In the near future, economic success will increasingly require the harmonization of economic, ecologic and social dimensions. Thus, a holistic understanding of sustainability is imperative, and the race from ESG to sustainable management is imminent.
First and foremost, sustainability has to be integrated into corporate strategies and business models, becoming somewhat of an ambition for companies everywhere. Global standards are expected to change, gaining more influence on business performance, while corporate initiatives must be cross-functional responsibilities, carefully distributed, with the scope of achieving a common sense of urgency and commitment.
Not only is this a trending topic for businesses and financial enterprises, but for consumers as well. Change is increasingly demanded by end users everywhere, as they become more environmentally aware and demanding of businesses to make their value creation more sustainable.
Since ESG is not a parallel event, it must be placed at the center of the company, and fully integrated across all stages, while the shift towards sustainable management is not a trend, but a marathon towards a new era of corporate understanding and culture, that will ultimately lead to achieving long-term transformation.
Furthermore, all processes of the value chain and value network, respectively, should integrate sustainability into day-to-day business and change accordingly. Implementing and integrating the right strategies and programs are crucial for these aspects to become anchored in businesses’ management.
Sustainability, therefore, has to become part or corporate culture and management and, as behind every successful race is a successful trainer, this responsibility falls on managers’ behalf. Corporate culture is one of the most important success factor for companies, since it defines the space of what happens, it drives employees to reach performance goals and ensures the integration of sustainability – both in thinking, and in action.
All in all, the driving forces for sustainability are changing – the future is in the hands of employees, investors and consumers, while its positioning has moved from the periphery to the center and must be taken into account everywhere, both in company context, and for the entire value network. Hence, this topic can no longer be ignored and now is the ideal time to act!
