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Questions focused on figuring out what works. They then surveyed the practices and performance of recent practitioners, more than three-quarters of whom were from for-profit companies, most of which were headquartered in North America. Figure View Exhibits After analyzing the results and controlling for key factors, we can clearly see which sustainability practices have a statistically significant impact on three key parameters: overall success of sustainable value chain initiatives as measured, cost savings and its revenue impact. Leading practices that have shown particular effectiveness focus on three areas: engagement, goals and standards, and, luckily for me, Aronson quips external expertise.
The idea that working with suppliers can lead to better results is not surprising. However, it is true that many organizations could be more involved than just issuing instructions to suppliers. This doesn't have to be difficult work, it just means working differently, having conversations about expectations and requirements, sharing processes and policies that have Job Function Email List been successful for others, or inviting vendors to collaborate on new solutions. Research shows that different management practices support different goals. However, some practices can support multiple goals. About the Author Nina Kruschwitz is managing editor and special projects manager for MIT Sloan Management Review.
Tags Collaboration Networks & Networks More like this Strategic Alignment with AI and Intelligence Get Ready for More Transparent Sustainability Reports MIT Connect Reinventing Procurement: From Cost Center to Innovation Driver Harnessing Artificial Intelligence to Improve Critical Performance Indicators You must be logged in to post a comment. First time here? Sign up for a free account: comment on articles and access more articles. Comment by Praveen Kambhampati Year Month Day One of the key evaluation criteria seems to be who are your stakeholders and how many are they? The inclusion of more stakeholders and their focus on materiality will further drive effective practices. For a sizable organization to be successful in sustainability.
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