In the guest post below, Julie Urlaub, Founder and Managing Partner at Taiga Company, explains how managing sustainability risk can become a business opportunity.
by Julie Urlaub
The next time you have a moment, try a simple exercise: write down the five biggest risks facing your company, the five biggest opportunities on the immediate horizon, and the five most important pieces of information you are lacking that could have a huge impact to future success. You may be surprised to see business sustainability concepts are all over the page. The ability to connect the dots on the paper requires the right business intelligence resources to capture and leverage the information.
What is on your sheet? In our professional consulting, the most common feedback we receive from business leaders is: there aren’t any business sustainability opportunities on my paper. Why should I pursue action without reward? The answer is simple: managing risk can become a business opportunity.
Whether your company is just becoming familiar with the concept of business sustainability or is sustainability leader in your industry, sustainable performance can no longer be viewed as an option. If valued by your stakeholders, sustainability can become a risk or an opportunity. According to BSR, reviewing and reflecting on business sustainability strategies is especially important for companies with investors who care about why and how they expect to create value with their efforts.
Implementing sustainable business strategies in any organization requires a complex mixture of finesse: realistic, achievable and measurable. Finding that magical balance is what is required to make change stick. Click here to continue reading.