If there’s one thing that every MBA program emphasizes, it’s thinking big. Looking at a business in only small sections or chunks won’t give you the entire picture. In fact, it can make you blind to what’s actually happening. At least that’s the message that was shared at Ivey Business School’s Think Big Forum.
The forum, which was organized by MBA students and introduced a panel of six experts spoke about the importance of business sustainability. And while there was a lot to takeaway from the event there were two key lessons: long-term prosperity and cooperation.
Emphasizing Long-Term Prosperity
According to the MBAs in attendance, the long-term prosperity of your business is far more important than short-term profitability for sustainability. The forum dealt with quantifiable metrics and provided useful tips for sustainable business practices. The panelists’ goal was to dispel common misconceptions about long-term prosperity and to focus on how growth doesn’t occur in a closed system but includes societal challenges such as climate change, over-consumption and environmental degradation.
“The Forum became a two-way conversation on sustainability between industry experts, high-level executives, students and sustainability enthusiasts,” Daniel Fuentes, a 2017 MBA candidate, said in a blog. “The discussion revolved around how sustainability can give companies and organizations new sources of competitive advantage. The panel of thought leaders presented a series of arguments that inspired the audience to continue learning and discussing the impact sustainability can have on their organizations’ bottom line, operations, and value proposition.”
Cooperation Is Necessary
The other key takeaway for MBAs at the forum was the importance of cooperation. Though the six expert panelists each came from different businesses and different backgrounds, they were working together toward a common goal.
“While we had representation from the fields of academia, equity and derivative investments, entrepreneurship, construction, chemicals and manufacturing, what was most striking to me was the interconnectedness of our speakers’ organizations,” said Matthew Ellliott Lui, a 2017 MBA candidate. “The camaraderie, rapport and mutual respect between our panelists highlighted the need for firm cooperation to accelerate the development of innovative new solutions that create value without being detrimental to the environment or society.”
Lui recognized the importance of inter-organizational relationships for long-term sustainability projects. Cooperation between companies and individuals is the key to fundamentally transform the way that business is done.