BOOK REVIEW: GREEN TO GOLD

Green to Gold: How Smart Companies Use Environmental Strategy to Innovate, Create Value and Build Competitive Advantage

by Daniel C. Esty and Andrew S. Winston

"No executive can afford to ignore the Green Wave sweeping the business world. This book shows how to make sustainability a core element of strategy - and profit from it." ~ Chad Holliday, CEO, DuPont

Environmental issues are no longer just the concern of government, NGOs and eco-minded individuals. Societal knowledge, and awareness of these issues has led to an increase in corporate accountability. This book offers a structured guide on how to become a part of the Green Wave and achieve Eco-Advantage for your business. To do this, authors Esty and Winston provide examples of corporate losses and gains, strategies to achieve Eco-Advantage, and tools needed for eco-tracking, redesign and culture-building. This book builds an organized argument for the importance of proactive environmental planning and decision-making that even the most conservative, profit-minded businessman cannot refute. 

The argument begins with background case study examples from  Sony and BP to compare the downside costs and upside gains that can result from ignoring or managing for environmental risks. The authors then follow with background information on the top 10 environmental issues, important stakeholders, and the top 50 Green Wave corporations doing the best to address these issues. The book then addresses how to get started on obtaining your Eco-Advantage.

The authors offer an organized Eco-Advantage toolkit. This includes how to: cultivate an Eco-Advantage mindset; develop eco-tracking through AUDIO and Life Cycle Assessment tools; redesign and drive innovation; and create a business culture that incorporates Eco-Advantage decision-making as part of everyday actions. Their green-to-gold plays address eight important areas to help reduce downside costs and risks and maximize revenues and intangible gain. This includes managing for things such as eco-efficiency, eco-risk control, eco-sales and marketing, and intangible value. The book has a very positive outlook on the value of joining the Green Wave, but it does not ignore the fact that some environmental initiatives will fall short or fail. To address this the book explains thirteen actions that lead to failure along with solutions and tools to avoid them.

The examples and strategies in Green to Gold are best geared towards medium to large businesses or corporations, however, as the authors point out environmental accountability is also becoming more and more important for smaller businesses as well. This book offers an interesting read with numerous examples, summary tables, and key highlighted points that make the information and strategies very accessible and easy to follow. For this reason, SSC recommends this book to any business owner or manager concerned with their bottom line and how to deal with environmental issues that affect it. 

BOOK REVIEW: Values-Driven Business

Values-Driven Business: How to Change the World, Make Money and Have Fun
Authors: Ben Cohen and Mal Warwick

What is the definition of Corporate Social Responsibility (CSR)? Ask 5 people and you will likely get 5 different answers. Mal Warwick and Ben Cohen’s book does not offer us a specific definition, but openly describes the unlimited options that businesses have to incorporate the various CSR values each finds uniquely important.

Perhaps your business would like to make a priority of giving back to the community or working on creating a supply chain that has minimal negative social and environmental effects, but you do not know how to get started. Maybe you are a business owner that desires to generously reward your employees, but fears it could affect your “bottom line.” Values-Driven Business inspires and encourages companies to pursue their own individual choices for CSR by sharing a number of stories from existing successful companies.

For instance, Juniper Communities, an assisted living company, built a 95-unit facility following nationally recognized building standards, resulting in a LEED certified building and revealing its commitment to a lighter footprint. Immaculate Baking not only buys the rights for the art used on its packaging for its organic goods, but was inspired to create a foundation that supports many of these artists that were more than just “struggling”, but barely surviving. Eileen Fisher, a women’s clothing company, offers a generous benefits package to its employees that includes profit sharing and $1000 per year, per employee for wellness classes and treatments.

Just as important as its stories, this book becomes an invaluable resource providing suggestions and tools a business can use to take the first step in implementing values unique to the goals of each enterprise. The authors decide to use the term Value-Driven Business in their book rather than CSR, but as explained in the preface it is a personal preference and along with a number of other common terms, can be used interchangeably.

The authors focus on the Small and Medium Based Businesses out there that are either curious about this concept or are ready to jump head first into this emerging and exciting facet of business. Whatever the goal of the reader, this book takes a step-by- step approach to encouraging enterprises to make decisions based on social, environmental and economic principles. It asks the reader critical questions such as “why are you in business?”, “are you ready to take the plunge?” and “can you make money in a values-based business?” The authors provide the guidance and tools for each individual business to answer the questions for itself.