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21 April 2024

Businesses need to think long-term, says study

By Joseph George


Billions of dirhams could be saved every year if companies adopted a long-term “sustainable” approach, says a new report.

Teleconferencing alone could save Dh1.7 billion around the world annually, according to A New Mindset for Corporate Sustainability. The study, by a group of international academics, was sponsored by Cisco and British Telecom.

Organisations that wish to grow profitably in the future must focus their efforts to benefit shareholders, society and the environment simultaneously, say the authors. Concentrating on any one of these areas at the expense of the other two may compromise a business’s long-term success.

“A focus on sustainability provides the best means to implement this triple-pronged strategy simultaneously, enabling organisations to innovate, differentiate themselves and succeed,” said Phil Smith, Senior Vice-President for Technology Marketing at Cisco.

The study focuses on how organisations in both developed and emerging markets have secured leading market positions through innovation and sustainability initiatives.

One of the authors, Professor Sarah Slaughter of the Massachusetts Institute of Technology, said: “The method by which this paper was produced gave all of us a unique opportunity to share views and collaborate in an entirely new way.

“Crucially, our ability to share experiences from around the globe enabled us to identify the importance of courageous, visionary leadership in achieving innovation through continued sustainability.”

The numbers


the saving to be made from global teleconferencing annually, according A New Mindset for Corporate Sustainability – a study sponsored by Cisco and British Telecom