Technologies can help businesses succeed where people have failed: study

LAHORE: “People around the world are demanding more progress on sustainability and social efforts and are looking to businesses to step up”.

This was revealed in a new study by Oracle and Pamela Rucker, CIO Advisor and Instructor for Harvard Professional Development. The “No Planet B” study of more than 11,000 consumers and business leaders across 15 countries found that people are fed up with the lack of progress society is making towards sustainability and social initiatives, want businesses to turn talk into action, and believe technology can help businesses succeed where people have failed.

As per report, about 95 percent of people believe sustainability and social factors are more important than ever and 81 percent said the events over the past two years have caused them to change their actions.

About 94 percent respondents believe society has not made enough progress. About 40 percent attribute the lack of progress to people being too busy with other priorities, 43 percent believe it is the result of more emphasis on short-term profits over long-term benefits, and 37 percent believe people are too lazy or selfish to help save the planet.

About 50 percent believe businesses can make more meaningful change on sustainability and social factors than individuals or governments alone. 75 percent are frustrated and fed up with the lack of progress by businesses to-date, and 91 percent believe it’s not enough for businesses to say they’re prioritizing Environmental, Social, and Governance (ESG) – they need to see action and proof.

“The events of the past two years have put sustainability and social initiatives under the microscope and people are demanding material change. While there are challenges to tackling these issues, businesses have an immense opportunity to change the world for the better”, said Pamela Rucker, CIO Advisor and Instructor for Harvard Professional Development.

“The results showed that people are more likely to do business with and work for organizations that act responsibly toward our society and the environment. This is an opportune moment. While thinking has evolved, technology has as well, and it can play a key role in overcoming many of the obstacles that have held progress back”, Pamela said.

Copyright Business Recorder, 2022