{"id":4291,"date":"2019-08-01T10:41:35","date_gmt":"2019-08-01T07:41:35","guid":{"rendered":"https:\/\/africasustainabilitymatters.com\/?p=4291"},"modified":"2026-01-11T05:30:27","modified_gmt":"2026-01-11T05:30:27","slug":"align-strategy-to-sdgs-for-enterprise-success","status":"publish","type":"post","link":"https:\/\/rayscohosting.best\/ASM\/2019\/08\/01\/align-strategy-to-sdgs-for-enterprise-success\/","title":{"rendered":"Align Strategy To SDGs For Enterprise Success"},"content":{"rendered":"\n

By Edward Mungai<\/em><\/strong><\/p>\n\n\n\n

The Sustainable Development Goals (SDGs) set out the UN agenda for people, planet and prosperity by the year 2030.<\/p>\n\n\n\n

The 17 goals and 169\ntargets adopted in September 2015 aim to stimulate action in areas of critical\nimportance to humanity and the environment.<\/p>\n\n\n\n

Businesses can also use\nthe SDGs to arrive at sustainability, which is the aspiration of many companies\nby balancing profitability with social and environmental impacts.<\/p>\n\n\n\n

SDGs also provide a\nframework for increased investment in new markets, using them as the \u2018common\nlanguage\u2019 for the progressive enterprise, and an opportunity for long-term\npartnerships with the government and others.<\/p>\n\n\n\n

This chain secures the\nfuture of the planet and generations.<\/p>\n\n\n\n

Tying SDGs to business\nstrategy affords the establishment an opportunity to meet societal needs and\nsocial development while minimizing environmental impact.<\/p>\n\n\n\n

The goals will enable\nthe companies to align to important external standards, such as those of the\nInternational Labour Organization.<\/p>\n\n\n\n

Companies must realize\nthe market landscape is constantly changing, partly with the dwindling natural\nresources, climate change, unsustainable supply chains, and poor waste\nmanagement that require continuous innovation.<\/p>\n\n\n\n

A continuous assessment\nof the value chains to identify gaps will help companies to thrive and deliver\nvalue not only for shareholders and customers but also the rest.<\/p>\n\n\n\n

Business needs the SDGs\nfor they present a compelling growth strategy for enterprise in general and the\nworld economy.<\/p>\n\n\n\n

There are opportunities\nwhen companies invest in delivering innovative solutions and transformative\nchange.<\/p>\n\n\n\n

If the SDGs are\nachieved, 380 million job opportunities will be created as well as unlocking at\nleast $12 trillion in opportunities for businesses by 2030.<\/p>\n\n\n\n

These opportunities\nfavor businesses that are taking action instead of those that take a back seat\non integrating the SDGs in their strategies.<\/p>\n\n\n\n

Consumer demands are\nchanging as a result of demographic alterations and consumers are becoming more\nresponsible in terms of production and consumption.<\/p>\n\n\n\n

For instance, 74\npercent of Kenyans believe that business has a key role to play in achieving these\nUN targets.<\/p>\n\n\n\n

Business must,\ntherefore, demonstrate a clear and credible commitment to sustainability to\nmaintain the loyalty of Kenyans as customers and employees.<\/p>\n\n\n\n

For any business\nmanager, risk management is a key component for no enterprise can succeed if\nthe various risks facing it are not managed.<\/p>\n\n\n\n

Over and above the risks domiciled within the company, external risks, especially issues such as climate change, poverty, gender equality in society need to be managed and addressing these UN goals will help in tackling such critical issues and secure resilient supply chains and stable markets.<\/p>\n\n\n\n

The SDGs are also tied\nto cost reduction through a more efficient use of resources within companies.<\/p>\n\n\n\n

It is expected, for\nexample, that by year 2030, renewable sources of energy will replace fossil\nfuels.<\/p>\n\n\n\n

The renewables such\nwind and solar are becoming cheaper than coal or gas in countries like India,\nthe UK, Denmark and will soon be the case for more countries, including Kenya.<\/p>\n\n\n\n

With the inevitable\ntransition from fossil fuels, it makes long-term economic sense for companies\nto begin the movement now, hence the recent announcement by many car\nmanufacturers around the world that they are phasing out petrol and\ndiesel-fuelled cars.<\/p>\n\n\n\n

Leading companies like\nIKEA, H&M, and Google have committed to using 100 percent renewably-sourced\nelectricity within the next 10 years.<\/p>\n\n\n\n

Investing in renewable\nenergy helps companies to manage costs against fluctuating fossil fuel prices,\nensures a stable supply of energy as well as building on the corporate\nreputation.<\/p>\n\n\n\n

Companies are also\ninvesting in more efficient water management as well as innovating around\ncircular economies which can reduce waste.<\/p>\n\n\n\n

The bigger question\nremains, though.<\/p>\n\n\n\n

Is your business\nstrategy linked to the SDGs? And, what are you doing to ensure that the\nintegration is beneficial to both the company, the society and future\ngenerations?<\/p>\n\n\n\n

All businesses should\nstrive to ensure that they are engaging with the SDGs as a win-win strategy.<\/p>\n\n\n\n

Read original\narticle<\/a> on Business\nDaily.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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