Some interesting findings in this years' executive survey on how and why companies integrate sustainability practices in their short and long-term strategy. The most notable conclusion is that 'reputation management' is not the most cited reason for sustainable practices anymore -the top reason now is 'improving operational efficiency and lowering costs', which jumped 14 percent as the most mentioned reason. Other reasons score quite high as well: alignment with the companies business goals, developing new opportunities or retaining and motivating employees, for instance.
"In a related opinion piece, “
Putting it into practice,” at the end of this survey, the authors argue that more businesses will have to take a long-term strategic view of the issue by identifying and pursuing sustainability opportunities that hold the highest value potential."
Click here to access the survey report (after free registration on McKinsey Quarterly)
I guess one of the biggest reasons businesses haven't done more is the cost. I had to meet with a business consultant before arriving at a decision for mine.
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