Professor McPhail’s keynote address, grounded in both theory and real-world examples, underscored the urgency of redefining business success in an era where societal, environmental, and economic forces are increasingly interlinked. He immediately captured the audience's attention by posing a fundamental question: Why must we balance profit, social impact, and environmental value? His thought-provoking introduction emphasised that the expectations placed on businesses are shifting dramatically, with the public and investors seeking a more holistic approach to success.
Prof. Ken McPhail,
Head of Alliance Manchester Business School.
Throughout the session, Professor McPhail presented a compelling case for why businesses must adapt to survive and thrive. He highlighted the alarming environmental challenges, such as unprecedented rates of biodiversity loss, and made a clear connection to economic opportunities, noting that industries like the cement market stand to gain significantly from sustainable transitions.
His insights went beyond surface-level observations, calling for a radical reimagining of how businesses operate. He argued that while corporations are often seen as contributors to global challenges, they are also uniquely positioned to drive solutions through financial resources, regulatory influence, and innovative capabilities. Yet, he cautioned that they cannot act alone—collaboration between corporations, governments, and societies is essential for true progress.
One of the most impactful aspects of Professor McPhail’s presentation was his critique of conventional approaches to sustainability, including CSR (Corporate Social Responsibility) and ESG (Environmental, Social, Governance). He pushed the audience to think deeper, advocating for what he called "Third Wave CSR," which aims to fundamentally align corporate actions with societal needs. This was not just about ticking boxes or managing risks—it was about integrating sustainability into the very DNA of business strategy.
Graphene Engineering Innovation Centre (GEIC) in Manchester
The example of Graphene Innovations Manchester (GIM) resonated strongly with the audience. With innovations like impermeable pressure vessels for clean energy and CO2-reducing concrete, GIM showcased how cutting-edge technology can drive both environmental benefits and economic growth, making sustainability a practical and profitable choice.
Panel Discussion
The event's momentum continued with a panel discussion, moderated by Ms. Sherry Fu, Founding Director of the UoM China Centre. The diverse industry leaders brought a range of perspectives and experiences to the table, offering concrete examples of how sustainability can be embedded in business practices: Stuart Dunn, Executive Director at BritCham Shanghai, shared his observations on the latest trends in sustainable innovation, emphasising the strategic advantage that businesses can gain by embracing these developments. Professor Ken McPhail offered a deeper dive into the qualities needed for leaders to foster a culture of sustainable innovation, stressing the importance of education and leadership development in this space. Aileen Wei, a Manchester Global MBA alumna and Co-Founder of Safone, shared a candid account of her entrepreneurial journey, particularly the challenges she faced in sustaining a zero-waste brand during the COVID-19 pandemic, and how she integrated the concept of sustainable development into the design, manufacturing, and delivery of products. Grace Shen, another Manchester Global MBA Alumna and Independent Management Consultant, provided practical advice on overcoming the obstacles companies often encounter when aiming for sustainable innovation.
The session was more than a lecture—it was a catalyst for action, reinforcing The University of Manchester’s dedication to nurturing leaders who can balance profit with social and environmental responsibilities. Attendees left motivated, equipped with fresh insights to drive sustainable growth in their own fields. By exploring the intersections of business and sustainability, the session with Professor McPhail was a reminder that true innovation lies in addressing the grand challenges of our time—together.
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