Severino Interest Group Breakfast Series in Hartford

Strategic leaders are challenged to make dramatic improvements in the way business is done and to reduce the vulnerabilities faced in light of the new global business realities. Some are succeeding in this quest, but many others are failing.  Some rightfully viewed growth and expansion as myopic outcomes and failed to fully appreciate the great potential for unanticipated negative impacts. 

Today, global business leaders need to expand the notion of a business enterprise and adapt new leadership approaches.  It is no longer sufficient to focus on lowering costs, expanding the enterprise, and profit maximization.  As evidenced by the current business crisis, and its myriad of causes and effects, the business world had become too complex and intertwined for “old school” approaches to succeed.  A major untangling is necessary, led by strategic leaders who possess a holistic view of their businesses and the broader business environment.

The great challenge before us is not just to “right the mistakes” of the past, but to create a sustainable future by enhancing and maintaining the positives while reducing and avoiding the negatives.  Successful business leaders of the future must embrace sustainable approaches and recognize that short-term opportunities can create long-term vulnerabilities.

The notion of a sustainable enterprise is not new - it is the essence of what corporations have always strived to be – ongoing enterprises intended to function in perpetuity. The greatest business challenge of the 21st century may therefore be to re-learn how to embrace the concept of sustainability and become a sustainable enterprise. Sustainability involves creating value, developing means and mechanisms to assure success, and integrating all facets of business life and the social world in a harmonious whole.   It focuses on achieving success for all of the contributors and recipients of the goods and services provided by businesses, and protecting society and preserving the natural environment. While the challenges are great and many of the rewards may be realized in the future, sustainability and sustainable development offer the prospects for positive outcomes with fewer vulnerabilities, mitigated risks and greater probabilities of assuring success.