Better Business is a key milestone
"Like the digital revolution before it, the sustainability revolution promises to change everything. Yet, just as with digital, many companies are moving too slowly, taking an incremental approach to a challenge that demands a radical rethink."
-World Economic Forum
The Sustainability Revolution is here, and today's sustainability trailblazers are leading the way. Better Business is a first and urgent milestone. Better Business is however not to be considered an end-destination in itself, but should rather act as an important bridge towards more regenerative business practices.
Why does this bring such potential? Better Business is simply an area already well developed by trailblazers like Patagonia, Interface, Ørsted, Unilever, IKEA and Oatly. And, there is a lot to learn from them to accelerate this important transformation over the coming years.
In its essence a Better Business can be described as a future-ready company with a long-term perspective - guided and inspired by its higher purpose. This helps the organisation create, deliver and capture value to its stakeholders. All while minimizing ecological and social costs, engaging its business ecosystem, and collaborating to change the world.
Our research shows that Better Business trailblazers such as Patagonia, Interface, Ørsted, Unilever, IKEA, and Oatly each have chosen their unique paths, but still have many things in common.
… have a long-term view and see business as usual as riskier than exploring new ways forward.
… show an interest in understanding the world around them and see the potential in contributing to the solutions of truly wicked problems.
… take proactive measures to co-create the future.
… proactively play on three systemic levels (their own organization, their business eco-system, and the world and society).
… have been through journeys of evolutionary change sparked by strategic insight, crisis, or even epiphanies – still, they continue to renew themselves over time.
… are guided by a higher purpose, which they have fully integrated into who they are and how they operate. Something that makes them highly attractive to talents.
… set high goals – or even Moonshots – and may even aspire to accomplish what others believe to be impossible.
… systematically work to improve their already solid foundations to further reduce their negative footprint.
… explore regenerative practices and meaningful innovation.
… apply transparent reporting practices and get rewarded by high ESG scores, which in turn attracts investor interest.
… work to challenge and support their industries and business eco-systems to elevate their practices.
… collaborate with others to change the world and society to the better.
Learn more in the new book, Better Business Better Future, written by Elisabet Lagerstedt, Founder and Principal of Future Navigators. A great read for entrepreneurs, corporate business leaders, board members, and strategists aiming to integrating sustainability into the very core of their business, and accelerate the transformation to a Better Future.
>> Available in online stores from mid-late January 2022.