Time is pressing – new business models are necessary

“Leaders have a primary responsibility to ensure sustainable value creation in an era of major change”- said Doreswamy Nandkishore (‘Nandu’) at BCSDH’s business lunch which focused on sustainable lifestyles. The award-giving ceremony of the “For a Sustainable Future” prize was also held at the event to recognize outstanding leaders and business solutions. 

18 October, 2018, Budapest An introduction to the two-point recommendation for the business sector showing the way to promote sustainable lifestyles was presented at the business lunch of the Business Council for Sustainable Development in Hungary (BCSDH).

The organization, which embraces 82 member companies that contribute approximately 30% of Hungary’s GDP, has now presented the For a Sustainable Future Prize for the second time in three categories: Change Leader, Leading Women, and Business Solutions.  

There’s a need for change and new business models, but sustainable value creation should still be the focus – Speech of Nandu Nandkishore

We are living in an era of big changes, where  the survival of organizations depends on their capability to adapt and change  – said Doreswamy Nandkishore (Nandu), former Executive Vice President for Nestlé SA, and currently Executive Fellow of Strategy and Entrepreneurship at London Business School “But one thing cannot change: commitment to principles and values, as this is the basis of trust, and is not concrete, but is still the permanent and everlasting basis of the value of companies. Thus, creating sustainable value and building trust are the primary responsibilities of leaders.”

Nandu highlighted that it is increasingly urgent for businesses and companies to make changes, and managers need to prepare their companies for wider changes in business models.

BCSDH’s recommendations for promoting the uptake of sustainable lifestyles

“According to a report by the United Nations, we only have 12 years left to stop climate change and step onto a path of sustainability. For this to happen, it is essential that sustainable lifestyles become more general. In promoting their uptake, companies have a clear role and responsibility. Fortunately, the commitment of companies to this goal is increasing both globally and on the domestic level too” said Attila Chikán Jr., President of the BCSDH in a speech that also introduced the two-point recommendation which was put together by BCSDH and the leaders of its member companies to help the business sector take the steps necessary for promoting the uptake of sustainable lifestyles.

BCSDH’s recommendations to the business sector for promoting sustainable lifestyles:

  1. Change business models to make sustainable products and services competitive
  2. Shift consumer demand towards sustainability through brands

Over 80 senior executives, civil and scientific experts took part in the preparation and wording of the recommendation. As a result, solutions for both the business sector and its stakeholders have been identified that can positively impact the sustainable lifestyles.

Click here to see the photo gallery of the event.


Sponsors of the Action2020 program in 2018:


Cooperating partners:

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