by Heather Burns
If yesterday's 4th Annual CBIA Sustainability Conference was any
indication of whether Connecticut is embracing sustainable business
practices - the answer is an unequivocal yes.
Executives
from IBM Corporation, AT&T, and
Microsoft sat on the first panel moderated by Michael Ellis of
GreenOrder. Panelists reviewed emerging technologies and new products
and services recently launched to help their clients save money,
conserve natural resources, mitigate risk and aid in a global transition
to more sustainable business practices.
When asked the question,
"In identifying opportunities for new business development around
sustainability, what are some of the key indicators you look when
deciding to pursue a particular new product or service?" the panelists
identified several:
First, they look for opportunities to take an
internal initiative and turn it into a new product or service - that
is, if we spend resources internally to make improvements, how can we
create ROI by offering something new to our clients? Second, is there
economies of scale? Can we deliver what we accomplish in a pilot to our
suppliers, our customers and even our vendors? Third, do we have an
existing market to tap into or better yet, can we identify an
opportunity to create a whole new one?
It was interesting to learn that AT&T looks toward its suppliers
to make changes, and like Wal-Mart, helps them with implementation. In
fact, Wal-Mart created Supplier Energy
Efficiency Project (SEEP) - and spun a whole new business out of a
successful internal energy efficiency program - which may be an
indicator as to why sustainability is being touted as the master of new
business innovation.
All panelists stressed the importance of engaging in a dialog with
employees, customers, vendors, and stakeholders. Only after learning
what stakeholders identified as valuable, were they able to compare that
information with existing or impending regulations that may eventually
require their clients and suppliers to measure, monitor and report.
So
if three of the country's corporate giants are unearthing new business
opportunities from a world transitioning away from business as
usual, to one that utilizes integrative economic design,
then what are the rest of us waiting for?
Click
here to download the brand, spanking new, 2010 CBIA Sustainability
Survey.