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The Mini Cases 5 Companies, 5 Strategies, 5 Transformations

The Mini Cases 5 Companies, 5 Strategies, 5 Transformations...

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The Business of Sustainability Findings and Insights from the First Annual Business of Sustainability Survey and the Global Thought Leaders’ Research Project In collaboration with Knowledge Partner With support from Initiative Sponsor SPECIAL REPORT
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Copyright © Massachusetts Institute of Technology, 2009. All rights reserved. For more information or permission to reprint, please contact MIT SMR at: E-mail: [email protected] Fax: +1 818-487-4550, attention MIT SMR/Permissions Phone: 818-487-2064 Mail: MIT Sloan Management Review PO Box 15955 North Hollywood, CA 91615 Maurice Berns Andrew Townend Zayna Khayat Balu Balagopal Martin Reeves Michael Hopkins Nina Kruschwitz
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Contents Preface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Survey and Interview Findings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 The Consensus: Sustainability Matters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Sustainability Is Not a “Topic du Jour” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Opinions Differ on Some Aspects of Sustainability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Some Companies Are Acting Decisively and Winning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 Most Companies Either Are Not Acting or Are Falling Short on Execution . . . . . . . . . . . . . . . .9 Why Decisive—and Effective—Corporate Action Is Lacking . . . . . . . . . . . . . . 10 Three Major Barriers Impede Decisive Corporate Action . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 Necessary Capabilities Are in Short Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 Looking Ahead: Seizing Opportunities and Mitigating Risks . . . . . . . . . . . . . . 15 Lessons from First-Class Companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Peering over the Horizon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16 Report Exhibits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Mini-Cases: 5 Companies, 5 Strategies, 5 Transformations . . . . . . . . . . . . . . . 24 The Sustainability Audit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33 Interviewee List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34 Survey Highlights. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .37 Survey Questions and Responses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .45 Further Reading. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .81 MIT SLOAN MANAGEMENT REVIEW 1
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Preface Sustainability is garnering ever-greater public attention and debate. The subject ranks high on the legislative agendas of most governments; media coverage of the topic has proliferated; and sustainability issues are of increasing concern to humankind. However, the business implications of sustainability merit greater scrutiny. Will sustainability change the competitive landscape and reshape the opportunities and threats that companies face? If so, how? How worried are executives and other stakeholders about the impact of sustainability efforts on the corporate bottom line? What, if anything, are companies doing now to capitalize on sustainability- driven changes? And what strategies are they pursuing to position themselves competitively for the future? To begin answering those questions, the MIT Sloan Management Review and knowledge partner The Boston Consulting Group, with sponsorship support from business analytics provider SAS, are collaborating on a project called the Sustainability Initiative. As part of that effort, we recently launched a global survey of more than 1,500 corporate executives and managers about their perspectives on the intersection of sustainability and business strategy. (We plan to make this an annual survey.) Prior to the survey, to form hypotheses and shape its questions, we conducted more than 50 in-depth interviews with a broad mix of global thought leaders. Our interviewees included
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  • Spring '14
  • Business, MIT Sloan School of Management, Massachusetts Institute of Technology, MIT Sloan Management Review, sustainability initiative, 01_BOSS_Sustainability Report_1-16.indd Sec2

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