Argue for of against the following statement: "When making the business case, you should conentrate on the decision makers "Hot buttons" and gloss over some of the other details.
Ans:
A compelling bussiness case based on facts and data and comparisonns against what is possible, but also on being able to identify and push the hot buttons of the decision makers.hot buttons are the particular areas an individual knows, undeerstands and gets passionate about. if the business case sucessfully presents benefits that hit these hot buttons, then support may come more easily.
1. There is no "one size fits all" business
case. Each company has different drivers of shareholder value and
different material sustainability issues. The senior
decision-makers will have different hot buttons. Not surprisingly,
different companies have different business cases for
sustainability too. Cadbury went Fairtrade to secure the future of
its supply chain and engage the consumer. Engineering and
construction firm Balfour Beatty realizes that its long-term
success requires alignment between market demands, healthy
communities and environmental limits.
Lesson: Focus on finding only your company's business
case.
2. The "societal case" doesn't automatically make
a business case. There is a growing acceptance of the need
for action on sustainability issues like climate change and chronic
under-development. Unfortunately, this "societal case" does not
automatically make a business case for every company. There are
still plenty ways of making profit today that are unsustainable in
the medium term, like gas-guzzlers and bottled water. Over time, we
can expect greater overlap between the societal case and the
business case, as there are changes in regulation, consumer
behaviour, investor expectations and more.
Lesson: Don't expect a business case to exist now for all
the things the company needs to do.
3. Opportunity trumps responsibility.
Often corporate responsibility means improving the current business
so it is good enough for legislation or stakeholder expectations.
Companies get into a "compliance mentality" that resent the costs,
and are blind to the benefits. Plus there are other ways of
improving the current business -- if your best argument is "it
motivates staff" then be prepared for someone finding a cheaper way
of raising their spirits.
On the other hand, senior business people love the idea of
opportunity and hate the idea of missing out. Fundamentally,
corporate sustainability is about exploring the next way your
company will be successful, because almost all the things you
currently rely on -- energy, supply chain, consumers, investors,
regulation -- are going to change. Ecomagination is about inventing
a new future for GE, not improving its energy efficiency.
Lesson: Frame sustainability as a way of unlocking
opportunity for the company now and into the long
term.
4. The more you look, the more you
find. The evidence is that "once companies being to act
aggressively, they tend to unearth more opportunities, not less"
(to quote the MIT Sloan Review report). For instance, in January
2007 Marks & Spencer planned to invest £200m over five years in
Plan A -- by 2009, two years into the initiative, it has already
become cost positive.
Lesson: Plan to explore how to make sustainability
commercial and how to keep improving your company's business
case.
5. Sustainability professionals and finance
professionals speak different languages. One side tends to
make a case in qualitative terms, talking about how it will benefit
society first and then the company. The other is primarily
interested in the direct, provable benefits to the company in
financial, quantitative terms. (Guess which is which.)
Fundamentally, accounting is the language of business, and finance
directors call the shots. So, the sustainability change agents have
to learn "accountant."
Lesson: Frame the case for sustainability in terms your
finance director will understand, ideally in drivers of shareholder
value (this will be subject of a subsequent post).
6. The "no business case, no permission"
vicious cycle. Often sustainability professionals need
permission from the finance department to get the resources they
need to find a business case. But the finance function will not
give permission without a business case. Everyone is stuck in a
vicious cycle.
Lesson: Plan small steps to iteratively create a virtuous
circle of permission and results.
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