Connecting sustainability and continuous innovation: Successful sustainability strategies in...
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Connecting sustainability and continuous
innovation: Successful sustainability strategies in mid-size Finnish
companies
Aleksi NeuvonenDemos Helsinkiwww.demoshelsinki.fialeksi.neuvonen@demoshelsinki.fiTwitter: @leksis
Tuuli KaskinenDemos Helsinkiwww.demoshelsinki.fituuli.kaskinen@demoshelsinki.fiTwitter: @tuulikas
Antti [email protected]
Satu KorhonenDemos [email protected]
Research funded by Finnish Innovation Fund, Sitra
1983 2013 2043
Mid-size company economy
Green economy
We are witnessing a parallel evolution
1983 2013 2043
Mid-size company economy
Green economy
We are witnessing a parallel evolution
CSR originates from needs of global companies
Shared Value Porter&Kramer
Companies as Communities Mintzberg
Conscious Capitalism Mackey&Sisodia
Social Enterprises
Impact Investment
20 Finnish companies
10-700 employees
Annual sales <100 m €
Forerunners in some field of sustainability
Method: Analysis of public documents and interview with CEO/other high official from each company
Research methods
What motivates a mid-size company to adopt strategic sustainability?
How these companies expect to benefit economically from strategic sustainability?
Results:
Three questions which typically lead to the formation of a sustainability strategy:
1.How to manage and control for risks in the supply chain?
2.How to utilize factors of production more efficiently?
3.How to stand out from the competitors and create new markets through sustainable products and services?
Risk aversion
Cost- effectiveness Differentiation
Sustainability strategies of mid-size companies
!
In fact, also mid-size companies are employing sustainability as a resource for igniting strategic thinking and innovation.
There are more ways to incorporate sustainability into business models than just those of risk control and responsibility:
Conclusions:
1.Ownership matters: many family owned companies are willing to invest in long-term opportunities.
2.Leadership matters: sense of belonging, purposeful work, co-creation with stakeholders, employee engagement => better productivity
3.Benefit gap: Surprisingly few companies are capable of moving from one sustainability strategy to another
4.Need for new tools: Existing sustainability tools and standards don’t necessarily serve well the most innovative, megatrend driven mid-size companies.
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