Creating the Sustainable Organization: Four Horizons for Purposeful Transformation
Sustainability and ESG are terms that businesses globally find more important and are key drivers for competitive advantage. However, even though goals are being made around this challenge, does there need more effective change from businesses when it comes to executing these goals? In this report, Criticaleye partner Tata Consultancy Services (TCS)
explores the use of current business models – ‘a shareholder capitalist system’ - and how the transition to a ‘stakeholder capitalist system’ will give businesses a belief and purpose-led growth strategy benefitting themselves and their stakeholders.
Key takeaways include:
The “four horizons” can be described as: sustainable business, sustainable value chains, sustainable living and regenerative economies.
By starting on the four-horizon journey, the radius of business responsibility is expanded beyond an immediate benefit to one that addresses the long-term good, all while ensuring the sustainability of the organisaton.
In 2020, 64% of customers surveyed in the Edelman Trust Barometer said that they wanted brands they trust to act towards solving societal problems.
At TCS, adopting the mindset of “doing more good” from “doing less harm” is key in order to be effective when achieving sustainability goals.