The topic of sustainability has now become a major driver for businesses around the world, not only as a response to environmental and social challenges, but also as a strategic lever to improve corporate competitiveness. Over the course of this year, we have explored various aspects of this issue, which in this last article of 2024 we would like to go over with you in a comprehensive overview, making a few remarks about what the future holds, especially when it comes to sustainability and future prospects.
The global dimensions of sustainability
In an increasingly globalized world, talking about sustainable internationalization is possible but, more importantly, increasingly important. In particular, it is necessary to understand and intercept what are the specificities and levels of attention of the different dimensions of sustainability (environmental, social and governance) in different countries around the world. Each nation has its own priorities, resources and challenges, which influence how companies approach sustainability. While developed countries tend to focus more on environmental issues, developing countries place a strong emphasis on social sustainability, such as fighting poverty and improving living conditions. Knowing the context one intends to address and integrating sustainability into one’s internationalization strategies is therefore increasingly a key variable for the success of these pathways.
Sustainability as a competitive advantage: the importance of SMEs and communication
Thinking not only from a view of individual companies but the broader system context in which they are all embedded, another aspect noted is that of the involvement and contribution of small and medium-sized enterprises (SMEs) in the green transition. These companies, which are unfortunately often overlooked when it comes to sustainability, are actually driving significant changes driven by the sustainability-future-perspectives pair, thanks to their agility and ability to adapt quickly to new challenges. SMEs are able to implement innovative solutions at low cost and with a positive impact on the local area and community. Green initiatives are no longer an option, but a necessity even for these companies, which face increasing pressure from consumers, regulations and the global marketplace.
Added to this is another key piece: the ability to effectively value and communicate the efforts undertaken for sustainable initiatives. Transparency has become an imperative, but it is no longer enough simply to declare a commitment to sustainability. Companies must be able to tell the story of their journey, achievements, and future goals. Communicating authentically and clearly not only increases consumer trust, but also helps build a solid reputation that translates into a competitive advantage.
Tools for effective transition: from regulations to technologies
Finally, the gradual expansion of legislation to include new categories of companies has also contributed significantly to the further relevance of sustainability. The introduction of the Corporate Sustainability Reporting Directive (CSRD) marked a turning point, requiring companies to be more transparent and accountable in reporting their sustainability performance. The path of integrating sustainability into their business strategies therefore becomes an element of reflection that more and more companies are called upon to implement, in a coherent path that starting from the identification of the most critical dimensions for the business leads to the planning and implementation of initiatives aimed at addressing them with a view to progressive and continuous improvement over time.
In this, new emerging technologies also represent important tools that, appropriately selected and dropped into the context of companies, can provide concrete support to the more overall process of transition and improvement of their competitiveness.
Final reflections on sustainability and future prospects
Looking at the sustainability-future outlook combination, it is clear that sustainability is not only a challenge but also a great opportunity for businesses. Companies that can effectively integrate sustainability into their business strategies will not only improve their environmental and social impact, but will also be able to respond more nimbly to the needs of an ever-changing market. Indeed, sustainability becomes an important lever to innovate, reduce costs, increase consumer confidence and, most importantly, improve global competitiveness.
The choices that companies make today in terms of sustainability will therefore have a crucial impact on their future success in a world where natural resources are limited and consumer and regulatory expectations are ever increasing. Therefore, our commitment to sustainability cannot be seen as a goal to be achieved, but as an ongoing journey of improvement and adaptation.
We at Roncucci&Partners have been helping Italian SMEs improve their business competitiveness for more than 20 years, and today, as then, we are able to structure an organic path for companies to integrate sustainability into their strategies as a new business development lever, in Italy and abroad.
At Roncucci&Partners we help companies develop themselves and their business, embrace change and evolve to thrive in a world that is increasingly complicated, insidious and requires great expertise. We do this by applying punctual methods and rigorous strategies, the result of many years of experience and the richness of the numerous success stories we have conducted all over the world. Passion and method are indeed our guides to enhance the present and build the future.
