Abstract
In today’s complex and changing business environment the concern with sustainability has gained more notoriety. However, companies still do not have a sustainable perspective, but a short-term one, where their values are constantly forgotten and this concept is no longer welcomed. This research demonstrates the need for companies to adapt and to start acting in this direction. Following a set of interviews conducted with professionals with management positions of high responsibility, findings reveal that although sustainability is on the management mind, strategies and tools need to be adapted to be at the core of the organization’s strategic formulation. To support this process, a new SWOT analysis to fit a forward-looking sustainable world is proposed. Furthermore, due to the aggregative nature of the model, it represents an essential tool for an open innovation. “SWOT i” integrates the concern with sustainability as one of its pillars, placing the values and impacts that each decision can have at the center of the strategic formulation, allowing their performance to leverage.
Highlights
In the last few decades, we have been witnessing several changes in the business environment, which are increasingly complex and more competitive, making life more complicated for companies and their decision-making process
If we look at the branches that contain sustainability, these are linked to the green stems containing the word “strategy”, so by analyzing the figure, it is possible to conclude that there is a relationship between the two words
The first question in this research was “How is sustainability integrated into business strategy?” This was answered in each of the 25 interviews, and in all of them, the interviewees first mentioned the importance and relevance that sustainability has or could have in the future of the company and this comes as no surprise because, as Bolis et al and
Summary
In the last few decades, we have been witnessing several changes in the business environment, which are increasingly complex and more competitive, making life more complicated for companies and their decision-making process. How to plan and formulate strategies for enterprises plays a decisive role because the strategy is a pattern of objectives, purposes, and goals, and the main policies and plans to achieve them, expressed in a way that defines what business the company is or should be and the type of company it is or should be [1]. The SWOT (strengths, weaknesses, opportunities, and threats) analysis was taken as an object of study [3], because it is still today one of the most used tools by any company regardless of its size or industry where it operates and because of its simplicity and clarity with which it is used [4]. Throughout the literature review, many criticisms have been made to SWOT analysis [5], no author identified a very serious gap that is not incorporating sustainability as one of its dimensions, nor integrating the values and impacts of each decision at the heart of its strategic formulation
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