Sustainable Business
What are the key steps in the ISO 31000 risk management process?
The ISO 31000 risk management process includes five essential steps for identifying, assessing, and managing risks. First, identify risks faced by your organization. Second, analyze the likelihood and possible impact of each risk. Third, evaluate and prioritize risks based on business objectives. Fourth, treat or respond to risk conditions through appropriate actions. Fifth, monitor the results of risk controls and adjust as necessary. This framework helps organizations establish a systematic approach to risk management by determining their risk appetite and implementing effective controls. While straightforward in concept, the process requires a solid understanding of organizational operations and includes upfront methods to establish scope, business context, and risk criteria to effectively manage threats and opportunities.
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Eye on Tech
01:44 - 09:14
What are the key changes shaping procurement as we head into 2025?
As procurement approaches 2025, three significant changes are transforming the field: AI integration, workforce demographics, and evolving focus. AI will revolutionize operations but requires careful management of privacy concerns and skill gaps. Meanwhile, the workforce is shifting as experienced professionals retire while younger talent remains hesitant to enter procurement, forcing teams to rethink talent strategies. Procurement's focus is also evolving from traditional cost-cutting to value creation, risk management, and sustainability. By embracing these trends as opportunities rather than challenges, professionals can achieve better outcomes for their teams and organizations in this changing landscape.
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Procurement Tactics
11:09 - 11:53
How can consumers drive businesses toward more sustainable practices?
Consumers can drive businesses toward sustainability by using their purchasing power to communicate their values. When customers demand ecological responsibility by buying sustainable products and rejecting environmentally harmful ones, companies listen and adapt. This creates a virtuous cycle where businesses improve their supply chains to stay competitive, leading to better products. As these practices become standard, consumers continue to raise the bar, driving a perpetual upgrade process in companies. Major retailers are already planning ahead to be the ecological leaders in their sectors, recognizing that environmental responsibility makes good marketing sense.
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Dominican University of California
36:21 - 37:56
Why is being self-funded important to a sustainable business?
Being self-funded means a business operates with money it has earned rather than money it's been given. Jason Fried explains that this creates a natural constraint that prevents waste and encourages efficiency. When companies have limited resources, they're more careful with spending, similar to rationing water on a hike rather than wastefully consuming when resources appear unlimited. Self-funded companies tend to maintain leaner structures with fewer management layers, which allows them to move faster and make better decisions. This approach emphasizes profitability over metrics like user growth or revenue that might obscure financial reality. For 37signals, profitability has been the primary focus for 24 years, ensuring they can sustainably remain in business regardless of market conditions.
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The Pudding Factory
25:51 - 28:24
What will it take to drive more sustainable funding to India?
According to John Doerr, India must invest in five critical areas to drive sustainable funding. First, financial incentives need to be enhanced. Second, government R&D investment must increase. Third, venture capital needs to play a more significant role in India's sustainability landscape. Fourth and largest is project finance to fund major initiatives. Fifth is philanthropic investing, which is particularly important for catalyzing change. Doerr's plan calls for increasing global government subsidies for sustainability from $120 billion to $600 billion, creating a foundation for meaningful climate action in India.
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Environmental Defense Fund
19:40 - 20:54
How did Satish Kumar build Milky Mist into a 2000 crore company?
Satish Kumar built Milky Mist into a 2000 crore company by identifying a gap in the market and transforming a commodity (milk) into value-added branded products, thus avoiding price wars with competitors. He established trust with farmers through collaboration rather than exploitation, helping them deliver maximum value while increasing his own profit margins - embodying conscious capitalism principles. Additionally, he created a robust logistics supply chain and prioritized quality control by bringing critical operations in-house rather than outsourcing them. While this approach meant higher initial costs, it provided greater control over quality and efficiency, ultimately paying significant dividends and enabling the company to achieve remarkable growth in the competitive dairy industry.
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Think School
19:15 - 20:42