How do you avoid sustainability strategy mistakes?

Sustainability is not only a moral duty, but also a competitive advantage for businesses that want to survive and thrive in the long term. However, developing and implementing a sustainability strategy is not a simple task. It requires careful analysis, planning, execution, and evaluation, as well as constant adaptation to changing conditions and stakeholder expectations. If you want to avoid common sustainability strategy mistakes, here are some tips to follow.

1 Align with your vision

Your sustainability strategy should be consistent with your overall vision, mission, and values, as well as your core competencies and competitive positioning. It should not be an afterthought or a separate initiative, but an integral part of your business model and value proposition. By aligning your sustainability strategy with your vision, you can create a clear and compelling narrative that engages your employees, customers, partners, and investors, and sets you apart from your competitors.

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Gerard Ekhart

Transformation executive | Revitalize Industry Institute ©️💹🎓
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I suggest not to treat sustainability as something that needs to be incorporated in a company’s mission, vision and strategy. Sustainability should be fundamental and form the basis for products/solutions and a company’s footprint. Any strategy without foundational sustainability elements will suffer from short termism and will be bound to fail.

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2 Assess your impacts

Your sustainability strategy should be based on a thorough assessment of your environmental, social, and economic impacts, both positive and negative, across your entire value chain. You should identify and prioritize the most material issues for your business and your stakeholders, and set realistic and measurable goals and indicators to address them. You should also benchmark your performance against industry standards and best practices, and disclose your progress and challenges transparently and regularly.

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Prakhar Srivastava

Turning coffee into strategy, and confusion into curiosity. The only predictable thing? My unpredictability.
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Sustainability strategies should be well-researched and holistically designed. It's important to consider the entire value chain, from sourcing materials to end-of-life disposal. Rushing into solutions without a comprehensive understanding can lead to unintended negative consequences. Develop appropriate KPIs to track progress toward your sustainability goals. These indicators should provide quantifiable data to measure your performance and improvements over time.

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3 Involve your stakeholders

Your sustainability strategy should be informed by the needs and expectations of your internal and external stakeholders, such as your employees, customers, suppliers, regulators, communities, and civil society. You should engage them in a meaningful and inclusive dialogue, and solicit their feedback and input on your sustainability issues, goals, and actions. You should also collaborate with them to co-create solutions, share resources, and leverage synergies. By involving your stakeholders, you can build trust, loyalty, and support for your sustainability strategy, and enhance your reputation and legitimacy.

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4 Innovate and differentiate

Your sustainability strategy should be an opportunity to innovate and differentiate your products, services, processes, and business models, in ways that create value for your business and your stakeholders. You should explore new markets, segments, channels, and partnerships, and leverage emerging technologies, trends, and opportunities, that align with your sustainability goals and vision. You should also communicate your sustainability value proposition effectively and creatively, and showcase your achievements and impact stories.

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5 Learn and adapt

Your sustainability strategy should be a dynamic and iterative process, not a static and rigid plan. You should monitor and evaluate your performance and impact, using both quantitative and qualitative data and methods, and learn from your successes and failures. You should also scan the external environment and anticipate the risks and opportunities that may affect your sustainability strategy, and adapt accordingly. By learning and adapting, you can improve your sustainability strategy continuously, and ensure its relevance and resilience.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Gerard Ekhart

Transformation executive | Revitalize Industry Institute ©️💹🎓
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Sustainability is not a ‘business thing’. It touches our personal lives and should be considered by businesses from that perspective. One of the founders of the largest family owned business in the Netherlands stated this aspect as follows: ‘a successful business is a result of the way people work together, not a result of the products they deliver. The product of a business can never be better that the people who produce and sell the product.’ Same goes for sustainability. If your people donot embrace the sustainability concept fully, a business strategy around the topic will fail.

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How do you avoid sustainability strategy mistakes?

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2

3

4

5

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1 Align with your vision

2 Assess your impacts

3 Involve your stakeholders

4 Innovate and differentiate

5 Learn and adapt

6 Here’s what else to consider

Strategy

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How do you avoid sustainability strategy mistakes?

1

2

3

4

5

6

1 Align with your vision

2 Assess your impacts

3 Involve your stakeholders

4 Innovate and differentiate

5 Learn and adapt

6 Here’s what else to consider

Strategy

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