Sustainability Is A Marketing Problem
The Smart Manager|March/April 2017
In their recent book, The Sustainability Edge, Suhas Apte and Dr Jagdish Sheth equate the sustainability journey to the game of golf—they say the intent is not to get the best score but rather pursue continuous improvement. They believe companies should embrace sustainability as it is the only way to build long-term competitive advantage. And for this, companies need to effectively engage with all key stakeholders and influence them too. In this exclusive to The Smart Manager, Dr Sheth, talks about why consumers form the biggest piece in this puzzle and why they will play a major role in how this discourse unfolds. Edited excerpts:
Poornima Subramanian
Sustainability Is A Marketing Problem

Most management discourse places sustainability primarily at the businesses’ doorsteps. You however say there is a major onus on the  customer too. Why?

Probably three separate reasons. Let us look at the end consumers—the B2B end consumers (corporate offices which have factory, professionals, and clerical workers) and the household market. In the first category, the sustainability dialog has already been initiated by the companies themselves—on employee behavior and norms. As far as the second segment is concerned, in most advanced countries, we have really gone beyond subsistence level of living. I strongly believe in Maslow’s need hierarchy. Consumers seem to be moving up and searching for meaning and purpose in their lives.

Let me try and put this in context—in most schools in the US, students have to participate in community service in addition to academic excellence. This is essential as it brings them out of the bubble they live in and helps them understand societal issues such as environment concerns, specially-abled people and their struggles, etc. As a result, when they reach college, their perspectives change—they look beyond what a company is doing to make money. They are keen to know how it contributes to the society and the environment. And more importantly, they no longer stop at just raising these questions; they actively engage themselves in such activities—one of the reasons for the rise of social entrepreneurship. In the US economy where there is a continuous war for talent, young college graduates raise these questions during interviews regularly. They no longer ask, ‘What is my career?’ They ask, ‘What is the company doing for the environment?’ This awareness is not limited to certain segments of society; it is rather a mass awareness. And companies are increasingly embracing these principles in their business. So this is one key area.

Diese Geschichte stammt aus der March/April 2017-Ausgabe von The Smart Manager.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der March/April 2017-Ausgabe von The Smart Manager.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS THE SMART MANAGERAlle anzeigen
Building A Quality Culture
The Smart Manager

Building A Quality Culture

A strong company culture defined by its values, beliefs, and behaviors, has a profound impact on its products and services. More so in today’s VUCA world, where to stay relevant and maintain a competitive edge, it is critical for organizations to build a culture that focuses on quality. Suresh Lulla, author of Quality Fables, elucidates through significant examples how creating a culture of quality is imperative to driving success and productivity.

time-read
5 Minuten  |
July-August 2016
Customers For Life
The Smart Manager

Customers For Life

The history of General Motors in India can be traced back to the 1920s, when it became the first automotive company to set up an assembly plant in the country. The relationship since then has not been as fruitful as GM would have hoped. GM’s flagship brand, Chevrolet, was introduced in India to build upon the success of the popular Opel marque. However, success has been fleeting at best—an issue that GM India is determined to rectify. It aims to do so by adopting a two-pronged approach: using customer feedback to influence product development, and delivering a superior sales-to-service experience.

time-read
4 Minuten  |
July-August 2016
The Digital Shift
The Smart Manager

The Digital Shift

… technology will radically disrupt HR in the near future. Indeed, it is already changing the way HR works and the role it plays and opening the door to a new type of “digital HR” function.1 The rise of digital and social media is changing the dynamics of HR and creating new ways of hiring, engaging, and retaining employees.

time-read
4 Minuten  |
July-August 2017
The Story Of Telling
The Smart Manager

The Story Of Telling

“The best brands are built on great stories,”* this remark by Ian Rowden best captures the strategy of diligent brand building. Much more than attractive logos or the products themselves, what builds a brand is how successfully a story is woven around it. Brand marketers have to be good storytellers indeed.

time-read
8 Minuten  |
July-August 2017
Complexity Is Simpler Than You Think
The Smart Manager

Complexity Is Simpler Than You Think

Kay Kendall and Glenn Bodinson, authors of Leading the Malcolm  Baldrige Way, shatter myths about excellence models such as Baldrige and EFQM.

time-read
6 Minuten  |
March/April 2017
Proponents of Isolation Never Become Victors
The Smart Manager

Proponents of Isolation Never Become Victors

Multilateralism in the political and economic space has always led to frameworks that favor the mighty. WTO was no exception. With agriculture kept out of its purview, it could never become a truly fair and free trading system. China was the only large emerging economy that exploited relative openness in low-cost manufactured goods to take full advantage of the system. Other emerging economies could at best garner minor gains.

time-read
1 min  |
March/April 2017
A History Lesson (From Year One) for Trump and the Brexit Crowd: Isolationism Has Never Worked!
The Smart Manager

A History Lesson (From Year One) for Trump and the Brexit Crowd: Isolationism Has Never Worked!

Professor Stephane Garelli on growing isolationism.

time-read
3 Minuten  |
March/April 2017
A Win-Win Game
The Smart Manager

A Win-Win Game

Business is not a sport where some stakeholder has to lose or fare badly for others to do well. Building an atmosphere of trust and transparency between all stakeholders will help companies retain them even during adverse times.

time-read
7 Minuten  |
March/April 2017
A Sustainable Model
The Smart Manager

A Sustainable Model

With a total market value of $4.3 trillion and an employment base of at least 1.3 million direct employees and millions of others indirectly employed, platforms have become an important economic force.*Companies today are constantly looking for ways to build platforms—Infosys Ltd announced its plans of monetizing its platforms to make them a $2 billion business by March 2021. But are all platform businesses successful?

time-read
9 Minuten  |
March/April 2017
Custom Made
The Smart Manager

Custom Made

…three in four consumers said they receive too many emails from brands, and one-fifth said they could not handle the current volume…69 per cent have ‘unfollowed’ brands on social media, closed their accounts or cancelled subscriptions.*In these times, when the market is flooded with products and services, the most efficent way to engage customers is to offer them customized content. To achieve this, brands need to focus on observing the nuances of individual preferences.

time-read
5 Minuten  |
March/April 2017