5 actions to accelerate your sustainable transformation
With change coming at us from every corner, it is no wonder many of us feel out of breath. The challenge is that out of all of the changes happening, the transformation to a sustainable business is no longer a nice to have, it’s a must for all organizations to survive. Regulators are demanding it, customers are expecting it, and competition is pursuing it. The question is no longer why, but how you transform. Studying those who succeed, here are five actions we captured that can help you get started.
When we look at the data, we see some clear patterns among the organizations that are successfully transitioning to a sustainable growth model. They all increasingly use innovation tools and processes to foresee and respond to the light speed of changes coming from regulations, customer demands, and competition. Interestingly by doing so, they not only improve resource usage, increase operational efficiency, and minimize environmental impact, but they are also able to create new value that secures their relevance in the current market while driving long-term success. Interesting, right?
When studying these organizations, we can see multiple choices they make enabling them to do so. Here are 4 actions they all take to move from risk mitigation and compliance to sustainable innovation and growth:
Self-awareness - understanding one’s capabilities and barriers to change.
Like professional athletes, sustainable businesses continuously assess their current ability to drive long-term value for all their stakeholders, helping them understand where to improve next in their ever-evolving transformation.A mind shift - they incorporate a triple bottom line. Truly.
Companies leading the transition do not have separate sustainability goals, they have sustainable ambitions and goals where people and planet growth is as important as financial development. It’s not only about setting the targets, it’s a mind shift in how they view success and progress.It’s a dual transformation - incremental and transformative change simultaneously.
It’s not protecting the current OR transition towards sustainability, it’s both. By building a growth portfolio delivering on multiple return horizons and opportunity areas they can secure a non-disruptive transition to sustainable growth.Tech is an enabler, humans enable it. Grow both.
Technology is a powerful enabler accelerating in its ability to support your transition. By continuously building their tech capabilities but simultaneously strengthening human creativity, analytics, resilience, and systems skills they can multiply the value.Change the carrots and decision structures, and change will follow.
The expression “What gets measured gets done” still holds. Implementing people, planet, and profit incentives on all levels enables leaders to drive faster progress and build an inclusive culture. A growth governance able to adapt to its context helps them safeguard their long-term ambition while driving accountability and speed.
From how to now
Sustainable transformation is not an easy nor a small task. By shifting your focus to identifying, exploring, and validating new value drivers, we see from data that organizations can better anticipate and respond to evolving market dynamics, regulatory requirements, and consumer preferences, allowing them to maintain a competitive edge throughout the transition to sustainable growth.
The right question you should ask is not where to start, but to start.
Understand your current capabilities and then pick both the low-hanging fruit and reach for the sky. Simultaneously.
Ready to start?
Want to learn more?
If you would like to know more about sustainable transformation and how to assess your readiness, send me an email at tove.chevalley@formation.se, and let’s talk!