Developing Broad Strategies in a Multinational Food Manufacturer and Marketer.
Example of:
The creation of an effective sustainability strategy.
Key Points:
- High level leadership is key to the success of a sustainability strategy.
- The company sustainability strategy should be clearly defined and well directed, based upon consideration of all potential drivers.
Action and achievements:
This company has defined a clear direction and developed broad strategies around each of their relevant and material sustainability issues globally. This is underpinned by high level leadership commitment based on the business case for each of these sustainability issues. The first step in developing broad strategies was clarifying the drivers for corporate responsibility and sustainability within the context of the company. Following this, the relevant and material sustainability issues for the company were identified for priority focus. This led to the creation of a sustainability agenda organised around 5 defined Corporate and Social Responsibility 'pillars'. Accountability for each pillar was assigned to specific employees with responsibility for defining the desirable sustainability outcomes based on current and emerging trends (including internal and external drivers and their potential impact on business). Having defined broad strategies for achieving the desired sustainability outcomes, the company set concrete and time-bound targets for each pillar to align energies globally.
Barriers/challenges encountered or overcome:
One key challenge experienced in developing this company's sustainability agenda is as follows.
- Many local businesses and subsidiaries - which tend to take a shorter-term approach - see only a weak link between the company's overall business strategy and the sustainability agenda. This has hindered the mainstreaming of sustainability considerations leading to a failure to drive consistent action locally.
Measures currently underway to address this include education on the business case for sustainability as well as ensuring personal accountability for delivering the sustainability goals through performance review processes.