News & nOTEs

… that affect competitiveness, megatrends,

corporate sustainability, shifts in industry

The IPCC report which was released on 9 August 2021 spelt out in no uncertain circumstances, the Dire predicament that we are facing as a global village and as global citizens, specifically projecting:-

  • Global warming level of 1.50C are expected to affect all regions, increasing the propensity of
  • Intensifying water cycle – more intense rainfall associated flooding, and more intense drought
  • Affect rainfall patterns – in high latitudes, precipitation is likely to increase, while a decrease is likely over subtropical areas
  • Coastal areas will see continued sea level rise in this century – increased frequency in coastal flooding in low-lying areas and coastal erosion. Extreme sea level events which occur only in a century could happen every year
  • Increase in permafrost thawing and loss of seasonal snow cover, melting of glaciers and ice sheets, and loss of summer Arctic sea ice
  • Changes to the ocean with more frequent marine heatwaves, ocean acidification, reduced oxygen levels – affects ocean ecosystems and the people that rely on them
  • For cities, increased heat, flooding from heavy precipitation events and sea level rise in coastal cities

The only saving grace is that our actions to reduce and/ or eliminate carbon dioxide i.e. main driver of climate change still have the potential to determine the future course of climate within this century.   

Reflection: Underlying this is that we need to reach net zero by mid 21st century to reverse increasing temperatures due to greenhouses gases.  Hence, as corporate citizens, what are our local and international customers’ expectations of climate changes?  How will aspects of the environment that impacts society and of governance(ESG) impact growth and profits?  Is our corporate model sustainable? 

#climatechange, #1.50C, #corporatesustainability, #ESG, #valuechain, #reducecarbonfootprint, #globalwarming, #GHG, #netzero

Climate change widespread, rapid, and intensifying – IPCC

Foo Wai Leng is a strategy consultant who helps companies to future think and see what’s next.  Her focus is in strategy, supply chain and organisational behaviour.   Wai Leng helps leaders to reflect and restrategise by leveraging on future trends to gain greater competitiveness.  Click here to learn more.

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CORPORATE SUSTAINABILITY

CUSTOMERS

Covid-19 has compounded consumers views that sustainability and in particular, the environment ARE key issues focused on moving forward.  Gist of IBM's survey shows the power and expectations of consumers that will determine the future success of organisations in the following ways:-

  • willing to pay more for environmentally friendly products and services
  • change their purchasing behavior to help reduce negative impact on environment
  • choose more environmentally friendly mode of transportation even if it costs more
  • affect personal investment decisions

The talent pool of organisations will be affected in the way that employees

  • are willing to accept a lower salary to work at a sustainability-conscious employer
  • apply for and accept jobs with environmentally and socially responsible organizations

The survey underscores consumers and investors concerns about our global climate crisis.  

Reflection: Tell-tale signs that organisations need to incorporate if not embrace corporate sustainability with the focus on the environment now, to remain relevant in the eyes of consumers.

https://newsroom.ibm.com/2021-04-22-IBM-Study-COVID-19-Pandemic-Impacted-9-in-10-Surveyed-Consumers-Views-on-Sustainability

This IPCC report which was released on 9 August 2021 spelt out in no uncertain circumstances, the Dire predicament that we are facing as a global village, specifically projecting:-

  • Global warming level of 1.50C are expected to affect all regions, increasing the propensity of
  • Intensifying water cycle – more intense rainfall associated flooding, and more intense drought
  • Affect rainfall patterns – in high latitudes, precipitation is likely to increase, while a decrease is likely over subtropical areas
  • Coastal areas will see continued sea level rise in this century – increased frequency in coastal flooding in low-lying areas and coastal erosion. Extreme sea level events which occur only in a century could happen every year
  • Increase in permafrost thawing and loss of seasonal snow cover, melting of glaciers and ice sheets, and loss of summer Arctic sea ice
  • Changes to the ocean with more frequent marine heatwaves, ocean acidification, reduced oxygen levels – affects ocean ecosystems and the people that rely on them
  • For cities, increased heat, flooding from heavy precipitation events and sea level rise in coastal cities

The only saving grace is that our actions to reduce and/ or eliminate carbon dioxide i.e. main driver of climate change still have the potential to determine the future course of climate.   

Reflection: Underlying this is that we need to reach net zero by mid 21st century to reverse increasing temperatures due to greenhouses gases.  Hence, as corporate citizens, what are our local and international customers’ expectations of climate changes?  How will aspects of the environment that impacts society and of governance(ESG) impact growth and profits?  Is our corporate model sustainable? 

#climatechange, #1.50C, #corporatesustainability, #ESG, #valuechain, #reducecarbonfootprint, #globalwarming, #GHG, #netzero

https://www.ipcc.ch/2021/08/09/ar6-wg1-20210809-pr/

In a retail and B2C situation, different strategies can be employed to engage current and potentially new customers during this pandemic, by making the most of product and service reviews and highlighting them on your social media account that is linked to your website.  Specific strategies for current customers and new prospects are discussed below.

With current customers, basic strategies include demonstrating your presence through effective communication, and to provide convenient and efficient services.  This tells customers that your brand is still standing and you are there to serve them, and you are responsive in their times of need.  Stickability strategies that can be employed include leveraging on social media, improving loyalty programmes and humanising digitalisation. 

To reach out to new prospects, you could get existing customers to refer you, and in the process reward them to draw further loyalty to your brand.  Referrals tend to have an edge because your prospect knows your connection is made through a familiar party.  In tandem you could provide a sample or trial purchase of your product to them.  This provides a gauge for the fit of your product and if any remedial actions could be further taken to gain a favourable impression.  With cold calls, email marketing is still an effective strategy, given your content is comprehensively succinct and eye catching.

Get in touch with old customers to offer discount codes or coupons to draw their attention again.  You will never know when there is a need for your product or service again.

Right now, your priority is to keep your existing customers engaged to stay with you and to actively reach out to new prospects, while the pandemic is running its course.  Therefore, it is important to develop greater visibility, traction, optimise processes to gain efficiency, openness and awareness for your product and service.

#B2C #retail #customerengagement #strategy #customercentricity #optimiseprocess #efficiency #visibility

https://www.customerservicemanager.com/how-to-maintain-strong-customer-engagement-during-covid-19/

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