Why Are Corporate Ambition and Culture Vital for Sustainability?

Eric Viardot
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Eric Viardot: EADA Business School Barcelona

Chapter 2 in The Timeless Principles of Successful Business Strategy, 2017, pp 3-9 from Springer

Abstract: Abstract Sustainable companies have a purpose beyond money. For them, profitability is a means but not an end because they know that, apart from financiers and some shareholders, few are in love with profits. Enduring firms have an ambition that reflects what they want to bring to the world, sometimes with a social, political, or ecological connotation. This ambition is defined in relation to their existing or future clients, and definitely not on the mastering of a particular resource or in reaction to competitors. A strategic ambition presents numerous advantages for leaders. First, it provides a framework to clarify priorities and to structure punctual transactions to be achieved. Next, it is a compass that indicates the direction for all employees. A strategic ambition is also a filter that helps executives sift for development opportunities. Finally, it is the cement that unites different functions and departments which can be quite heterogeneous within a firm. A clear ambition is not sufficient to achieve long term success because human beings are not only rational but also emotional. Consequently, sustainable firms reinforce their strategic ambition with a strong corporate culture in order to convert strategic decisions into effective actions and guide their employees’ daily decisions and behaviours.

Keywords: Strategic Decision; Corporate Culture; Corporate Sustainability; Sustainable Company; Sovereign Wealth Fund (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-662-54489-1_2

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DOI: 10.1007/978-3-662-54489-1_2

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