Fortune Favours the Brave draws on in depth discussions with CEOs of some of the UK’s leading companies such as Kingfisher, BT Group and Jaguar Land Rover and offers five opportunities where business can capitalise – resource efficiency, circular economy, new consumption models, shared value business models and transparency and customer engagement.
The report also coincides with the launch of the Sustainable Business Toolkit Business in the Community which provides guidance on how companies can create and test new innovative ideas that deliver commercial, environmental and social benefit.
The report’s forward says: “By designing higher quality sustainable products, adapting the way of doing business, innovating in supply chains and engaging communities, business can better meet customer needs simultaneously creating value as well as environmental and social benefit. In other words become sustainable businesses.
“Successful companies are decoupling growth from resource extraction and environmental externalities, securing resilient and competitive supply chains and operations.”
Marc Bolland, chief executive, Marks & Spencer, said: “As customer values and expectations evolve, sustainable products need to be made more desirable to engage with customers and to develop a self-sustaining, circular economy. Everybody wants a racing car, but even a racing car can be fuel efficient. We need to make sustainability desirable, appealing and relevant, and by responding to customer wants, UK business will have more impact.”
Interestingly, Fortune Favours the Brave claims that CSR-driven programmes are limited as, among other things, they, “Ignore whether a company’s core purpose, products and services are compatible with long term trends and social and environmental needs,” and “create tension between shareholder value creation and the needs of society.”
