Sustainability
The definition of a sustainable business is evolving: we feel the meaning of this should be defined to include things such as fair, good, environmentally correct, politically correct and leaving a legacy while you are at it.
That all sounds easy if you are a say a high-tech global company with money in the bank and a low cost of production, but what does it mean for the manufacturer of widgets whose competition comes from any of ten low-cost overseas locations?
Caught between the growing idealism and shrinking pocket books of consumers, businesses are struggling to figure out how to make their corporations "sustainable" in today's world. Couple all that with the existential question, "Why are we in business anyway?" and that is where the fun begins, because Purpose drives innovation, and innovation leads sustainability.
The great news is that breakthrough innovation can come from any place in the Operating Model. At The Institute we are passionate about working with businesses, challenging them to take innovation into areas usually not considered.
Sustainability is a good thing to consider and may not always be simple. But we believe it can be predictable if we get the right people thinking about the right things using the right frameworks, and with the right measures of success.
Bottom line: decide what you want to sustain, refresh your business Purpose and redefine success while you're at it.
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