Business Case Be Damned!

By Justin K. Lacey (Guest Blogger)

Over the last couple of days at the UBC Summer Institute in Sustainability, we’ve spent a great deal of time discussing, in one way or another, the “business case” for sustainability. It’s an area of great interest for businesses large and small, and many feel that it’s the key for companies to identify those opportunities that add business value while promoting environmental and social benefits.

What I find ironic is that, all of a sudden, there exists this belief that every business on planet earth completes an exhaustive business case before they make any business decision bigger than where to order lunch for the afternoon brainstorming session.

I have worked for companies large and small, all quite successful, and we made many decisions without the aid of a detailed business case. And even when we did complete a business case, assumptions and “gut instinct” were never too far removed from the final recommendation. Business people have pet projects and initiatives that they feel are “strategic” and always find a way to get them implemented – business case be damned.

Truth be told, none of that really matters any more – the business case for sustainability is incredibly strong, and getting stronger each and every day. Reduced energy usage, improved efficiency, enhanced brand image and greater employee engagement are all positive factors that need to be included in the business case for any sustainability initiative. And as the cost of various “externalities” (a term coined by economists to describe the full “cost” to the environment of a given business activity) are factored into the price of all sorts of goods and services, the case for sustainability is only going to get stronger.

As a small business owner or entrepreneur, the key is to identify specific environmental or societal issues that are strategic to your business. Every business relies on something the earth provides, or a service from a particular group of people.  The key is to identify opportunities that both add value to your business and contribute to addressing the environmental or societal issues affecting your company’s long term viability. If you feel your business is too small to make a difference on its own, then you need to work with other, like-minded businesses or work through your trade group or business association.

Over time, each and every business will do the math and determine that the business case for sustainability is in fact the only business case that matters.

Tomorrow will be my final guest post and I will be providing a few final, likely random, thoughts about business, sustainability, and my 5 days at UBC.

Justin K. Lacey is the founder of Walk Softly Communications and a friend of Retail Prophet