The challenges for the years to come are obvious. By now, every procurement officer is aware that population growth, climate change and scarcity of raw materials are fundamentally influencing the way of doing business. The question however still is how to address these.  

 

As national governments are limited by geographical boundaries and dependency on voters and consumers are primarily focused on price, there is a huge opportunity for business to take a lead. However, doing business with societal value in mind does not seem to be a regular approach nowadays. Michael Porter even said that it seems to be a common mindset to think that if something is good for business it must be bad for society. He suggests that it is time for a new capitalism that turns this perception around. Sustainability is not to be regarded as a responsibility, but as a way to increase the size of the pie. Shared value is about creating value for society and thus being prosperous as a business. Business should not think of society as a source for charity, or the need of ‘giving back’, but recognize real needs that can be satisfied through business solutions.

 

Throughout the conference many examples were discussed on how companies optimize their supply chains by integrating sustainability. It can be concluded that partnerships with local communities, a competitor or the local authorities are crucial to achieve that goal. These are necessary steps for business in order to secure long-term value creation. Moreover it may strengthen the reputation of business as a source for strong and prosperous societies.