Wednesday, July 22, 2009

Received: Strategy for Sustainability

Terrain.org recently received:

Strategy for Sustainability: A Business Manifesto
by Adam Werbach
Harvard Business Press

From Harvard Business Press:
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One June 1st, General Motors and Citibank were kicked off the Down Jones stock index. Just five years ago, we thought that these companies -- and other institutions like Circuit City and Lehman Brothers -- were the heart and soul of American capitalism. We were wrong. They were not sustainable.
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It's time for a business strategy framework that matches the turbulence of the 21st Century. From Adam Werbach, one of the world's leading business advisors to companies such as Wal-Mart, NBC-Universal, and Frito-Lay and a recognized though leader on sustainability issues, the new book Strategy for Sustainability: A Business Manifesto outlines a plan for integrated and long-term business success.
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"Companies are creating a strategy for sustainability becuse they know the world will change, and they need to build an organization that's nimble, flexible, and connected in order to succeed," says Werbach. "Any company that hasn't rethought its business plan in the last year is operating on an outdated playbook."
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According to Werbach, sustainability has four key components: social, economic, environmental, and cultural. Companies that successfully engage all four components improve their bottom line and simultaneously drive new business opportunities.
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Werbach calls on business to move past the old Jim Collins' BHAG (Big Harry Audacious Goal) mentality and instead adopt "North Star Goals" -- aspirational business goals that aim to solve a global human challenge as well. North Star goals, already adopted by the likes of Dell and Starbucks, not only help businesses stay profitable but they help companies engage their employees to navigate the turbulent waters ahead.
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Terrain.org will not be reviewing this book in a future issue.

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