Identify your Better Business opportunity
A business opportunity is generally considered an opening in the business environment that - when exploited - can create economic value.
Good business opportunities normally align with an organization’s competences and skills, are relevant for the current and future business environment, are possible to finance, and are verifiable.
But if you do not understand the wicked problems in the first place, how could you go about seizing the related opportunities?
There is help. The Agenda 2030 was adopted in 2015 by all United Nations’ Member States. It provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. At its heart are the 17 Sustainable Development Goals (SDGs) and their 169 targets. The SDGs themselves actually provide a mapping of the world’s wicked problems.
Many organizations, for-profits as well as non-profits, are already working ambitiously and proactively with the 2030 Agenda goals. Looking to the SDG Compass, best-in-class organizations have understood the SDGs, and they seen the opportunities as well as the business case.
They have defined priorities, and set relevant ambitions and goals for their organizations. They have then anchored the sustainability goals within their enterprises and embedded sustainability across all functions. Finally, they have implemented effective follow-up and reporting, and are actively communicating about their SDG performance.
So far, overall progress on the SDGs is limited, and we are still far from reaching the goals. However, as UN Secretary General António Guterres observes: “It is abundantly clear that a much deeper, faster and more ambitious response is needed to unleash the social and economic transformation needed to achieve our 2030 goals.”
The fact that the progress so far has been relatively limited of course poses a large opportunity for those who choose to move decisively. Which SDGs could provide the largest opportunities for your business? And how could that help to build a better future?