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Companies can continue creating value in the face of disasters, both natural and man-made, when they develop community resilience strategies.
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A growing number of investors are paying attention to environmental, social and governance (ESG) performance, as evidence mounts that sustainability-related activities are material to the financial success of a company over time. In this webinar, three co-authors of the latest sustainability research report share findings and insights from their research into how professional investors are incorporating sustainability practices into their decision-making.
Few companies have come right out and said that they serve stakeholders beyond their shareholders. But in 2015, the board of Sweden’s Atlas Copco set the bar for sustainability by including a statement of materiality and significant audiences in its annual report. Atlas Copco’s Statement shows how a company’s board can protect managers in the face of pressure from short-term investors so they can make the long-term decisions necessary for a sustainable strategy.
The Aspen Institute’s Business and Society Program is focused on developing business leaders for a sustainable society. One of its fundamental founding questions was, “If we want business to operate in a way that’s attentive to long-term value creation and an array of stakeholders, what kind of leadership do we need?” The solution: Aspen’s “First Movers” program, cultivating creative intrapreneurs dedicated to products and management practices that enhance profitability without negative social and environmental impacts.
This blog post is the first of a four-part series on sustainability-oriented innovation (SOI). The authors explain what SOI is, where and how it can be used, its impact, and its challenges. While many businesses are aware of SOI, they are struggling to shed the traditional tradeoff model that they have come to accept and rely on. Achieving sustainability-oriented innovation means taking off blinders, shifting away from deeply embedded mental models, and working closely with a more diverse stakeholder base.
At the 2015 Milken Global Conference, attracting and retaining talent is a hot topic. It used to be that the job negotiation formula was simple: salary, benefits and bonus. But that’s not enough anymore. The next generation wants something different from their work life than their predecessors — a more self-actualizing experience — and corporations are scrambling to decipher the keys to keeping employees engaged.
In a webinar recorded in January 2015, the speakers present findings from the recent global study they co-authored, “Joining Forces: Collaboration and Leadership for Sustainability.” The study, by MIT Sloan Management Review, The Boston Consulting Group and the United Nations Global Compact, shows that a growing number of companies are turning to collaborations — with suppliers, NGOs, industry alliances, governments and even competitors — to become more sustainable. The research found that companies are realizing that they can’t make the necessary impact acting alone.
In the 2014 Sustainability Report, new research by MIT Sloan Management Review, The Boston Consulting Group and the UN Global Compact, shows that a growing number of companies are turning to collaborations — with suppliers, NGOs, industry alliances, governments, even competitors — to become more sustainable. Our research found that as sustainability issues become increasingly complex, global in nature and pivotal to success, companies are realizing that they can’t make the necessary impact acting alone.
Risk mitigation drove chemical giant BASF to adopt a sustainability focus, initiating a chain reaction that transformed not only the company’s product lines, but its corporate culture. The company’s vice president of sustainability strategy, Dirk Voeste, explains the step-by-step process that BASF undertook to produce a company-wide shift in this massive organization’s mindset.
In an examination of the world of Corporate Social Responsibility insurgencies, Gregory Unruh looks the social dynamics within companies. What tactics can be used to identify and persuade other managers to join the sustainability cause?
Until recently, CSR executives have focused mainly on outward-facing programs that “talk the talk” of sustainability. But modern CSR directors are rebelling against this superficial model and engaging corporate culture at a deeper level toward more sustainable business practices.
MIT Sloan Management Review asked two professors who are sustainability experts to comment on Caesars’ progress thus far — as well as possible next steps for the company. Here are the experts’ perspectives.
This year’s sustainability and innovation survey — the fifth survey in collaboration with our knowledge partner The Boston Consulting Group — delves into questions of climate change. Make your opinion count by taking the survey and sharing the link with your colleagues.
Caesars Entertainment uses a scorecard to guide managers in its sustainability efforts. Developing the right scorecard took time, but it gave corporate managers an opening for sustainability discussions. Numbers also showed that the more information hotel and casino guests had about the things the company was doing to reduce energy consumption, recycle waste and rebuild the local community, the better they felt about the company — and the more inclined they were to visit again.
It’s only natural that a beer company would be concerned about water. It takes five liters of water, on average, to manufacture one liter of beer. When SABMiller mapped its water footprint and found that it took 45 liters of water to produce one liter of its beer in the Czech Republic, and 155 liters in South Africa, the company changed its water practices to make its beer more sustainable. An interview with SABMiller’s senior vice president of sustainable development explains how they did it.
Dan Hesse, CEO of Sprint, says that the company’s strong focus on sustainability is paying off in cost savings and long-term brand image — even if customers don’t yet pay attention to whether phones themselves are green.
Since 2010, MIT Sloan Management Review and The Boston Consulting Group (BCG) have been charting how organizations are responding to sustainability as a source of competitive advantage. This year we found that nearly 50 percent of companies have changed their business model because of sustainability opportunities. In this video, David Kiron, executive editor at MIT SMR, and Eugene Goh, a principal with BCG, discuss highlights of the report and specific company examples.
This is the fourth annual research report jointly produced by MIT SMR and BCG on the connection between sustainability and business. This year’s report focuses on who is profiting from their sustainability practices and why. Overall, respondents reporting profit from sustainability went up by 23% to 37 percent of the total. As we explore in detail, business-model innovation is the crux of sustainability profits for a majority of companies.
As Kimberly-Clark began down the path toward sustainability, it was confronted with layers of miscommunication between itself and environmental activists–not to mention a lack of real understanding among many of its customers and suppliers. Tom Falk, chairman and CEO of K-C, says that all that began to change as the company got better at listening.
Results from the fourth year of MIT SMR’s research collaboration with the Boston Consulting Group have found that managers who say sustainability has caused their organization to change its business model are also more likely to say that the organization’s sustainability activities have added to profits. Respondents to the survey who changed their business model also generated profits from their sustainability-related activities.
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