About this post’s title: you might think it’s ludicrous to think about planning for 2050 when the quarter is 2 weeks from closing and you’ve yet to meet all of your targets. In our most recent post, we shared that we’ve successfully convinced some of our clients to co-write 5-, 10-, or even 20-year plans. Here’s why looking even further forward – yes, even 38 years – is so critical.
Marketing 101 classes emphasize the 4 Ps: product, price, place, and promotion (sometimes adding “positioning”). Each of these strategic categories depends on the societal needs and attitudes that drive customers to buy your products and services. And if Vision 2050, a study by the World Business Council for Sustainable Development (WBCSD), is correct, population growth and resource constraints will upend customer concerns such that many of the products and services we offer today will be irrelevant.
The WBCSD suggests hope for a true future of sustainable profitability. A CEO-led organization of companies, the WBCSD is dedicated to galvanizing the global business community to create a sustainable future for business, society and the environment. Their agenda includes:
• Incorporating the costs of carbon, ecosystem services and water into the structure of the marketplace;
• Doubling agricultural output without increasing the amount of land or water used;
• Halting deforestation and increasing yields from planted forests;
• Halving carbon emissions worldwide (based on 2005 levels) by 2050 through a shift to low-carbon energy systems;
• Improved demand-side energy efficiency, and providing universal access to low-carbon mobility.
We commend companies in our industry, like electronics distributor Premier Farnell, who’ve been inspired by Vision 2050 (and other sustainable thinking) to support products and services that will bring true sustainable profitability decades from now.
While you may or may not agree with the predictions and recommendations in Vision 2050, if even 25% of them are realized it’s clear that successful careers and businesses will be those aligned with change. If you’ve been in the tech industry or business more than 5 years, you know that change is the one promise we can count on.
Join us in taking a short break from this quarter’s urgencies to check out the Vision 2050 report and consider the impact of global and societal changes on the tech industry and our successful companies. What do you think are the best roads to sustainable profitability? What industry-led organizations do you see working towards this goal?