At our (University of Excellence - HEX) last two events, we asked attendees from the industry and trade sectors what they consider important for company attractiveness. Surprisingly, Strategy/Vision/Values, Leadership & Management, and Innovation were the top priorities. However, sustainability seemed to play a minor role. But is that really the case?
Do you recall the feedback from our survey participants on sustainability? The top concepts are based on UN Sustainability Criteria, including Partnership to Achieve Goals, Responsible Consumption, Peace, Justice, and Strong Institutions. Yet, other criteria showed low significance.
Primary expectations for sustainability mainly focus on sustainable management for environmental protection, climate goals, and positive company development. The maturity level according to UN criteria is rated high/very high by 37%, but there's significant room for improvement.
Internal/external customer orientation reveals that 62% view fairness and justice through sustainable management as part of the corporate culture. Additionally, 62% involve young employees in sustainability matters.
Expectations for sustainable management: 62% anticipate positive results, while 26% are skeptical. In 41% of companies, there's still significant room for improvement.
Overall picture and recommendations: Companies should invest more in expanding sustainable management practices, not only for ethical reasons but also because it can lead to competitive advantages and better financing conditions. Integrating sustainability into the overall strategy and actively involving young employees are key factors for the long-term success of sustainable business practices.
What do you think? Is sustainability really so unimportant for medium-sized companies? We're eager to hear your opinions and experiences!
#Sustainability #MediumSizedBusiness #CompanyAttractiveness #Discussion
SME and mid-sized enterprises segments of the economy represent 90% of all firms globally, contribute to roughly 70% of employment, and drive up to 70% of global GDP, according to the International Labor Organization.
However, it is imperative to see sustainability as a management approach for long-term success rather than a compliance issue, i.e. sustainability can be viewed as a new factor of value creation, in terms of strategic management and marketing.
Thank you Stephen for your valuable insight. It's indeed impressive to see the significant contribution of SMEs and mid-sized enterprises to the global economy. In this context, it's crucial to view sustainability not just as a compliance issue but as a strategic approach for long-term success. This aligns with the objectives of the CAS Sustainable Practitioner program offered by HEX, commencing in April 2024, aimed at supporting leaders and decision-makers on this journey.
Hi Stehen, can you give me an paper-adress from the International Labor Organisation?
https://www.ilo.org/empent/areas/greening-smes/lang--en/index.htm
https://www.ilo.org/empent/areas/greening-smes/WCMS_871687/lang--en/index.htm
https://www.ilo.org/rome/approfondimenti/WCMS_773303/lang--en/index.htm
https://www.ilo.org/empent/units/boosting-employment-through-small-enterprise-development/lang--en/index.htm
https://www.ilo.org/global/publications/books/WCMS_861384/lang--en/index.htm
Wishing you Hartmut Kainer success with your HEX programs.
In Linkedin I got the following answer from Mike Emenako:
"Thanks Dr.-Ing. Hartmut Kainer for this insight ... and the interesting article ... and I can well understand that the answer you received was an eye-opener ... for me too ... I essentially knew the figures, but when presented again in this way, it does put things in a different perspective and makes me thoughtful ... I mean, we are already seeing a whole lot of great companies that are not only dealing with the topic of sustainability, but are also working intensively on implementing sustainable practices, but we certainly can't talk about a real wave of sustainability in SMEs yet ... perhaps not yet ... which means that we need to work even harder in terms of society to bring this into our SMEs and create awareness ... or is the awareness already there and companies are just finding it difficult to implement it? ... perhaps there are currently too many other issues, e.g. staff shortages, AI and so on ... In any case, thanks again for sharing this article .."
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