Responsible Business Decision Making: Strategic Impact Through Data and Dialogue

✍ Scribed by Prof. Dr. Annemieke Roobeek, Jacques de Swart, Myrthe van der Plas

• Publisher: Kogan Page
• Year: 2023
• Tongue: English
• Leaves: 377
• Edition: 2
• Category: Library

✦ Synopsis

In the past, profit was the driving force for most business investment decisions. However, now organizations need to additionally deliver on impact goals.

Responsible Business Decision Making provides a practical guide for how organizational leaders can make smart responsible business decisions. It offers a framework that eliminates internal bias, aligns ethical values with business goals and draws on diverse case studies. The book will answer questions such as: how can dialogue and data optimize decision-making? How can ESG goals be translated into concrete manageable actions? Which decisions best suit the strategic objectives of the organization?

This new edition has been updated to offer an increased focus on dialogue and data-driven decision making and new coverage on ESG, Sustainable Development Goals (SDGs), digital transformation and the Raworth's Doughnut Economy framework. Readers will benefit from many new international cases covering topics such as ESG investment, SDG impact measurement and sustainability transformation.

✦ Table of Contents

Cover
Contents
List of figures and tables
About the authors
Preface
Acknowledgements
PART ONE Relevance and context
01 Working towards responsibility in business and society
From awareness and evidence to systems change
The rise of the notion of sustainability
Sustainability reflected in the use of standards and indices
The circular economy as integrating approach
Circular economy examples in business practices
The Responsible Business Simulator and the circular economy
References
02 Creating shared value as a framework for shaping strategy
The concept of shared value
Balancing societal and economic objectives
Opting for sustainable business practices is a strategic choice
Towards creating a shared value strategy
Rolling out shared value through the Responsible Business Simulator
References
03 Innovation and sustainability as catalysts for responsible growth
Innovation for sustainability is the way to go
Sustainability as an incentive for rethinking the economic paradigm
The impact of sustainability on neoclassical business models
Consequences of sustainability and innovation for a circular and inclusive economy
References
PART TWO Concept and methodology
04 Dialogue and stakeholder engagement in decision making
Integrating stakeholder engagement into the decision-making process
Dialogues with stakeholders for understanding, co-creation and acceptance
The importance of interactivity in decision-making processes
Interactive adjustment and determination of key outputs
Complex issues require an interdisciplinary approach
Collaboration for new insights and actionable results
References
05 The Responsible Business Simulator: the heart of the strategic decision-making process
Step 1: describing the strategic challenge that requires a decision
Step 2: defining key outputs involving stakeholders
Step 3: determining decision maker’s options
Step 4: drawing up scenarios
Step 5: constructing the simulation model
Step 6: evaluating options by assessing strategic priorities
Step 7: evaluating options by assessing risk appetite
References
06 Strategic decision making based on data and dialogue
Action research as suitable method
Action research to unleash collective intelligence
Data science in strategic decision making
Avoiding the pitfalls of spreadsheet modelling
Strategic decision making via the Responsible Business Simulator
The added value of combined research methodologies
References
07 Using the Responsible Business Simulator
Step 1: describing the strategic challenge that requires a decision
Step 2: defining key outputs involving stakeholders
Step 3: determining decision maker’s options
Step 4: drawing up scenarios
Step 5: constructing the simulation model
Validating simulation model
Step 6: evaluating options by assessing strategic priorities
Step 7: evaluating options by assessing risk appetite
References
PART THREE Practical applications
08 Using SDGs to develop and deliver professional services
About PwC
Wicked problems and SDGs
The strategic decision-making process
Describing the strategic challenge that requires a decision
Defining key outputs involving stakeholders
Constructing the simulation model
Results
Reflections
References
09 Accommodating Ukrainian refugees
About the Ukrainian refugee influx
Finding the best allocation of budgets for integration of refugees
The strategic decision-making process
Describing the strategic challenge that requires a decision
Defining key outputs involving stakeholders
Determining decision maker’s options
Drawing up scenarios
Constructing the simulation model
Evaluating options by assessing strategic priorities
Evaluating options by assessing risk appetite
Evidence in practice for mixed allocations
Reflections
References
10 Increasing the social impact of banking
About de Volksbank
About quality of life and good housing
The strategic decision-making process
Describing the strategic challenge that requires a decision
Defining key outputs involving stakeholders
Determining decision maker’s options
Drawing up scenarios
Constructing the simulation model
Evaluating options by assessing strategic priorities
Evaluating options by assessing risk appetite
Reflections
References
11 Creating a healthy and productive working environment
About IZZ
Empowering employees
The strategic decision-making process
Describing the strategic challenge that requires a decision
Defining key outputs involving stakeholders
Determining decision maker’s options
Drawing up scenarios
Constructing the simulation model
Evaluating options by assessing strategic priorities
Evaluating options by assessing risk appetite
Reflections
References
12 Reducing greenhouse gas emissions
About DSM
About energy sourcing
The strategic decision-making process
Describing the strategic challenge that requires a decision
Defining key outputs involving stakeholders
Determining decision maker’s options
Drawing up scenarios
Constructing the simulation model
Evaluating options by assessing strategic priorities
Evaluating options by assessing risk appetite
Reflections
References
13 Sustainable procurement decisions for waste collection systems
About Rimetaal (now part of Kliko)
Sourcing waste collection systems
The strategic decision-making process
Defining key outputs involving stakeholders
Determining decision maker’s options
Drawing up scenarios
Constructing the simulation model
Evaluating options by assessing strategic priorities
Evaluating options by assessing risk appetite
Reflections
References
14 Putting roof renovation in a strategic context
About NEMO
Renovating NEMO’s roof
The strategic decision-making process
Describing the strategic challenge that requires a decision
Defining key outputs involving stakeholders
Determining decision maker’s options
Drawing up scenarios
Constructing the simulation model
Evaluating options by assessing strategic priorities
Evaluating options by assessing risk appetite
Reflections
References
15 Conclusions
Facilitating decision making for systems change and sustainable practice
Overview of cases
Reflections – and looking forward
References
Glossary
Index