Page 96 - ABFRL SUSTAINABILITY REPORT 2016-17
P. 96
ReDesigning
FUTURE
B U S I N E S S PROOFING
PREPPING FOR BUILDING STRATEGIES
TOMORROW, TODAY
Post mapping our high impact factors according to the
We believe the future is now. Integrating sustainability
certainty of their e ects, four main scenarios were
into our business strategies today, is hence constitutive
developed. These are critical drivers of change for the
of our readiness for tomorrow. Scanning the industry
apparel and retail business:
horizons for mega trends and simulating potential
scenarios, enables the leaders in the organisation to
have a long-term vision, ensuring that sustainable ADOPT TO ADAPT
business is placed at the heart of our core business
strategy. Combining adherence to global
standards with domestic innovation
To unveil the risks and opportunities and to strengthen the place of Indian
consequentially prioritise them to facilitate informed business across international
near-term decision making, we are collaborating with markets.
the 'Forum for the Future', an independent non-pro t
that works globally with businesses, government and INDIA REALLY SHINING
other organisations, assisting them in their
Aligning our future growth strategies
sustainability vision. Key representatives from our
to the country's vision of reviving
management, gathered in a workshop organised by
traditional forms of agriculture and
Forum for the Future in 2015 to draft a roadmap that
trade. As India gears to achieve its
would 'future proof' our business strategy.
ambitious target for renewable
The ultimate goal is to develop a strategy that is energy generation of 175 GW by
robust, stress-tested, well-equipped to respond to 2022, we at ABFRL, are partnering
changing scenarios and use innovative approaches the cause by restructuring our
to take advantage of new opportunities. energy mix to include more solar
power and other forms of non-
conventional energy sources.
FACTOR PRIORITISATION VASUDEVA KUTUMBAKAM
Vasudeva Kutumbakam, taken from
Post our comprehensive stakeholder engagement Sanskrit, refers to 'inclusive growth',
exercises, which include expert interviews and in- and embracing this idea has led the
depth research to consolidate probable trends, we Indian Government to open up its
identify several 'future factors'. They are essentially borders for commerce while also
discrete issues that will have a signi cant impact over bene tting from the Global Fund for
the broad operating environment of the retail and Sustainable Development. The
apparel industry in the coming years. preferential trade treatment and
ease of technology transfer, has
After careful evaluation during the reporting year, we
triggered both business and
identi ed signi cant areas having the highest possible
innovation for the Indian industries,
impacts. These include shifting demographics in India,
including ours.
growth of online business and e-commerce, rapid
urbanisation and logistics infrastructure in the
country, etc. HUM INDIA WALE
India has accepted a policy of low-
cost manufacturing, export-led
growth, and coal-driven
EXPLORING UNCERTAINTY electri cation to battle the
pressures of population growth,
Once we identi ed the high impact factors, the next step resource scarcity, uneven economic
was to explore the possible outcomes of each of these parity and climate change. With
factors and its uncertainty. We conducted an exercise to such an impetus provided by the
ascertain how these high priority factors will play out in the Government, businesses are trying
coming years. Based on the importance of their impacts to leverage their own resources to
and the level of certainty of occurrence, the factors were address some of the challenges
classi ed further to facilitate e ective future planning. around food, energy and water.
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