Principles of Sustainable Business: Frameworks for Corporate Action on the SDGs

Description

The basic function of companies is to add value to society. Profits are a means to an end, not an end in itself. The ability of companies to innovate, scale and invest provides them with a powerful base for positive change. But companies are also criticized for not contributing sufficiently to society’s grand challenges. An increasingly VUCA (Volatile, Uncertain, Complex and Ambiguous) world creates serious governance gaps that not only require new ways of regulation, but also new ways of doing business. Can companies effectively contribute to sustainable development and confront society’s systemic challenges? Arguably the most important frame to drive this ambition was introduced and unanimously adopted in 2015: the Sustainable Development Goals (SDGs). The SDG-agenda not only defines a holistic set of global goals and targets, but also foundational principles to guide meaningful action to their achievement by 2030. Multinational companies have signed up to the SDGs as the world’s long-term business plan. Realizing the SDGs provides a yearly $12 trillion investment and growth opportunity, while creating hundreds of millions of jobs in the process. But progress is too slow – witnessing society’s inability to deal with pressing human, ecological, economic and health crises – whilst the vast potential for societal value creation remains underutilized. This book provides a timely account of the systemic, strategic and operational challenges that need to be addressed to enhance the effectiveness of corporate involvement in society, by using the SDGs as the leading principles-based framework for actionable, powerful and transformative change. Principles of Sustainable Business is written for graduate and postgraduate (executive) students, policymakers and business professionals who want to understand the complex challenges of global sustainability. It shows how companies can design and implement SDG-relevant strategies at three levels: the macro level, to assess whether the SDGs present wicked problems or opportunities; the micro level, to develop and operationalize innovative business models, design new business cases and navigate organizational transition trajectories; and the meso level, to develop fit-for-purpose cross-sector partnering strategies. Principles of Sustainable Business presents innovative tools embedded in a coherent sequence of analytical frameworks that can be applied in courses for students, be put into practice by business professionals and used by action researchers to help companies contribute to the Decade of Action. Cover Endorsements Half Title Series Title Copyright Contents List of figures List of tables List of boxes List of tools Foreword Preface Part I: WHY? SYSTEMIC PRINCIPLES The creation of the SDGs - a new paradigm for progress 1 Why now? A necessary frame for grand societal challenges 2 Why not? Understanding the potential of the SDGs 3 Why slow? Conditions for realizing the SDGs Part II: WHAT AND WHO? SOCIETAL AND DYNAMIC PRINCIPLES The SDGs as wicked problems or wicked opportunities: Who should address what? 4 What if? The SDGs as wicked problems 5 What and who? The SDGs as wicked opportunities 6 Who? The governance challenge Part III: HOW? STRATEGIC AND OPERATIONAL PRINCIPLES How to accelerate corporate action for the SDGs? 7 Making it resilient - dealing with triggering events 8 Making it strategic - business cases for sustainability 9 Making it material - designing sustainable business models 10 Making it powerful - using power as a force for positive change 11 Making it functional - the internal alignment challenge 12 Making it collaborative - the partnership challenge Acknowledgements Further reading Bibliography Index