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Notes from Ethical and sustainable business
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SUSTAINABLE & ETHICAL BUSINESSINHOUD
1. What is sustainability? .................................................................................................................................... 3
1.2. Why is it on the agenda? ....................................................................................................................... 4
1.3. EU taxonomy ......................................................................................................................................... 9
2. What is ethics? What is it not?...................................................................................................................... 14
Where do we need business ethics? ............................................................................................................. 15
Why be ethical in business: Some too narrow point of views EXAM!!!!! ..................................................... 16
Time for interaction ...................................................................................................................................... 17
2.1. Utiliterian thinking ..................................................................................................................................... 17
2.2. Categorical reasoning .......................................................................................................................... 19
2.3. Right or wrong- or somewhere in the middle? Virtues ....................................................................... 21
The truth about our rational choices ............................................................................................................ 22
3. Innovation ..................................................................................................................................................... 24
3.1. innovation paradox exam question!!!................................................................................................ 24
3.2. Why innovate?..................................................................................................................................... 25
3.3. strategic thinking ................................................................................................................................. 27
3.4. Business model innovation .................................................................................................................. 30
3.5. Archetypes of BMI ............................................................................................................................... 35
3.6. Hot spot theory.................................................................................................................................... 38
3.7. case/ business game ............................................................................................................................ 39
3.8. Prejudices ............................................................................................................................................ 41
3.9. Short reminder .................................................................................................................................... 42
Triple bottom line ( exam question).............................................................................................................. 43
3.10. New business models .......................................................................................................................... 44
Business model archetypes ........................................................................................................................... 46
The sustainability paradox ............................................................................................................................ 56
3.11. triple layered BMC ( see above).......................................................................................................... 57
4. operational and organisayional excellence ................................................................................................... 59
4.1. sustainable business optimization – better processes ........................................................................ 59
4.1.1. environmental impact ..................................................................................................................... 59
4.1.2. lean .................................................................................................................................................. 65
4.1.3. Quality assurance ............................................................................................................................ 73
5. What is ethical business? .............................................................................................................................. 75
5.1. Ethics ................................................................................................................................................... 75
1
, 5.2. Compliance .......................................................................................................................................... 75
5.3. Values & culture .................................................................................................................................. 76
5.4. Corporate governance ( exam!!) ......................................................................................................... 76
5.5. sustainable HRM .................................................................................................................................. 78
5.6. Sustainable career ............................................................................................................................... 80
5.7. teamwork & sustainable leadership .................................................................................................... 82
5.8. sutainability is purpose building .......................................................................................................... 85
6. guest lesson – BNP Paribas frotis ( guy pollentier)........................................................................................ 91
The paradox of sustainable banking ..................................................................................................................... 91
6.1. banking? .............................................................................................................................................. 91
6.2. Sustainable banking ( belangrijk voor ex) ............................................................................................ 92
6.3. sustainable revolution vssustainbale evolution .................................................................................. 98
6.4. from financing sustainable companies towards financing sustainable^2 companies ......................... 99
7.10. BNP paribas sustainable strategy ........................................................................................................... 101
(8) executive compensation ................................................................................................................................ 103
8.1. introduction ............................................................................................................................................. 103
8.2. agency issues ............................................................................................................................................ 103
8.3. rent extraction ......................................................................................................................................... 104
what makes you work nice? ........................................................................................................................ 105
business case for high wages? .................................................................................................................... 105
what is the problem anyway? ..................................................................................................................... 106
8.4. Pay for performance?............................................................................................................................... 106
8.5. shareholder and stakeholder theory ........................................................................................................ 107
8.5.1. doing good and doing well ................................................................................................................ 107
8.5.2. share/stockholder view ..................................................................................................................... 107
8.5.3. stakeholder theory ............................................................................................................................ 108
8.6. responsibility, individual rights and the common good ........................................................................... 109
8.6.1. John Locke ......................................................................................................................................... 109
8.6.2.Paternalism of freedom ..................................................................................................................... 109
Product liability position 1 .......................................................................................................................... 109
Product liability cases .................................................................................................................................. 109
Product liability cases: position 2 ................................................................................................................ 110
8.7. discussion ................................................................................................................................................. 111
8.8. equal opportunities .................................................................................................................................. 111
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, 1. WHAT IS SUSTAINABILITY?
5 pillars of sdgs ( exam!!)
- People
- Planet
- Profit (w/o profit there is no sustainability) that creates value ( prosperity)
- Peace
- Partnership
Definitions:
“Sustainability Is maximizing the added value of your activities for as many stakeholders as possible and
minimizing the waste of resources, financial resources, time and talent.” SUSTAINABLE BUSINESS
OPTIMIZATION 80%
“corporate social responsibility is a continuous process of improvement, whereby org voluntarily incorporate
economic, environmental and social considerations in an integrated manner throughout their business
operations. Stakeholders consultation is an important part of this process” SUSTAINABLE BUSINESS
INNOVATION 20%
Sustainable from within the business
Sustainability is about management ( business optimization)
- You do something, you check if you achieve your goal or not and you adapt ( it is a circle)
If you do this in a sustainable way, you can make process
- Sustatool
Innovation could be a fourth level
3
, Sustainability is optimization + innovation
Technological
- Optimization
- Circularity
- Substitution
Social
- Functionality not ownership
- Stewardship
- Slow consumption
Organizational
- Co-creation
- Social entrepreneurship
Sustainability is about looking at a solution
- Most companies benefit in a way that benefit society
- Welfare is created by companies not by the government
- Economical and social values are complementary
- Governments can’t achieve the goals by themselves but they can lead it
1.2. WHY IS IT ON THE AGENDA?
6 drivers of sustainability
• Sustainable Development and the 3 p’s
• Risk management
• Stakeholder expectations
• SDG’s
• Shared value creation
• Common sense
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