Building a sustainable strategy sometimes demands complex action plans involving multidisciplinary and interdependent areas of any organization. Such approach may come at high planning and interwoven execution costs, which may represent the first barrier at the decision making process on transitioning from an ordinary twentieth century business to a sustainable twenty-first century enterprise.
However, if your organization is indeed intending to incorporate the new business development model in its institutional framework, action shall not precede planning, and a simple road map to guide a first discussion on which actions should be given priority to during the transitional phase – however long it may last – will certainly fit a broader purpose. The following are the four key elements I believe lies at the core of a well planned head start.
Research & Development: R&D is the primary element in changing the ways in any organization, thus it provides technological solutions for current industrial processes that may release harmful residues to the environment, as well as new modes of product development. As we experience great increase in innovation initiatives along with growing incentives, having a strong R&D system may support consistent economic and intellectual property growth.
Measures of Compensation: Sustainability implies rational use of resources, and that means understanding the need of mitigating negative environmental and social impacts through reconstructive initiatives, such as the recovery of damaged areas, treatment of contaminated resources or restablishment of displaced communities. This may intertwine with the organization’s R&D capacity, for the development of specific technologies, or plans for community engagement in the cases of considerable social impacts.
Community Engagement: It is important to engage community members for awareness growth. This is the element conducting collective and collaborative transformation, which may be provided through capacity building and interactive educational campaigns.
Corporate Governance: It is essentialy important for any institution to publicly engage through incorporating governmental measures and combining internal and public policies in order to attract political support and stronger institutional recognition. At a time when private sector is continuously growing its active participation in development policies construction, incorporating external policy models may contribute to building holistic synergies between enterprises, market, society and government.