Interface and the 4 guiding principles of sustainable business model innovation (10am seminar) by Li Shi Tan

Principle 1: Sustainability orientation

lsjacetan — 2024-02-15 19:04:28 UTC

Think about the basic ideas of sustainability, principles and practical plans which the company refer to

Principle 2: Extended value chain

lsjacetan — 2024-02-15 19:04:28 UTC

Think about how they aim to generate value for both market and non-market actors in monetary and non-monetary terms

Principle 3: Systemic thinking

lsjacetan — 2024-02-15 19:04:28 UTC

Think about the holistic approaches that the managers took; how they try to integrate external resources and knowledge into internal resources

Principle 4: stakeholder integration

lsjacetan — 2024-02-15 19:04:28 UTC

Think about how the company considers the interests and needs of its stakeholders

2024-02-16 10:31:30 UTC

Employees - encouraged to think of how to reduce waste (incentivised through bonus)

Leadership - CEO Ray Anderson was committed to the cause and inspired the company to follow the vision (generating shareholder value and also value to the enviroment)

Investors/shareholders - Interface was included in some socially responsible portfolios, won contracts due to its reputation for sustainability, saved costs due to recycling and buying in bulk

Environment - reduced waste (recycling, ecoefficency, reduce non-renewable energy, pollution, etc)

2024-02-16 10:35:03 UTC

Group 4 - Stakeholder Integration

Primary stakeholders

Employees

creating an incentive program that ties in performance with rewards/bonuses

Shareholders

prioritising shareholder value
Undertaking projects after financial scrutiny
Interface has been included in socially responsible investment portfolios by different banks

Public/Customers

creating a sustainable business model that has positive impacts on society/environment

Sustainability Principles: Sustainability became strategic goal of interface after Anderson read Ecology of Commerce Practical Plan: QUEST incentive plan for employees to eliminate waste via bonuses

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2024-02-16 10:38:26 UTC

-Interface Inc pursued third-party certification of its management systems through the International Standard Organization (ISO).

-Establish a buy-recycled policy

2024-02-16 10:41:29 UTC

-Interface pursued third-party certification of its management systems through of its managment systems through the international standard organisation

-Establish a buy-recycled policy

2024-02-16 10:41:57 UTC

Interface pursued third-party certification of its management systems through of its managment systems through the international standard organisation

-Establish a buy-recycled policy