Tuesday, October 13, 2009

Learning from corporate responses to environmental regulation

How can financial institutions best respond to today's regulatory debate?

The article 'Why sustainability is now the key driver of innovation' from September's Harvard Business Review has already been blogged about elsewhere (e.g. here).

But I think it is still worth highlighting that banks and financial institutions could find its model useful in rebuilding trust and profitability. C.K. Prahalad and colleagues propose this five stage model:

Stage 1: Viewing Compliance as Opportunity
Stage 2: Making Value Chains Sustainable
Stage 3: Designing Sustainable Products and Services
Stage 4: Developing New Business Models
Stage 5: Creating Next-Practive Platforms

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