Interface and the 4 guiding principles of sustainable business model innovation (12pm seminar) by Li Shi Tan https://padlet.com/lsjacetan/h7iugszwpkj5gr3g en-us 2024-02-15 19:07:36 UTC 2024-02-16 12:49:58 UTC hello@padlet.com Principle 1: Sustainability orientation lsjacetan https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885179958 Think about the basic ideas of sustainability, principles and practical plans which the company refer to

]]> 2024-02-15 19:07:36 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885179958 Principle 2: Extended value chain lsjacetan https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885179959 Think about how they aim to generate value for both market and non-market actors in monetary and non-monetary terms

]]> 2024-02-15 19:07:36 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885179959 Principle 3: Systemic thinking lsjacetan https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885179960 Think about the holistic approaches that the managers took; how they try to integrate external resources and knowledge into internal resources

]]> 2024-02-15 19:07:36 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885179960 Principle 4: stakeholder integration lsjacetan https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885179961 Think about how the company considers the interests and needs of its stakeholders

]]> 2024-02-15 19:07:36 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885179961 Innovation growth program https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885951551 Encourage employees to embrace the challenge of change, to take risks and supporting coworkers.

]]> 2024-02-16 12:30:22 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885951551 https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885958622 • Becoming the first sustainable manufacturing site in the world

• Taking the lead in sustainability to gain competitive advantage

• Waste elimination efforts - physical materials, administration, energy, non-value adding activities

• QUEST - willing to invest in training and incentives, programmes to implement sustainability in all business functions

• Long-term thinking

• First to follow The Natural Step principles in US

• Awareness of the impacts of businesses on environmental and social systems

]]> 2024-02-16 12:39:27 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885958622 Principle 2 https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885958890 Market Actors:

  1. Consumers

- Added value of environmental awareness

- Eco-friendly choice

  1. Manufacturer and shareholders

- improved costs and productivity

Non-Market Actors:

  1. Environmental Organizations

- Improved eco-efficiency

- Reduced waste and energy consumption

- Reduced emission

  1. Employees

- Increased bonus and morale from the QUEST program

]]> 2024-02-16 12:39:47 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885958890 QUEST Incentive plan https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885959546 The plan aim to eliminate all forms of waste in the company. The results shown improved productivity, cost reduction, improved teamwork and increased employee’s motivation and commitment. Additionally, managers were more knowledgeable about sustainability since QUEST programme was launched.

]]> 2024-02-16 12:40:21 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885959546 Quest Incentive plan https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885960098 2024-02-16 12:41:13 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885960098 Principle 3: EcoSense bonus https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885962154 Managers realised it was difficult to meet the new sustainability goals although the company was performing well so the mangers allowed employees to earn a proportion of the QUEST portion in a bonus as the mangers thought “a policy is only a policy until someone’s pay depends upon it”

]]> 2024-02-16 12:43:44 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885962154 https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885963300 Employees:

-        Rewarded their employees by incentivising sustainability practices

-        Did this in a way that was natural

-        It created a team oriented culture supportive of continuous change and improvement

]]> 2024-02-16 12:45:17 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885963300 https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885963873 Investors

-        Implementing sustainability was a risk but Interface were thorough in their processes and created a large opportunity for investors.

]]> 2024-02-16 12:46:05 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885963873 https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885964500 Customers

-        Cost of sustainability is not passed on to them

-        Piece of mind knowing customers are purchasing in a sustainable

]]> 2024-02-16 12:46:52 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885964500 https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885964901 Suppliers

-        New sustainability practices opened up opportunities for new suppliers, specifically bulk suppliers to work with Interface. E.g. the article mentioned switching to bulk suppliers to reduce waste.

]]> 2024-02-16 12:47:30 UTC https://padlet.com/lsjacetan/h7iugszwpkj5gr3g/wish/2885964901