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CEOs Embrace Sustainability as a Cultural Shift in Business Strategies: Insights from Lokesh Prasad, MD, AliveCor
Sustainability is as crucial as driving growth for businesses, it is essential to practice sustainability continuously to make it a part of the organisational culture - Lokesh Prasad, MD of AliveCor
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In a conversation between Lokesh Prasad, MD of AliveCor, and Harbinder Narula, CEO of BW Health Care and Well-Being World, the topic of discussion was "Driving Change: CEOs Embracing Sustainability as a Strategy."
“Sustainability is a cultural shift that should begin at the grassroots level”, said Prasad.
He stressed that sustainability is as crucial as driving growth for businesses. He emphasised that it is essential to practice sustainability continuously to make it a part of the organisational culture. Reflecting on the changes in consumer behaviour, he highlighted how the shift from plastic straws to eco-friendly alternatives is an example of how change occurs with practice.
When discussing the challenges faced by small business owners, Prasad pointed out that they are often more mindful of sustainability due to limited resources. The key, according to him, is to make sustainability an everyday affair for everyone, regardless of the size of the business.
Regarding his role as a CEO, Prasad highlighted the importance of sustainability as an agenda item in company meetings. He added, “The need to allocate resources and manpower to sustainability initiatives and collaborate with partners who share similar goals is very important”. Prasad also stressed the significance of compliance laws and regulations in driving sustainability efforts within organisations.
In response to a question from the audience about the return on investment (ROI) in sustainability initiatives, Prasad acknowledged that not all aspects of sustainability can be objectively measured from day one. He suggested that measurability improves over time as initiatives become more streamlined and measurable. He emphasised that organisations should not be discouraged by the initial lack of measurable ROI and should focus on the long-term impact of sustainability efforts.
The discussion concluded with a call for a mindset change among individuals and organisations, where conscious choices are made to prioritize sustainability, even if it comes at a slightly higher cost. Prasad emphasised the importance of creating an environment where future generations can live happily and responsibly.
The conversation highlighted the evolving role of sustainability in business strategies and the need for a cultural shift towards sustainability practices at all levels of society.