In today’s rapidly evolving business landscape, sustainability is not just a buzzword; it’s a defining principle that companies across industries must embrace. And while some companies are still talking more than doing, others recognize that to really succeed in the green transition, you need a comprehensive transformation of the entire organization.
“Undoubtedly, such shifts are no easy feats”, says Senior Manager at Navigio, Kari Marthinussen. “And this is where Navigio’s Full Potential Journey comes into play”.
The Nordic commitment to sustainability
The Nordics have a long-standing commitment to sustainable practices. Historically, Norway, Sweden and Finland have been leaders in harnessing renewable energy, such as hydropower and wind energy, providing a solid foundation for further advancements in the green sector.
Several trends are shaping the green transition in the Nordics, the growing popularity of electric mobility being one. As more people opt for electric vehicles, the demand for renewable energy sources to power the vehicles has surged. Furthermore, a growing chorus of voices from various segments of the market; consumers, investors, and the incoming younger workforce, is pushing all companies to take sustainability seriously. This means integrating sustainability principles into the very core of the value chain and business strategy.
“For all companies, sustainability is no longer a choice; it’s imperative”, says Henrik Segersvärd, Partner and Industry Lead at Navigio. He further delves into the topic, using a fictional crane manufacturing company as an example: “They might be tasked with reducing their carbon footprint to meet growing customer demands for sustainability. This might entail a fundamental change in their business strategy, switching to alternative materials or altering their work processes to reduce emissions”.
The Full Potential Journey: A four step collaborative partnership
Marthinussen describes Navigio’s full potential journey as a partnership. “When we partner with clients, our primary goal is to enable them to succeed in their transformational journey”, she explains and emphasizes the importance of aligning with market perspectives, especially for newcomers.
“The first step for any company is understanding the market”, Marthinussen continues. “Regardless of your location in new markets, questions arise: Who are you? What’s your strategy? How do you map the market, benchmark, and identify competitors? That’s where we come in to help”.
Segersvärd adds that “whether it’s about enhancing capabilities, especially in the context of the green transition, expanding into new markets, boosting profitability, or increasing sales, Navigio provides a tailor-made plan and follows our customers all the way to the finish line – and beyond”.
Step 1: Strategy and organization – Charting the path forward.
At the heart of any significant transformation lies a well-defined strategy. In outlining a strategic direction, Navigio will help assess existing capabilities, identify areas for growth and improvement, and predict the impact these changes will have on the organization.
“It’s about defining your company’s vision and how you fit into the evolving market. When doing any type of shift, the first thing you need to consider is what capabilities and competencies are crucial for your organization to succeed”, says Marthinussen.
Segersvärd illustrates this with an example: “Imagine a company in the forest industry. They traditionally produce pulp and board, but they are also one of the country’s largest landowners. So, they want to shift from forestry to establishing windmill parks to produce renewable energy. Such a transformation requires a fundamental shift in the way they operate. Our role here would be to define critical organizational capabilities and implement an organizational structure that will support the transformation.
“Furthermore, your organization needs to be aligned with your strategy,” Marthinussen explains. She highlights the importance of identifying the gaps and bridging them effectively. ” Implementing an organizational structure that will close the gap between your current organization and your goals is a critical step,” she says.
Step 2: Executive search – Forming the right team
A green transition will create a need for fresh talent. New capabilities to be built require new roles and competence to be attracted and recruited. Traditional industrial companies may shift how they view themselves, for example to perceive themselves as a tech company rather than an industrial.
“The green transition is closely tied to digitalization and companies are embracing technology and innovation as key components of their operations, creating the need for competence beyond what the company currently has”, says Segersvärd. He adds that it’s here that Navigio plays a pivotal role in helping companies identify the new capabilities and thereby potential candidates. This involves not only finding external candidates but also assessing and identifying gaps in the existing talent pool.
Step 3: Leadership Services – Developing sustainable leadership
Having the right leaders is vital, but it’s equally essential to ensure they have the necessary skills and mindset to lead the organization through a big change – in this instance, toward its green objectives.
“Imagine for example a rapidly growing startup entering a phase where they need to mature into a scalable, efficient business model. We will help them navigate the transformation by recruiting, developing and coaching efficient leadership teams”, says Segersvärd.
Marthinussen connects this back to the very first step: “Leadership services is about equipping leaders to drive the actual implementation of the strategy we started out with. The whole point is to empower them to understand their roles in the business and the journey ahead. It’s about holding them accountable and helping them prioritize effectively”.
Step 4: Performance management – Navigating the green transition
Once the strategy is set, the right leaders are in place, and the leaders are equipped, the focus shifts to making the change stick and setting the governance.
“Performance management,” Marthinussen continued, “is about ensuring that your strategy is not just a document, but a practical tool for your daily operations.” She emphasizes the need for a strategy that is clear and actionable for leaders at all levels of the organization.
From talk to action
In essence, Segersvärd says, “Navigio’s Full Potential Journey works as a comprehensive roadmap that adapts to each company’s needs as they take on any kind of transformation”.
Marthinussen concludes: “Ultimately, our goal is to guide organizations through each stage of their transformation. In this case, we’re helping companies ensure that the promise of sustainability becomes a reality, moving away from talking to doing”.