Integrating corporate sustainability in strategic management

Norbert Bol

Based on a literature review of 114 peer-reviewed scientific journal articles it shows that sustainability is an important topic for managers but they just rarely consider it in strategic management. Many companies therefore still lack a strategic approach to integrating corporate sustainability into strategy. In my opinion the starting point in the integration of corporate sustainability in strategic management is manager attitude and behaviour.

Towards true sustainability

Norbert Bol

Strategic Management Collaboration Innovation Leadership Sustainability SustainnovateWhen are we truly sustainable? That is an inspiring question. As human beings we all aspire a healthy, happy and prosperous life for ourselves and for the next generations.

Trending Sources

Are you too busy to improve?

Norbert Bol

Strategic Management Collaboration Innovation Leadership Learning OrganizationLast week I wrote about how we can learn to innovate by learning from haute cuisine chefs.

The future of sustainability

Norbert Bol

Strategic Management CSR Innovation Strategy SustainabilityDear readers of strategy blogs, New Year brings a beautiful opportunity to thank you for reading and interacting with me on business strategy, innovation and sustainability. May the New Year open up new ways and new roads to success for you, fulfilling all your aspirations!

Where sustainability and innovation meet profitability

Norbert Bol

Strategic Management CSR Innovation Learning Sustainability SustainnovateThe title of this blog could also have been “What can we learn form family farming in the South East of Spain?”

Creating new meaning on value creation and innovation in sustainability transitions

Norbert Bol

As many of the readers know, I started more that twelve years ago a new venture to contribute to more responsible investing in real estate and infrastructure, by integrating investment management practices to engineering practices. Strategic Management Innovation Strategy Sustainability Sustainnovate‘If we are not capable of changing, then who is?’.

Knowledge sharing in project teams is important to go beyond your limitations

Norbert Bol

Strategic Management Collaboration Communication Innovation Leadership StrategyModern knowledge-based organizations face continuous challenges to remain competitive. These challenges today are driven by globalization, the possibilities of the internet and the increasing need for more sustainable products and services. These developments are creating a complexity of interdependent information flows which can be opportunities and/or threats to the organization.

Return on investing in social sustainability

Norbert Bol

In the November edition of the Strategic Management Journal Fosfuri et al. Strategic Management Journal., Strategic Management CSR Finance SustainabilityNowadays, many companies engage in social causes that are aligned with the social concerns of their customers. In the Strategy Blog “ Business sustainability and cost of equity ” it was shown that social sustainability has a more indirect effect to business performance.

Sustainability and creativity are related, but they need a helping hand

Norbert Bol

For ethical business leaders and managers it is important to guide the company in the right direction by fostering an innovative-sustainability-based attitude. Strategic Management Innovation Leadership SustainabilityCreating value for customers in a competitive business world, requires a creative and innovative attitude to improve products and services.

Study 29

Working smarter and greener in 2017

Norbert Bol

International Journal of Information Management , 37 (1), 1441-1448. Strategic Management CSR Innovation Leadership Social Media Strategy SustainabilityDear readers, Best wishes for you in the new year 2017! Last year the number of rearders of Strategy Blogs increased enourmously to 22,634 followers today. The three blogs that were read most last year, were: 1) Knowledge sharing in project teams is important to go beyond your limitations. 2) Are you too busy to improve?

Positive marketing innovation

Norbert Bol

Strategic Management Innovation Marketing SustainabilityIn the December 2015 issue of the Journal of Business Research there is an interesting article about positive marketing. Positive marketing is the ideal form of marketing as it aims to create value for the firm and its customers and society. In that respect it is more than cause marketing, green marketing and social marketing.

Why we need to understand innovation speed?

Norbert Bol

Strategic Management Innovation Leadership Strategy SustainabilityInnovation is important in the entrepreneurial strategy processes to increase organizational performance. Innovation speed is essential to this performance as well, because when we define a new product or service there is a need to make it available to custumers fast to achieve first-mover advantages. In the February 2016 edition of the Journal of Business Research, Shan et al.

Overcoming passive resistance to innovation

Norbert Bol

Strategic Management Innovation StrategyThe development and introduction of new products are important for the long term success of a company. When new products are being introduced to the market, there is always a concern for customer resistence.

Best Strategy Blog in 2015

Norbert Bol

The model points out that entrepreneurs can create together a more favourable environment by strategically working together on technology optimization and development, market creation and socio cultural changes, but also by coordinating these activities.

