Sustainable Development Goals: A Business-Based Approach

Define the Challenge

In addition to considering the readings and what we have already discussed in class, teams should read “The Road to Dignityby 2030: Ending Poverty, TransformingLivesand Protecting the Planet. ”(p. 13-26), which identifies the global challenges by leaders. Articles about“The Bottom of the Pyramid” by C.K Prahalad, and an interview of Bill Gates on his ‘big idea’of“Creative Capitalism” https://www.youtube.com/watch?v=48rSTRvPbfsremarks) might provide some additional inspiration.Other resources include the World Bank and UN DevelopmentProgram (UNDP). Check the list of websites at the end of this paper for even more resources. 1. Define the ChallengeYou should review the challenges presented in the UN’s 17 Sustainable Development Goalsand select one youwould like to address. You should then identify a company(your own?) where addressing that challenge would be a strategic fit for the company and potentially an opportunity for growth, or for securing their supply chain, etc. For example, if food security is the SDG, you should ask yourself the ‘5 whys’and determineifit is food production or distribution that is the underlying problem. Acompanyinthe agriculture, food production, or even chemical industries might offer a potential solution. You might identify a company with a core competence in (say)

2the area of nutrition (e.g.,Nestle). By tackling this issue, the company may createa new product range or better supply chain that provides it with acompetitive advantage--creating a win-winfor the business and for society. To see what your company/companies are already doing in these areasand what might be possible, check theirwebsites, corporate sustainability reportsand/or their Communicating on Progressreportwhich is required of all companies who are members of the UN Global Compact. (See www.unglobalcompact.orgfor more information.)2. Clarify ImpactBe clear as to what you want to achieve. What is the societal problem you hope to solve through a business-based approach? What is the shared value you will create for both business and society? Be aspirational, but realistic. What criteria, measures will you have in place to evaluate your success? 3.Identifyingthe Systems and Stakeholders In looking at the issue area your team has decided to focus on, teams then identify the relevant stakeholders who may be involved. A STEEPLE analysis is often a helpful tool here, since many of these issues are socio-political as well as economic. Who does management need to involve and what systemsare they apart of?Is there an opportunity for collaboration, and if so with whom? Who has the power, skills, competencies and desire to solve the problem? Once identified, how can you engage them in a ‘system’ that addressesthe challenge/opportunity? 4. Develop a FrameworkIn the systems modeling article, the author reminds us that how we structure organizations determineshow those within a system behave. What sort of policies, frameworkscan you put into place that will help ensure the system functions properly? For example, have you integrated feedback loops within the system to help ensure ongoinginteractions and dialogue amongst the various players? 5. EvaluationHow will you know you are successful? What quantitative, qualitativemeasures might you have in place to assess the social, economic, environmental outcomes of your proposal? Have you considered the criteria, for example, put forward within the SDG goals, or by the ESG framework as a means of assessing success?