A recent study was anchored by the BCG titled the SEDA (Sustainable Economic Development Assessment) report. This study was about the correlation between any nation’s wealth with its developmental agenda. Two key findings were made. Contrary to popular expression, wellbeing has actually increased in spite of the 2008 global financial crisis. This well-being however did not affect the near-term economic growth of the countries. BCG also conducted another study titled TSI (Total Societal Impact) where it found that the financial performance actually rose as a result of better social and environmental measures taken up. Companies would thus be well advised to tweak their corporate strategy in a way that it can also incorporate social and environmental elements within the game plan. A mindset needs to be cultivated where people are ready to think differently. Leaders need to reset their traditional strategic planning to connect to more constituencies.

https://www.linkedin.com/pulse/combining-economic-growth-social-well-being-david-young/?linkId=55119478

Uploaded Date:09 August 2018