The concept of sustainability is built upon three essential pillars:
1. Economic (profits): Ensuring the financial viability of the business.
2. Social (people): Acknowledging responsibility towards the society and employees.
3. Environmental (planet): Recognising the obligation to safeguard the planet.
This approach to sustainability means that organisations must consider the broader implications of their decisions beyond merely financial outcomes. As quoted by the Financial Reporting Council
"a successful company is led by an effective and entrepreneurial board, whose role is to promote the long-term sustainable success of the company, generating value for shareholders and contributing to wider society."
Business Analysts are uniquely positioned to promote sustainability within their organisations. Here's how they can embrace and drive sustainable practices:
1. Understanding Sustainability - BAs must understand sustainability to drive it. This can be done from the outset when assessing factors that are beyond the immediate control of accompany by analysing the external environment through a PESTLE analysis.
2. Identifying Sustainability Goals: BAs can help stakeholders define the organisation's sustainability goals when analysing their perspectives with a CATWOE. These could include increased recycling, improving labour practises, and community engagement.
1. Sustainability Impact Analysis: When analysing company strategy and solutions, consider their sustainability impacts. This could involve assessing a solution's carbon footprint or social equality.
2. Sustainability Requirements: Consider sustainability when creating company requirements. You could require an energy-efficient or circular economy / waste reduction-based solution.
3. Stakeholder Engagement- Sustainability conversations with stakeholders in a workshop. This can assist sustainability goals with other corporate goals and gain a buy in from all parties.
1. Promoting Sustainability Awareness: Business Analysts can help raise sustainability awareness in their organisations. Sharing sustainability trends, best practises, and business benefits may be appropriate.
2. Supporting Sustainable Decision-Making: company Analysts can provide data and insights on the sustainability consequences of company decisions. You may demonstrate how a suggested programme would cut energy or waste.
3. Leading by Example: Business Analysts can demonstrate sustainability in their job. cut paper consumption, employ energy-efficient technology, and promote virtual meetings to cut travel emissions.
Business Analysts may need new skills to promote sustainability.
1. Sustainability Literacy: Understanding sustainability principles is crucial. This involves understanding of sustainable business practises, sustainability standards and legislation, and business's environmental and social impacts.
My journey in understanding sustainability started with the CBI Professional Banking Diploma where I explored subjects on sustainable finance.
2. Sustainability Analysis: Understanding how company decisions affect sustainability is essential. Life cycle assessment, carbon foot-printing, and social impact assessment may be needed.
3. Change management: Sustainability projects require major change. Business Analysts can succeed with developing their change management skills.
The shift towards sustainability is not merely a trend but a corporate necessity. Organisations around the world have become more aware of the need for socially responsible behaviour and the benefits it brings. BAs play a critical role in this transformation.
In the long run, the success of organisations is tied to the health of the world's ecosystems. Today's companies are subject to greater scrutiny by their various stakeholders, and BAs are the key players who can align corporate goals with societal needs.
Sustainability might be challenging, but the benefits for businesses, society, and the world are well worth the effort. As Business Analysts, we have an essential part to play in pioneering this change, promoting sustainable growth, social well-being, and environmental protection.
