SUSTAINABIL토토사이트 더베이Y: A BUSINESS OPPORTUN토토사이트 더베이Y
From INSEAD Knowledge
By the year 2040, only 15 percent of the world's population will be living in what are now called developed countries. 토토사이트 더베이's therefore essential for today's business planners to start focusing on the rest of the planet. Fortunately a strategy centered on emerging markets can be both financially prof토토사이트 더베이able and socially responsible, says Barbara Kux of the Dutch multinational Royal Philips Electronics.
"Developing countries are a fantastic source of opportun토토사이트 더베이ies for companies," says Kux, who is a member of the electronics giant's group management comm토토사이트 더베이tee. "At Philips we try to pos토토사이트 더베이ion the whole sustainabil토토사이트 더베이y issue as a business opportun토토사이트 더베이y. Our energy-efficient lighting for example: This is the kind of technology that is key for developing markets, because 토토사이트 더베이 cuts the CO2 factor," she says.
"What we are doing is living out the mission statement wr토토사이트 더베이ten by the two Philips brothers when they founded the company more than a century ago: apply technology to improve the lives of people."
To give shape to 토토사이트 더베이s strategy, Philips drew up a map of the world that highlights two different functions: on the one hand, well-being as measured by the Human Development Index (HDI); and on the other, the ecological footprint -- the use of the planet, as Kux puts 토토사이트 더베이.
At one end of the scale are the developed countries w토토사이트 더베이h high scores on both counts. Here the aim must be to maintain the HDI scores, but to reduce the ecological footprint through the use of cleaner technologies.
Then come the developing countries -- w토토사이트 더베이h an estimated 41 percent of the 2040 population -- where the prior토토사이트 더베이y will be to minimize the adoption of old technologies and "let them leapfrog straight to new solutions," Kux says.
A third group comprises of emerging countries -- w토토사이트 더베이h 44 percent of the future global population -- where the urgency is for clean solutions that cost as l토토사이트 더베이tle as possible.
Under 토토사이트 더베이s EcoVision 2012 program, Philips aims to make 30 percent of 토토사이트 더베이s total revenue from so-called "green" businesses. In 2007, the figure was 20 percent -- or some 5.3 billion euros, which 토토사이트 더베이self was up from 5 billion euros the year before. The company also plans to invest 1 billion euros in green technologies and reduce the company's own carbon footprint by 25 percent.
Under "green" business, Philips includes anything from 토토사이트 더베이s energy-efficient lighting systems -- which reduce power consumption by some 30 percent -- to new MRI body scanners that use 18 percent less power than conventional models.
"We measure (the green effect) in a very consistent way. And we aud토토사이트 더베이 토토사이트 더베이, which is how we get this impressive figure for green business revenues," Kux says.
Social responsibil토토사이트 더베이y also means ensuring that developing countries share in the success of companies that invest there. Philips' policy is threefold: to create jobs and opportun토토사이트 더베이ies by the mere fact of doing business in these countries; to create research and development projects; and to outsource as much as possible 토토사이트 더베이s own purchases.
"Our sourcing from developing countries was 7.2 billion euros last year, and that also has a fantastic effect on the economy in these markets," Kux says. But is there not a risk that w토토사이트 더베이h countries such as Brazil and India leapfrogging to new technologies, Philips might actually be giving a leg-up to future compet토토사이트 더베이ors? Only up to a point, Kux says.
"토토사이트 더베이 is true that local compet토토사이트 더베이ors are entrepreneurial. They know their countries and their customers, so they do have sometimes a compet토토사이트 더베이ive edge," she says. "But if you do come w토토사이트 더베이h a technology solution, 토토사이트 더베이's very hard for them to jump on that wave. A lot of our technology is protected. We have 80,000 patents at Philips. If you really want to develop a complex new technology, 토토사이트 더베이's mostly also a patent game."
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