Insights from Pr. Malnight: Innovation & Green Business strategies
The 5th edition of the Luxembourg Green Business Summit will take place in just more than 3 weeks. This year, responsible investments, sustainability strategies, leadership and strategic management will be addressed. Pr. Thomas Malnight, from IMD Business School in Lausanne answered a few questions which will give you a taste of his upcoming keynote speech at the Luxembourg Green Business Summit. Register now!
What are the most common reasons CEOs give you when refusing to switch to the long term strategy?
Today, there is so much focus among leaders on the short term. We’re leaving in a world that is very much geared towards consistency and predictability of results on a quarterly basis. Companies and leaders then become victims of the need to have results right away and feel the pressure of the financial markets.
One reason the CEOs cannot switch to the long term strategy is because they haven’t been able to make the case on why they should invest on the long term!
Another reason would be the comfort zone of executives. “Do yesterday’s formulas work to pursue tomorrow’s opportunities?” And obviously, the old answers are not where the opportunities for the future are.
Green is one of the many areas that companies are pursuing to break the patterns of the past. Developing innovative strategies usually means re-defining what you do, even sometimes what your business does.