Sustainability Sustains Through The Downturn and Differentiates Winners in the Upswing
Monday, March 1st, 2010By Ron Benton and Kathleen Hosfeld
With a global economy in slow recovery and many businesses fighting for survival, what is the significance of sustainability thought, practices, and execution in shaping a better and more prosperous world? A just-released comprehensive global study conducted by MIT’s Sloan Management Review and partners provides some revealing and reassuring answers including the following:
- Sustainability is continuing to have a material impact on how companies think and act
- Sustainability is surviving the downturn
- Most firms are not decisively acting on the opportunities presented by sustainability
- A small number of firms are capitalizing on the opportunities and reaping the rewards.
What do these findings mean for you and your organization? In general, the findings affirm that thoughtful investments in sustainability will positively differentiate early adopters in their industries. The specifics depend on the issues your organization faces and where you and your firm are in your evolution of adopting and benefiting from sustainability practices.
The study also supports our assertion that engagement in sustainability has a developmental aspect to it. It says that those who have experience in sustainability see more clearly the business case and strategic benefits it can offer. Those with less experience don’t have a clear sense of the business case for sustainability. This suggests that a good way to explore sustainability is through a well-designed pilot. Well-crafted sustainability strategy projects can help companies explore the potential benefits of sustainability in ways that create value over the long and short term.
Read the MIT Sloan Management Report “The Business of Sustainability.”
Hosfeld & Associates and Ron Benton & Associates work together to offer services to help companies thrive in the sustainability economy. Additional details are available here.