The importance of managing secondary stakeholders and the role of social media

Norbert Bol

Managing the increasing number of stakeholders, is of course a challenge for companies. Strategic Management Communication Innovation Leadership Social Media SustainabilityLast week I wrote in StrategyBlogs that bridging the gap between strategy formulation and strategy implementation is possible through a true dialogue with your stakeholders. In the current edition of Business Horizons there is an interesting article about secondary stakeholders and their growing influence.

How we justify our (un)sustainability

Norbert Bol

Strategic Management CSR Innovation Learning Sustainability SustainnovateDuring the last few weeks I have had interesting discussions about the question: “are we doing enough to create a sustainable future?” ” The discussions were interesting because they were all very open in the first place. I also found that people are not only willing to contribute but are also willing to share their contributions with me and others.

Study 23

Decisive to be innovative

Norbert Bol

Strategic Management Strategy Sustainability Innovation LeadershipLast week in Strategy Blogs we discussed the topic of innovation speed and how this positively relates to organizational performance. In addition to the characteristics mentioned last week that increase innovation speed, it is important to mention decisiveness as a characteristic as well. Decisiveness can be described as the ability to decide with speed and clarity. Theory.

Bridging the gap between sustainability strategy formulation and implementation

Norbert Bol

Successful implementation factors that need to be well aligned with the sustainability strategy are: organizational structure, organizational culture, leadership, management control and employee motivation and qualifications. In my opinion these dialogues about sustainability with all these different stakeholders are great to manage expectations, risks and opportunities (innovations). Strategic Management CSR Innovation Leadership Sustainability

Green management performance

Norbert Bol

In the January 2017 issue of the Journal of Cleaner Production there is a study that has investigated the relationship between green management and the performance of Italian firms. The study shows that the relationship between green management and performance is U-shaped. The U-shaped performance makes clear that green initiatives can lead to a lower performance if there is not a comprehensive environmental management system.

Study 18

5 Advantages of Strategy Statements with Simple Language

BrainZooming

It’s worth a few minutes (if you haven’t done it recently) to crack open your strategic plan and read your strategy statements. If you weren’t involved in putting the strategic plan together, would YOU be able to understand the strategy statements?

eBook 21

The short term actions needed for sustainable long-termism!

Norbert Bol

Most managers do not resist this pressure as 78% of the managers would reject an NPV (net present value)-positive project if it would lower quarterly earnings, and 80 percent would focus on this short-term metric at the expense of building long-term shareholder value. The way the dimensions of success are ordered above, do increase in uncertainty for management. The Challenge of Introducing Sustainability into Project Management Function: Multiple-Case Studies.

Crowdsourcing ideas: sexy ideas get implemented

Norbert Bol

Strategic Management Innovation Leadership Strategy SustainabilityThrough history, the engine of human progress and prosperity has been, and is, the mating of ideas. Matt Ridley – When Ideas Have Sex.

Innovation at work

Norbert Bol

Strategic Management Business Innovation StrategyInnovations are being created in formal Research & Development (R&D) departments, but can also originate outside R&D departments. In the February 2016 edition of Research Policy, there is an interesting article by Lee & Walsh who studied non-R&D innovation.

Favourite 2016 books by CEOs

Norbert Bol

Strategic Management Innovation Leadership Learning Marketing StrategyLast week McKinsey published an interesting list of books that CEOs read during the summer holdiday season. For the readers of Strategy Blogs I have made a selection of the 2016 non fiction books from the list McKinsey published as they are related to the themes of Strategy Blogs. I have put the selected titles in my favourite order.

Innovation through collaboration

Norbert Bol

Strategic Management Innovation StrategyIn the September 2015 issue of the Journal of Learning, Culture and Interaction, there is an interesting article (Ness & Riese, 2015) about how multidisciplinary groups can create innovation through collaboration. The article shows that it is not enough to bring together people with special expertise from different disciplines to develop innovative ideas. There are conditions that influence collaboration and therefore a successful outcome.

Creating more value in services

Norbert Bol

Strategic Management Innovation Services Strategy SustainabilityIn our service economy we create value together. Integrating ecosystem services can create more value. Services differ from products when it comes to value creation.

CEO’s who are blogging about strategy

Norbert Bol

In this Strategy Blog I would like to share with you the blogs of CEO’s that I follow because they also discuss strategic management issues. If you have additions to this list of CEO’s who blog about strategic management issues please let me know. Strategic Management Communication Leadership Marketing Social Media Strategy

Sustainability-oriented innovation

Norbert Bol

International Journal of Management Reviews. International Journal of Productivity and Performance Management , 64 (3). Strategic Management Innovation Strategy SustainabilityInnovation is a vital process for long term business success, whereby new ideas are generated and successfully implemented. To generate new ideas that can be useful, these ideas will probably arise from thinking differently than we normally think.

