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The saying, “business as usual” now holds a new meaning. It is no longer sufficient in the eyes of consumers, employees, and other stakeholders to only meet traditional standards of business success. In this course, you will learn about the importance of sustainability and why businesses and entrepreneurs should incorporate it into their business model.
This course will hep you if:
This e-course (Intellectual Output 4) was developed during the Circle, an initiative co-funded by the Erasmus+ Programme of the European Union. The European Commission support for the production of this publication does not constitute an endorsement of the contents which reflects the views only of the authors, and the National Agency and Commission cannot be held responsible for any use which may be made of the information contained therein.
The saying, “business as usual” now holds a new meaning. It is no longer sufficient in the eyes of consumers, employees, and other stakeholders to only meet traditional standards of business success. For that reason, in this article you will learn about the importance of sustainability and the reasons why businesses and entrepreneurs should incorporate it into their business model.
Sustainable development is the concept that human societies must live and meet their needs without compromising the ability of future generations to meet their own needs. The formal definition of sustainable development was developed for the first time for the Brundtland Report commissioned by the United Nations in 1987.
In 2015, the United Nations (UN) approved the 2030 Agenda for Sustainable Development. The Agenda has 17 Sustainable Development Goals (SDGs), ranging from education or women's equality, to climate change or the design of more sustainable cities.
“We must transform every element of our take-make-waste system: how we manage resources, how we make and use products, and what we do with the materials afterwards. Only then can we create a thriving circular economy that can benefit everyone within the limits of our planet.” - Ellen Macarthur Foundation
The circular economy is a production and consumption model that involves sharing, renting, reusing, repairing, renewing and recycling existing materials and products as many times as possible to create added value. In this way, the life cycle of products is extended.
The Doughnut, or Doughnut economics, is a visual framework for sustainable development – shaped like a doughnut or lifebelt – combining the concept of planetary boundaries with the complementary concept of social boundaries. The name derives from the shape of the diagram: a disc with a hole in the middle.
The general goal of a sustainable business strategy is to positively impact the environment, society, or both, while also benefiting shareholders. Business leaders are increasingly realizing the power of sustainable business strategies in not only addressing the world’s most pressing challenges but driving their firms’ success. However, defining what sustainability means, solidifying clear and attainable goals, and formulating a strategy to achieve those goals can be daunting. One common way to understand a business’s sustainability efforts is using a concept known as the triple bottom line.
You can also make a positive impact through your business! Take a moment to think of ways your business can contribute to making a positive impact in your community. Think of initiatives you can take to be more sustainable, for example, how can you reduce your waste or use reusable packaging in your products.
To help you design your business model we can use a tool called a business model canvas. This canvas helps us to consider all the necessary building blocks we need to successfully create, capture and deliver value.
It is said “you can not manage what you can not measure”. That is also true when we are talking about entrepreneurship, impact and the triple bottom line.
Theory of change (ToC) is a flexible methodology for planning your idea or project, focusing on impact and measuring. It is also called the “Logic Model” and it lets you design the building blocks of your strategy.
There are a number of software options available – both paid for and free to use to create a Theory of Change.
“Selecting the right measure and measuring things right are both art and science. And KPIs influence management behavior as well as business culture.” ― Pearl Zhu
'Communication Is The Most Important Skill Any Leader Can Possess' - Richard Branson
“Determine what behaviors and beliefs you value as a company, and have everyone live true to them. These behaviors and beliefs should be so essential to your core, that you don’t even think of it as culture.” – Brittany Forsyth, VP of Human Relations, Shopify
Without a mission statement, you may get to the top of the ladder and then realize it was leaning against the wrong building! - Dave Ramsey
A sustainable leader must have a set of personal characters and managerial traits that enable him/her to lead with empathy inside a multitask-holder environment. A sustainability leader is someone who inspires and supports action towards a better world. - Alberto Pastore
“You are what you do, not what you say you’ll do.” - C.G. Jung
What your business would see if it were to see itself in the mirror today. A snapshot meant for discussions with your team and your partners.
The presentation that investors want to receive on email.
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