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Is Modern Business Capable of Implementing Successful Long-Term Strategies?
6 June 2019
Social responsibility has a bearing on sustainable business growth

I think that corporate social responsibility has become, certainly in corporate America, to a large extent recognized not as a cost, but as an asset which supports and promotes the value of the brand name, and that producing socially responsible products or processes actually helps the company — Andrew Somers, President, A.B.Somers & Associates; President, American Chamber of Commerce in Russia (2000 - 2013).

A company in five years from today that is not running on sustainable ideas is not going to be in business — Patrik Antoni, Chairman of the Board of Directors, Ingka Group Russia.

If you are in the commodity business, management’s ability (i.e. the board, the executive management, the stakeholders) to make long-term investment based on customer needs that drive innovation is what actually creates value in the long-run for shareholders, rather than I would say mere technical adjustments around cost, location of production, delivery cycles — Xavier Rolet, Chief Executive Officer, CQS; Chairman of the Board of Directors, PhosAgro; Former Chief Executive Officer, London Stock Exchange Group Plc (2009 – 2017) .

IKEA has always been very good at using our raw material and making things low-cost focusing on using all parts of a material, and we have tried to save water and energy and so on — Patrik Antoni, Chairman of the Board of Directors, Ingka Group Russia.

Betting on modern technology is the key to competitiveness

Today, the Russian banking sector is perhaps the most advanced one on the market. It is certainly one of the most advanced in the world. We are around 10 years ahead of Europe, and around 20 years ahead of America. Unfortunately, this is not the case in all industries, but it is in banking — Vladimir Verkhoshinskiy, Chief Executive Officer, Member of the Board of Directors, Alfa-Bank .

We are making substantial inroads in developing Big Data analytics, not only to analyse and improve our services, but also to sell it as a service. Most Russian banks at the forefront today already use our services, and this is also where we are ahead of most European countries – in banking, in telecoms. Not all telecoms companies by any means are successfully selling analytics — Vasyl Latsanych, Chief Executive Officer, VimpelCom .

The growth in the use of resources

We are reaching the point where a person will use 1 GB per day. Is that good or bad? It is the way it is, and it is something we are putting an incredible amount of money in to support — Vasyl Latsanych, Chief Executive Officer, VimpelCom .

An unstable business environment

The raw materials business has its own dilemmas. When a mine is built with a good business model that looks 30 years into the future, it often raises doubt in society today. It appears as though in today’s world, the production of electric vehicles with a less robust business model is more attractive — Vladimir Gerasimov, First Deputy General Director, Executive Director, Interfax Information Services Group .

Business is hostage to politics, and in many countries, politics is driven by electoral cycles. It focuses on things like GDP over an incredibly short period, which partly affects business, and politics, and the laws which we adopt — Igor Lotakov, Country Managing Partner, PwC Russia.

Small businesses are finding it difficult to enter the market

Most people in rural areas could start their own businesses and make excellent products for all of us living in cities, but the problem is entering the market and managing resources — Guzel Sanzhapova, Founder, Cocco Bello.

An objective assessment of the prospects and risks

Let’s not forget, first and foremost, the concept of a risk adjusted competitive allocation of capital — Xavier Rolet, Chief Executive Officer, CQS; Chairman of the Board of Directors, PhosAgro; Former Chief Executive Officer, London Stock Exchange Group Plc (2009 – 2017) .

The important thing is to put people thinking about the future from the present or thinking about the present from the future – the contents or scenarios are totally different — Tatsuyoshi Saijo, Professor, Center for Environmental Innovation Design for Sustainability, Osaka University; Program Director, Research Institute for Humanity and Nature.

When you start seeing yourself as a tech organization, many things become smoother. <...> It becomes easier to invest in innovation — David Rafalovsky, Executive Vice President, Head of Technology Block, Sberbank; Chief Technology Officer, Sberbank Group.

Following the principles of responsible development for your business

We discuss corporate social responsibility a great deal. It means being honest, at least to yourself, to your shareholders, to your customers, and to your employees — Yury Isaev, General Director, State Corporation Deposit Insurance Agency.

The material was prepared by the Russian news agency TASS