Book contents
- Frontmatter
- Contents
- List of Illustrations
- Foreword
- Introduction
- PART ONE SUSTAINABILITY AND THE EVOLUTION OF BUSINESS
- Chapter 1 A Journey of Self-Discovery
- Chapter 2 Connecting Sustainability to Your Life Experience
- Chapter 3 Sustainability and Emerging Business Models
- Chapter 4 Smaller Companies Need a Different Solution
- PART TWO LEADING THE SUSTAINABILITY AGENDA
- PART THREE BUILDING TALENT AND OPERATIONAL EXCELLENCE FOR SUSTAINABILITY
- Afterword
- Acknowledgments
- Appendix: List of Resources
- Notes
- Index
Chapter 4 - Smaller Companies Need a Different Solution
from PART ONE - SUSTAINABILITY AND THE EVOLUTION OF BUSINESS
- Frontmatter
- Contents
- List of Illustrations
- Foreword
- Introduction
- PART ONE SUSTAINABILITY AND THE EVOLUTION OF BUSINESS
- Chapter 1 A Journey of Self-Discovery
- Chapter 2 Connecting Sustainability to Your Life Experience
- Chapter 3 Sustainability and Emerging Business Models
- Chapter 4 Smaller Companies Need a Different Solution
- PART TWO LEADING THE SUSTAINABILITY AGENDA
- PART THREE BUILDING TALENT AND OPERATIONAL EXCELLENCE FOR SUSTAINABILITY
- Afterword
- Acknowledgments
- Appendix: List of Resources
- Notes
- Index
Summary
“Creativity involves breaking out of established patterns in order to look at things in a different way.”
EDWARD DE BONOIf you are a leader in a smaller organization, you will have recognized that much of what I have discussed to this point applies to larger companies. The largest firms may employ tens of thousands of people, have multiple locations, and have a substantial impact on waste, water, and energy use. They also have a disproportionate impact on local employment and community development because of larger contributions to the local tax base and more sophisticated infrastructure. In many cases, large global businesses have a dedicated chief sustainability officer (CSO) or a senior executive with a similar mandate. These companies will generally publish an annual report on corporate social responsibility and have a dedicated HR function. Typically, they will also have specialized functions and budgets for recruiting, talent development, and training. The question becomes, Does a sustainability advantage accrue only to the largest of companies, and do smaller businesses just become followers of a larger trend?
However, the importance of small to medium-size enterprises (SMEs) cannot be overstated. If your organization is in this category, then you should know that according to the Organisation for Economic Co-operation and Development (OECD), SMEs account for 70 percent of employment among the thirty-six OECD countries. They account for 45 percent of employment and one third of GDP in emerging economies. In addition, they are less likely to move than a big firm and a larger percentage of the capital they invest stays in the local community. Small to medium-size businesses are also important in times of post- recessionary recovery. According to Thomas Stewart, executive director for the National Center for the Middle Market at Ohio State University, “SMEs created almost two-thirds of all new jobs in the United States since the end of the great recession in 2007–2008.”
Small to medium-size enterprises are generally defined in the United States as companies with fewer than five hundred employees, but this is one definition among many. In the European Union (EU), the standard definition is 250 employees with revenue less than 50 million euros.
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- Chapter
- Information
- Sustainability Is the New AdvantageLeadership, Change and The Future Of Business, pp. 62 - 78Publisher: Anthem PressPrint publication year: 2019