By - Media Bytes
With the advent of the whirlwind of technology and digital transformation, business strategies and value creation in organizations are being influenced massively. In such a transformational time of huge alterations in the way businesses operate, it is imperative to look for ways which can help in sustainable expansions of business. This would help the businesses to grow in sync with the digital world.
Strategizing Evolutionary Approaches
The age of unconnected sustainability approaches, with consequent incorporation of sustainability into company stratagems, needs to end. The new technology advancements require the creation of robust business strategies that take sustainability as their groundwork for future sustainable growth of companies. Additionally, long-term value basis and strategies beyond short-term outcomes should be zeroed in on to bring about a positive transformation in the company’s sustainable growth. This is only possible if there is a leadership transformation in the approaches that frame the company culture.
Adapting to the Transformation
Companies should focus on adapting with the speedy digital change and adaptation involved with the technological progress. A company’s strategic foresight must be framed in such a way that it helps to recognize signals of transformation as well as explore numerous conceivable sustainable plans. The adaptation to transformation includes safeguarding that enterprise risk management (ERM) procedures that completely reflect on the sustainability problems such as climate resilience, natural resources, and others.
Edification Regarding Material Sustainability
In addition to structuring a panel with applicable sustainability qualifications, companies can offer trainings to current board members so that it helps them to frame policies keeping sustainability in mind. The emphasis of the trainings may be augmented with site visits and conferences from outside experts as well.
Key Focus Areas:
The Future of Sustainable Businesses?
Once companies start concentrating on the sustainability as a break for their development and value creation, they will be able to survive the digital transformation. Considering the concept of sustainability as the architect of value in companies; futurists and change agents should aim to strategize approaches such that the adaptation starts from the top of the management ladder. The conclusions from a materiality assessment should be utilized to plan internal engagement programs that focus on potential impact and proficiency for the sustainability schema in the company. This would help the company to gain traction, and shape prominence and sustenance in the process of sustainable development.