Encouraging businesses to aspire to be a responsible business, prioritising people and the planet as well as making an ethical profit, via the free-to-join Responsible Business Project 2030.
The business sector must change and quickly
With the global pandemic, there is little doubt that the business world and the workplace have changed forever. Companies will respond to this challenge in different ways but there is little doubt there will be, and need to be, a 10x greater focus on both environmental and social issues in the future.
“We can change the world and make it a better place. It is in your hands to make a difference” Nelson Mandela.
With regards to climate issues, in particular, there is very little time left to stop the drift towards environmental disaster. Talk of 2050 targets for Net Zero Carbon are clearly nonsense, frankly feeble and demonstrating a total lack of understanding of the climate challenges ahead and the need to take action now.
Some progressive companies, but not enough, have already set ambitious net zero carbon targets. This will become a key differentiator for employees, investors and consumers going forward. Already, more responsible companies are setting Big Hairy Audacious Targets (BHAGs) of 2030 or earlier. How I would love to work for such a company.
Climate issues are clearly essential but a great workplace culture is vital too with a focus on great jobs, wellbeing, ethical decision-making and corporate purpose.
Profitable businesses are essential.
Nor must we forget the importance of profit. Companies need to make a profit. It is vital that for-profit businesses are successful from a financial perspective: making a good and ethical profit to help pay, via taxation, for all the services provided by the state.
Additionally, profitable business, in all likelihood, will employ more people, pay better and provide training and greater career prospects. Profitable businesses are, on balance, more likely to be sustainable.
Fortunately, it is not a binary choice – people and planet versus profit. With the right approach, both profit and social responsibility can go hand in hand.
Fortunately, it is not a binary choice
It does appear that caring for people and the environment is already becoming a key differentiator supported by the evidence that responsible businesses do better. The business case for change is solid see https://www.responsiblebusiness2030.com/its-all-about-the-culture/the-business-case-for-a-great-workplace-culture/ Please contact me if further evidence is required jim.bignal@greatworkplacecultures.com
So, the challenge for business leaders is about finding the right balance between people, planet and profit issues. Not an easy task, particularly at the moment, with high energy costs and rising inflation.
But time is not on our side and urgent action is needed NOW.
What do we mean by a Responsible Business?
By Responsible Business, we mean that an organisation accepts its responsibilities, more importantly those people working for the organisation, as a good corporate citizens need to prioritise PEOPLE and the PLANET issues. They measure their progress on these non-financial issues using Environmental, Social and Governance metrics (ESG metrics).
But the big question is HOW do we find this balance?
With clear evidence that non-financial metrics are becoming more critical, company boards need to treat these people and planet issues as part of a long-term holistic strategy: to create a corporate culture that finds the balance between them. Such a great workplace culture is essential but it needs to be endorsed and supported from the top but developed from below. For more on finding this balance see https://www.responsiblebusiness2030.com/its-all-about-the-culture/balancing-people-planet-and-profit/
This is not just the right moral thing to do, there are strong commercial benefits too. Over time, responsible businesses will survive and irresponsible businesses will not.
So, are you a change-maker?
Are you a change-maker, someone who believes that the business sector can and must help resolve some of the massive social and environmental challenges facing society? Are you someone enthused by making Big Hairy Audacious Goals. See https://www.jimcollins.com/concepts/bhag.html
We are asking you, as a change-maker looking for positive change in our society, to promote the concept of Responsible Business within your organisation.
Hopefully, you are not an “Irresponsible”, interested in only maximising profit, even at the expense of the environment and society? Or don’t you really care at all?
What will you tell your Grandchildren when they ask you about what you did about climate change or inequality?
What is the Responsible Business Project 2030?
Its mission is to encourage companies to take more responsibility, as a good corporate citizen, towards people and the planet (ESG issues), as well as making an ethical profit, building more sustainable businesses and making our world a better place to live and work.
There is no catch in being involved. There are no documents to complete, no signing-on fee. This is not an accreditation service. This is a journey, an exciting and fascinating journey – it is NOT a destination. We feel no company can claim to be a responsible business –we only ask that businesses genuinely “ASPIRE to be a responsible business”.
Our website www.responsiblebusiness2030.com provides a strong business case for change, some ideas on the way forward and links to some specialist services.
Why is this so critical?
Most of us accept that the world is hurtling towards an environmental disaster unless urgent action is taken. To avoid this disaster, every organisation must play its part in reducing its impact on the climate to zero as urgently as possible – 100,000’s of BHAGS are required now.
Social issues are also critical – creating a great workplace culture where each and every business must play its part in providing great jobs.
Additionally, companies that fail to reduce their impact on the environment and tackle social challenges, will suffer in the hands of consumers, investors and the law: it is only a short matter of time before these ESG issues become a legal responsibility.
What next?
As someone with a passion for change, we need your help on:
· Developing and then promoting (particularly to the doubters and cynics) the moral and business case for change towards a reformed, more purposeful business sector.
· Defining what we mean by a responsible business in more detail but with a simple clarity.
· Providing solutions on how companies can become a responsible business.
You can do this by getting involved in the Responsible Business Project 2030 – join here https://www.responsiblebusiness2030.com/how-to-join/
We would love to hear your thoughts but more importantly, please play your part in making the world a better place to live and work.
Please contact me on LinkedIn if you have any questions and I’d be happy to help at no cost. There is no hidden agenda, I am simply passionate about helping businesses change for the better.
Jim Bignal 8th October 2022
