Are there any theoretical advances in understanding how for profit firms are implementing the sustainable development goals? Any references would be useful.
Sustainability goals and strategies are implemented in companies because of the following reasons:
- legal compliance,
- customers' expectations,
- improving perceived product value, generate higher margin and profit,
- stakeholders' expectations (PR),
- business continuity,
- optimize the costs of operation, risk management and insurance.
Based on the motivating factor the goals can be raised or lowered and the implementation design depends on the company's interest. Developing a strategy is usually starts with a SWOT analysis, now focused on the traditional areas (long term growing, increasing capital, cashflow, value) and now on sustainability and its impact on profitability. HSE and finance prepare the preliminary documents for a discussion in the management team. After that, the idea generation phase comes in a larger team of key personnel, young talents. Sometimes this phase facilitated by external experts (otherwise supervisors shape the result even unintentionally). Than based on the collected ideas and refined SWOT the management team have a strategy creating workshop outside the company. The results are distributed and comments handled. The refined strategy issued. In a large company, divisions and functions create their own sub-strategy to support the company's one.
Dear Ranjit,
Please have a look at these useful PDF attachments.
Good luck!
Maybe you could analyze this through CSR company statement using content analysis.
Thanks robert, arvind and Mirna, I will examine your suggestions in depth
Hi, maybe this recent special issue in Transnational Corporations on Business and the SDGs will be useful: http://unctad.org/en/pages/PublicationWebflyer.aspx?publicationid=1876. It's available open access.
Please have a look at my profile and find a version of Corporate sustainability in practice: An exploratory study of the Sustainable Development Goals (SDGs)
Preprint Corporate sustainability in practice: An exploratory study o...