Looking for words about the future of sustainability

Norbert Bol

Strategic Management CSR Leadership SustainabilityReporting on Corporate Social Responsibility (CSR) and sustainability has grown exponentially. The quality of the reporting has also improved, including historical information and forward-looking statements. A recent study by Aiezza (2015 in press) shows that there is still a strong bias towards optimistic trends when it comes to reporting on sustainability issues.

The role of social media in a crisis

Norbert Bol

For that reason it is necessary to have a strategic social media plan before a crisis hits and try to avoid a crisis by engaging early when problems arise. Managing social media crises with your customers: The good, the bad, and the ugly. The real-time power of Twitter: Crisis management and leadership in an age of social media. Situational crisis communication and interactivity: Usage and effectiveness of Facebook for crisis management by Fortune 500 companies.

Sufficiency as the ultimate business strategy for sustainability?

Norbert Bol

Kyocera – document management system manufacturer: managing demand for printing and copying. Strategic Management CSR Innovation SustainabilityWhen companies are innovating for sustainability there are different strategies that can be pursued. In general these strategies aim to create positive benefits and/or to reduce negative impacts for society and nature. However all economic business models are still based on the stimulation of consumption.

Corporate identity influences sustainability and innovation

Norbert Bol

Strategic Management Innovation Strategy SustainabilityIn the journal of Technological Forecasting & Social Change is an interesting article about the effects of corporate identity on innovation strategies and sustainability (Staub et al., 2016). In this article corporate identity (the overall image of a company in the minds of customers, investors and employees) is divided into so called “hard” and “soft” identity drivers.

Business sustainability and cost of equity

Norbert Bol

Strategic Management CSR Finance SustainabilityThere have been many studies towards sustainability and its effect on the cost of equity of a firm. In the October issue of the Journal of Corporate Finance an interesting study is presented on this topic by Ng & Rezaee (2015). This study not only includes the individual dimensions of sustainability performance as prior research has done, but it also includes the overall relationship.

Study 20

Understanding your public when it comes to sustainability

Norbert Bol

Strategic Management Innovation Social Media SustainabilitySustainability has become an important business principle for companies, governments and communities. To communicate about sustainability or other business issues effectively it is common practice to make use of market segmentation techniques.

Responsible and shared leadership

Norbert Bol

This means that you don’t have to be a manager to be a leader. Diverse teams are more successful and innovative than homogeneous teams, as diverse team are better at managing opportunities and threats to create more success in a sustainable way. Strategic Management Innovation Leadership Learning Strategy SustainabilityLeadership can be found at any level of an organization. To make this work it must be possible in an organization to lead one another.

Spreading new ideas and the role of peer effects

Norbert Bol

Strategic Management Innovation Leadership Marketing StrategyIn 1962 Everett Rogers introduced the theory of the Diffusion of Innovation. This theory explains how, why, and at what rate new ideas and technology spread.

Responsibility for sustainability

Norbert Bol

Strategic Management CSR Leadership SustainabilityThe scientific journal Organizational Dynamics is preparing a special issue about “The leadership imperative for sustainability and corporate social responsibility” In other words what is the responsibility for sustainability of business leaders? Most business leaders describe their responsibility in terms of economic-, social- and ecological performance.

Can mindfulness stimulate sustainability-oriented innovation?

Norbert Bol

Strategic Management Collaboration CSR Innovation Strategy Sustainability SustainnovateFor most of us in the Western hemisphere the summer holiday season is coming to an end and I sincerely hope that everybody enjoyed their summer holidays.

Sustainable innovation: innovation driving sustainability

Norbert Bol

Companies can use sustainability in their process innovation, product or service innovation, market innovation, brand innovation, company innovation and strategic innovation. Journal of Management , 1446-1476. Strategic Management Innovation Strategy SustainabilityCompanies have a responsibility for the environment and society, but on the other hand companies cannot resolve all the environmental and social problems in the world.

Innovation and the role of lead users in online communities

Norbert Bol

The International Journal of Information Management will publish in the August 2016 edition an article (Hau & Kang, 2016) that reveals more insight in the role that lead users have in these online user-communities. International Journal of Information Management , 36 (4), 520-530. Strategic Management Collaboration Innovation Leadership StrategyUser communities in product and service innovations have been identified as important sources of innovations.