The New Corporate Facts of Life
Though many people think the government holds the ultimate responsibility for solving society's problems, in today's rapidly changing world it is businesses that will harness the forces of change to create a better, healthier, and more sustainable world.
There are numerous forces at work that are impacting both businesses and social systems.
Businesses that understand and leverage these New Corporate Facts of Life (NCFOL) will be those that both lead in the market place and lead the charge to solve society's many problems.
The New Corporate Facts of Life by Diana Rivenburgh explores how companies large and small can turn the challenges of disruptive innovation, economic instability, societal upheaval, stakeholder power, environmental degradation, globalization, and population shifts into business opportunities.
Rivenburgh explains that: • There are seven forces of change, or New Corporate Facts of Life (NCFOL), that businesses must harness to survive: They include disruptive innovation, economic instability, societal upheaval, stakeholder power, environmental degradation, globalization, and population shifts.
To be successful, businesses must understand and leverage these forces in ways that benefit customers, employees, society as a whole, and their bottom lines.
• Profit is not the be all and end all; it is a result of practicing sustainable business: To survive and thrive, companies must balance benefits to society with benefits to their bottom lines, recognizing that profit is a natural result of socially conscious and sustainable business rather than the primary driver.
• A new way of doing business requires a change in mindset: Siloed thinking based on narrow perspectives and assumptions no longer fits the business world.
Leaders, employees, and stakeholders must open their minds to new views and ideas in order to unearth the innovations required to make the world a better place.
• Companies must create compelling visions: Visions are inspirational and they unify a company under a shared purpose.
Visions will evolve in response to changing circumstances, but will also consistently align with company values.
• Addressing the NCFOL is a strategic process: To address the forces of change, businesses must create an evolving strategic roadmap that protects the core, encourages innovation, and is forward-thinking.
• People matter: Creating a vibrant culture in which people are collaborative and feel free to be creative and contribute is fundamental to success.
• Engagement is essential: Employees must be deeply engaged in the business for the business to succeed.
There is a direct relationship between employee engagement and business results.
External stakeholders must be engaged too, as they have a significant influence over many facets of the business.
• Resilient organizations are nimble and can be designed: Resilient organizations are agile yet consistent, able to anticipate and adapt to change while maintaining core values.
Any company can employ the ten strategic principles to become more resilient.
There are numerous forces at work that are impacting both businesses and social systems.
Businesses that understand and leverage these New Corporate Facts of Life (NCFOL) will be those that both lead in the market place and lead the charge to solve society's many problems.
The New Corporate Facts of Life by Diana Rivenburgh explores how companies large and small can turn the challenges of disruptive innovation, economic instability, societal upheaval, stakeholder power, environmental degradation, globalization, and population shifts into business opportunities.
Rivenburgh explains that: • There are seven forces of change, or New Corporate Facts of Life (NCFOL), that businesses must harness to survive: They include disruptive innovation, economic instability, societal upheaval, stakeholder power, environmental degradation, globalization, and population shifts.
To be successful, businesses must understand and leverage these forces in ways that benefit customers, employees, society as a whole, and their bottom lines.
• Profit is not the be all and end all; it is a result of practicing sustainable business: To survive and thrive, companies must balance benefits to society with benefits to their bottom lines, recognizing that profit is a natural result of socially conscious and sustainable business rather than the primary driver.
• A new way of doing business requires a change in mindset: Siloed thinking based on narrow perspectives and assumptions no longer fits the business world.
Leaders, employees, and stakeholders must open their minds to new views and ideas in order to unearth the innovations required to make the world a better place.
• Companies must create compelling visions: Visions are inspirational and they unify a company under a shared purpose.
Visions will evolve in response to changing circumstances, but will also consistently align with company values.
• Addressing the NCFOL is a strategic process: To address the forces of change, businesses must create an evolving strategic roadmap that protects the core, encourages innovation, and is forward-thinking.
• People matter: Creating a vibrant culture in which people are collaborative and feel free to be creative and contribute is fundamental to success.
• Engagement is essential: Employees must be deeply engaged in the business for the business to succeed.
There is a direct relationship between employee engagement and business results.
External stakeholders must be engaged too, as they have a significant influence over many facets of the business.
• Resilient organizations are nimble and can be designed: Resilient organizations are agile yet consistent, able to anticipate and adapt to change while maintaining core values.
Any company can employ the ten strategic principles to become more resilient.
