
some companies mistaking throwing money
at the problem for addressing underlying issues.
This approach was roundly rebuked by a leading
NGO executive who argued that this is, at best,
an inefficient use of valuable resources. At worst,
it can lead to unscrupulous providers skimming
money out of sustainability budgets to cushion
their own bottom line.
On the face of it there doesn’t seem to be much
difference between the different sectors, but
it is worth noting that the figures can skewed
by outlier companies. Commodity houses, for
example, would average 18.5 average partnerships –
or just over half the stated total – without just one
market-leading business (which partners with 93
external organisations).
TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM
resource
is not the same
as expertise
That said, some on-the-ground projects require
a degree of technical know-how that can’t realistically
be maintained in-house. This makes things tricky if that
expertise is vital to implementing or scaling your initiative.
The logical solution to this is to cultivate partnerships
with external organisations.
Commodity Houses
Food Companies
Beverage Companies
Garment Manufacturers
FMCG Companies
AVERAGE NUMBER
OF PARTNERSHIPS
36%
59.3%
45%
39.5%
44.5%
CONCLUSION:
You can’t buy sustainability.
But there’s nothing
wrong in getting some
outside help.
6. get in on the
ground floor...
But a reactive approach risks sending out the
wrong message: that sustainability is at best,
a bolt-on to the business or, at worst, a kind
of corporate laundry service for cleaning
up your business’s mess.
So the smartest companies are now looking
at sustainable design, working closely with
RD teams to tackle sustainability issues
at the heart of the value chain. They are also
building sustainability into growth areas, and
challenging suppliers to create meaningful
change in their own operations. A leading
FMCG company, for example, is actively
bringing sustainability and RD together
under the leadership of a VP for Innovation
Sustainability.
Sustainability projects and initiatives, however well
intended, are often after the event. This is to an extent
natural – many sustainability teams were born out of risk
mitigation initiatives or in response to a high-profile issue.
Added to this, many teams still lack the resource to take
a pre-emptive approach.
TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM
The aim is to embed sustainability in product
development, and this approach is very much
viewed as a motivator for growth and an opportunity
to better meet the needs of consumers. Similarly,
a well-known agribusiness has based its entire
upstream growth strategy within a sustainability
framework, and sources were keen to point out
that this is not simply a feel-good gesture, but
forms the very basis of the company’s commercial
differentiation. Across the market, all the leading
players are placing sustainability at the core of their
growth plans, anticipating increasing demand from
sustainability-savvy customers.
CONCLUSION:
Staying ahead of the
sustainability curve will
prevent a costly clean-up
operation later.
7. ...but lead from
the top
A sustainability professional at a leading
commodities company confided to us that
her CEO’s public announcement of a key
environmental goal was a “game-changer”.
Suddenly, she told us, everyone in the company
wanted to talk to her whereas before she had
encountered widespread resistance.
Across the market, fully 75 percent of our
respondents credited their successes in sustainability
to a strong, charismatic leader at the highest level
pushing the sustainability agenda. Of this,
45 percent credited the CEO, 25 percent credited
a CSO or equivalent head of sustainability,
and five percent credited their company’s CFO.
There is also increasing demand for sustainability
leaders to have a commercial background.
As one trader-turned-sustainability lead said,
“my background gives me credibility and shows
I have a business head, that I’m not just some
tree-hugging activist brought in from outside”.
Buy-in at executive level is fundamental. Sustainability
can mean tough calls about the bottom line – at least
in the short term – and decisions need to be driven
or fully supported by those at the top. The consequences
of senior leaders getting on board can be transformative.
TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM
75% of respondents
credited their company’s
sustainability successes to
strong C-Suite leadership
CONCLUSION:
To borrow from Euripides,
“ten soldiers wisely led
will beat a hundred
without a head”.
8. maximise
your reach
impact
The best way to achieve real results is to focus on your
key impact areas. What might be termed the scattergun
approach to sustainability – alternatively known as the
‘let’s make everything sustainable in all our operations
by 2020’ method – has led to overstretched teams at the
same time as diluting impact on the ground. Whether your
impact area is defined by commodity, geography, brand
or issue, the best outcomes are achieved by targeting
resources where they can make the most difference.
TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM
This approach is not uncontroversial.
At best, strategy is driven by robust research
and a considered analysis of best outcomes.
At worst, it’s driven by customer demands
that distort impacts and divert resources from
more pressing issues. Palm oil is the key culprit
here. Absolutely everyone has a policy on palm
oil these days, and while no one can disagree
that the human and environmental issues
surrounding palm oil production need to be
urgently addressed, more than one respondent
bemoaned the amount of resources being diverted
into a tiny area of their operations, to the detriment
of less high-profile initiatives. One leading FMCG
company, for example, has palm oil as its key
sustainability target despite consuming less than
0.1 percent of worldwide production.
The approach also demands a certain ruthless
pragmatism that doesn’t always sit easily with
what sustainability teams are trying to achieve.
Nonetheless, the companies doing this best are
not afraid to stick to their guns, and increasingly
have the outcomes to prove it. One well-known
global food and beverage company is focusing
on just four key commodities (of which palm
oil is not one), and is achieving real impact
around the key issues of each.
CONCLUSION:
Forget the old saying –
this is one occasion when
putting all your eggs in one
basket might actually
be a good thing.
9. Wilbury Stratton is the leading international executive intelligence firm. Over a third of the FTSE
100 rely on the information we provide to make informed decisions on the strategic direction
of their business. Whether understanding their competitive landscape and the talent that lies
within, mitigating leadership risk or benchmarking their own people, we provide relevant and
actionable information to organisations that transcends geographies, functions and industries.
For a confidential discussion about your requirement please call
+44 (0) 203 727 3333 or visit www.wilburystratton.com
TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM TO SUSTAINABILITY BEYOND WILL INTEGRATION EVER BECOME THE NEW NORM
so,where does
all this leave us?
Are we all adrift, or, worse still, up the creek without
a paddle? Well, we certainly don’t think so, although
we can’t claim that it’s going to be plain sailing
for sustainability.
Our overall impression (just to exhaust the
metaphor entirely) was of a flotilla of ships bobbing
towards the horizon without a compass. Business
leaders are saying the right things. Many are even
talking about going “beyond sustainability”
– that is, making sustainable business practice
so fundamental that it no longer needs talking
about, in the same way that no one needs telling
a business should be making money. And that
is obviously good news. But quite how we arrive
at this brave new world seems open to question.
We trust that our own findings might begin
to point the way...