Business Risks and Sustainability Management: Principles and Practice in SMEsInquire Now
SMEs might think that sustainability is only relevant to large companies—that for a small business, the administrative and financial costs outweigh the benefits. However the aim of an average entrepreneur (SMEs, owners in particular) extends beyond profit-making. Business growth and expansion constitute key objectives of SMEs. In a study conducted by Idemobi (2012), it was revealed that over 70% of SMEs die within five years of establishment. This means that less than 30% of SMEs can survive various business challenges and risks.
In many ways, SMEs are the original sustainable businesses. Close links to customers, employees and suppliers, and the integration of business with family life mean that SMEs are often better than large firms at understanding communities and the natural environment. Sustainability and the legacy of the firm are a part of SMEs’ day-to-day activities – even if they don’t call it “sustainability.” The concept of sustainability as used here is defined as the continuing commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of the workforce, their families, the local and global community as well as future generations (Crals and Vereeck, 2004).
SMEs that integrate sustainability into their core business strategy can benefit from lower costs, reduced risk, access to funds, competition and new opportunities. This course is therefore designed to help participants deepen and strengthen their sustainability efforts, by introducing new research on how sustainability principles and practice can inform goals and actions in small and medium-sized entities (SMEs). The course examines SMEs risks and suggests strategies that could be used in their management in order to enhance their sustainability. It emphasizes sustainability in all its dimensions, including all “three E’s” of environment, economics, and equity while also outlining the prerequisites of sustainability to include the three P’s of People, Planet and Profit (Crals and Vereek, 2004).
- Describing and Defining Sustainability in line with Global Best Practices
- Analysing SME Business Risks
- Making a Business Case for Sustainability – Role of SMEs in Economic
- Understanding the Environmental, Social, and Economic drivers of
SustainabilityChallenges in Africa
- Knowledge of Effective SME Risk Management Programme
- Formulating Effective Sustainability Programmes
- Success Factors to Sustainable Entrepreneurship
- Appraising and Evaluating New Sustainability Practices and Programmes
Who Should Attend
- Mid to higher management staff in SMEs
Defining Sustainability - An SME approach
Role of SMEs in Economic Development
Business Risks Facing SMEs
SMEs Risks Management
Business Perspectives and Future Trends
Also available on one-and-one coaching and can be custom designed and delivered in-house.
Sustainability and Corporate Social Responsibility (CSR) Consultants
We offer consultation and advisory services on Corporate Social Responsibility and business sustainability including field assessments and can address challenges within supply chain management. We serve as your one stop shop for company risk assessment, product information and responsible sourcing programmes. For the public sector, we provide you with in-depth information about any sector under review, an organisation/enterprise or a quality project enabling you make informed decisions and policies.
CSR Trainings and Workshops
We are a leading CSR Sustainability training provider in West Africa. In partnership with Sustainability and CSR Insights © UK, and Arche Advisors USA, we provide a range of globally accredited CSR practitioner training courses for all levels of CSR professionals in Africa.