TyroCity

Discussion on: Actions to take dictated by the sustainability lens to operate a business

Collapse
 
shantamilan profile image
ShantaMilan

Sustainability is about continued growth. As Timmon’s modal dictates the need of balanced functioning of team, opportunity and resources for a business to be successful there are there facets to understand for the sustainability of a business. "Sustainable entrepreneurship consists of entrepreneurial actions to improve the environment and advance social wellbeing, but also generate profits. Accordingly, the goal is to initiate actions and processes that develop profitable opportunities and contribute to sustainable development. (Tur-Porcar, Roig-Tierno, & Anna Llorca M, 2018)” These three strategic facets are weak ties, systems thinking and thinking like a molecule.

Weak ties

As the saying goes, there is strength in unity. Weak ties does not necessarily mean that the relationship is weak but rather those relationship that we maintain outside our immediate network. These individuals are outside the box in a manner of speaking. Sometimes situation may dictate you to think outside the box or get a fresh perspective about your business or situation. It is at these time the weak ties can help rejuvenate with fresh idea, new scientific data, venture opportunities, emerging concepts and perspectives which will provide a competitive advantage to your business to differentiate your service or product (Spinelli, Jr. & Adams).

Systems thinking

Systems thinking is more about understanding, analysing and strategizing based on a various interrelated aspects of business and avoiding narrow defined boundaries. Business today has evolved from holding on to ideologies to understanding what the broader audience and stakeholders think. Customer centric designs and thinking is required and necessary for sustainability of business today. Technology can also be used to gather market intelligence for supporting systems thinking. "Powerful and wide-spread technology and significant role of information systems in our everyday lives are all reasons why IT and IS should be at the forefront of the battle for sustainability (Pekmez, 2016).”

Thinking like a molecule

Thinking like a molecule is opposite to systems thinking. While systems thinking is more open and broader molecule thinking is concentrating on the smaller details remaining focused on a particular aspects of business. It is a strategy in itself to solve bigger problems. All problems or challenges have a root cause that are usually smaller and easier to handle than the larger issue at hand. Therefore deconstructing challenges into smaller manageable portion makes it easier to solve even impossible issues. For example proper bookkeeping in smaller businesses help see bigger problem that they may be facing. Cost reduction strategies can be applied by understanding the bookkeeping.

These three strategic facets can be used to see a business under the lens of sustainability.

References

Pekmez, Z. (2016). Key Success Factors for Sustainable Strategic Information Systems Planning and Information Technology Infrastructure. Journal of Economic and Social Studies; Sarajevo , 43-55. doi:10.14706/JECOSS166110

Spinelli, Jr., S., & Adams, R. (n.d.). New Venture Creation . New York City: McGraw-Hill Irwin.

Tur-Porcar, A., Roig-Tierno, N., & Anna Llorca M. (2018). Factors Affecting Entrepreneurship and Business Sustainability. Sustainability; Basel , 452. doi:10.3390/su10020452