Sustainability at the core: 7 corporate lessons to help companies on their road to recovery

We have seen countries and businesses across the world struggle when the COVID-19 pandemic hit. The responses varied largely with some experiencing unrecoverable losses, while others were able to adapt faster to the new reality and were able to innovate and change their business models. As we have seen from other global crises in the last century, while the impacts are devastating on many fronts these challenges can create new opportunities for those that are ready to tackle them and can substantially change our way of life.

From reading the recent article from BCG (Boston Consulting Group, link below) some of the practices these companies adopted included:

• stabilizing production and operations through resilience
• maintaining strong relationships and engagement with suppliers
• focusing on employee safety as they transitioned back to work but also while keeping them motivated and engaged
• taking decisive and swift actions to maintain strong financial health
• transitioning to e-commerce, digital services, and social media 

As I read through these inspiring stories it became quite notable that none of these would have been possible without a strong foundation of sustainable practices upon which these businesses operate. All these companies had areas of strength they chose to build on to benefit their business. Only this combined with leadership vision could explain their rapid success towards recovery.

Isn't this a great reflection of ROI (return on investment) and proof that sustainability creates growth and opportunity for businesses and society at large? 

I think it is. Especially during these times when some questioned whether the pursuit of sustainability and ESG goals would remain at the top of the corporate agenda amidst this crisis,  it is reassuring to see that it would, definitely.