Sustainability: The new mantra for competitive advantage and value creation

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AIMS Centre for Sustainability (ACS) was established to sensitize all the stakeholders of the society about the need for sustainable practices for better living conditions and our planet’s survival. It is a fact that our wellbeing depends directly or indirectly on the state of our natural environment. ACS takes support of corporate houses, academia, government, civic bodies, industrial houses, NGO and public at large including students to achieve the objective of Sustainability.

Sustainability is based on a simple principle that everything that we need for our survival and well-being depends, either directly or indirectly, on our natural environment. Sustainability creates and maintains the conditions under which humans and nature can exist in productive harmony, that permit fulfilling the social, economic and other requirements of present and future generations.

Sustainable development is a development that meets the needs of the present without compromising the ability of future generation to meet their own needs.

Sustainability can be classified in to three broad categories.

• Environmental sustainability is defined as responsible interaction with the environment to avoid depletion or degradation of natural resources and allow for long-term environmental quality. The practice of environmental sustainability helps to ensure that the needs of today's population are met without jeopardizing the ability of future generations to meet their needs
• Economic sustainability is the ability to support a defined level of economic production indefinitely.
• Social sustainability is the ability of a social system to function at a defined level of social wellbeing.

Corporate houses are realizing that sustainability initiatives and outcomes can lead to a competitive advantage and value creation. Corporates and business enterprises can achieve operational efficiencies and cost optimization by following sustainability practices. Sustainability provides differentiation advantage by delivering products, services, and processes that do not harm the environment or society. Some even deliver in a way that enhances benefits to people and the planet. This will lead to a stronger brand and greater pricing power. Early adopters of sustainability initiatives are likely to gain a competitive advantage over their peers. This makes it difficult for competitors to catch up especially if continuous improvement are incorporated in sustainability practices.

Although a sustainability strategy is considered important and corporates are realizing that the company can achieve better brand acceptance and product acceptance from customer if sustainability strategy is well publicized. Sustainability strategy is essential to remaining competitive. Business model which includes sustainability as strategy to remain competitive are also central to brand building. Organizations that have made a sustainability-related business model change are likely to report profit from sustainability than are companies that have not.

Corporates in the changed scenario are looking for business managers who are sensitive to sustainability issues and are capable of, to incorporate sustainability as a corporate strategy for competitive advantage. In terms of competitive advantage, sustainability is a real differentiator.      

Aims Centre for Sustainability based upon the corporate feedback has planned several activities to enable and empower students to become ambassadors for sustainability and implement the sustainable practices when they embark upon the journey of a professional or entrepreneur. The ultimate learning objective of ACS for students is to be able to implement sustainability at their workplace after completing education through their actions and also influence actions of others.

Learning for sustainability at campus seeks to enable and empower students to make decisions and take actions that contribute to creating a sustainable society and ecosystem. ACS supports sustainability action as a pedagogical approach which will impart set of knowledge and skills to students. Students are taught strong sustainability knowledge, awareness and capacity for positive change by a well-defined process.

Some of the activities which ACS conducts on regular basis are mentioned below.

Augmentation program for AIMS students

ACS conducts well structures augmentation programs for all students to sensitize them about sustainability.

International Round Table conference

The annual round table conference on sustainability held at AIMS campus is one of the most admired event on Sustainability in India is a student-driven activity. Students get to meet and discuss with top professionals from corporates on sustainability, academicians from leading universities such as IISC, researchers and experts.

ACS regularly conducts following programs to ensure that students develop the required knowledge and skills to carry forward the mission of sustainability.

• Lecture series by experts of sustainability
• Exhibitions and poster competition
• Swatch Bharat camping in rural areas
• Working with Industries in Peenya Industrial area in Bangalore
• Awareness campaign for society by conducting runs, no horn campaigns, and engine shut off campaigns etc.
• Visiting old age homes, children school, destitute homes
• Visits to European countries to interact with sustainability experts and attend lectures in universities
• Participation in sustainability conferences and research paper presentations

ACS is working with industry to create new platforms for Corporate Social Responsibility initiative. AIMS Center for Sustainability endeavors to bring together senior level corporate executives, industry experts, and academicians to discuss and debate and find new ways of contribution towards corporate social responsibility. International Round Table Conference conducted every year helps to achieve this objective. ACS plans to have joint projects with the industry and work towards creating models which can be major step towards sustainable development. This will help in finding new avenues for business houses for contribution towards CSR.

AIMS Institutes established in the year 1994, strives to create dynamic leaders in corporate sector, entrepreneurs, academicians, researchers, and professionals who contribute to development of society and nation. We at AIMS Institute of Higher Education have taken a lead in the area of sustainability among educational institutions to develop corporate professionals who are concerned and care about sustainability through their actions at personal and corporate level.

About the Author: Dr. Brahm Sharma, Director, AIMS Centre for Sustainability, AIMS Institute of Higher Education, Bangalore, has a very rich blend of experience in corporate as well as academia. He has over 20 years of experience at senior level positions and has been in academics for the same number of years as Director and Professor of Management.