Engaging Stakeholders as a Path to Business Sustainability

More and more organizations are now embracing business sustainability as a means to differentiate their organization and gain a long-term competitive advantage.  These companies are adopting a comprehensive definition and business sustainability that runs consistently through core business processes and aligns the interests of key stakeholders.

According to a recent study, top performing organizations view sustainability as a “must have” strategy for long term business viability and success.  A differentiating aspect of these organizations is a recognition and response to ‘pressures from stakeholders’.

While executive support is a critical key component to business success, it is not the only form of leadership present in an organization.  Business sustainability leaders understand the value in leveraging their internal resources as well as their key business relationships.

Whether led by a sustainability executive or traditional management, the pursuit of long-term business sustainability enables:

• Employees: Create incentives to lower costs, initiate process improvements, and stimulate innovation.

• Customers: Establish expectations that are defining products and service attributes.

• Suppliers: Align supply chain expectations to drive sustainable material requirements and efficiencies.

• Local Community: Defined framework for initiatives carried out at the local level through partnership with community groups, local businesses, and governing bodies.

In both a corporate culture which encourages stakeholder engagement and a traditional setting, there are opportunities to further facilitate eco awareness across any organization.  By creating an openness to new information and a business model to respond, a company enables itself to explore the value of business sustainability.

It is essential to build a focused business sustainability plan which incorporates sustainability concepts into core business practices.  Additionally, include business leaders to engage employees and other key stakeholders in business sustainability strategies that add specific value and promote company growth and success.