What are Values and Drivers?

Values

Drivers

Strategic Drivers

○Scope:üEncompass the broader, long-term factors that shape the overall direction and success of the organisation. They are concerned with the organisation's positioning in the market and achieving its overarching goals and objectives.○Time Horizon:üTypically long-term, often spanning several years. Organisations consider these drivers when formulating their strategic plans, which guide decision-making at the highest levels.○Examples:üMarket dynamics, technological trends, regulatory changes, competitive forces, global economic conditions, and shifts in consumer behaviour are examples of strategic drivers.○Decision-Making Level:üInfluence decisions made at the executive and board levels. Leaders use strategic drivers to set the overall direction and make high-level choices that affect the entire organisation.

Operational Drivers

○Scope:üFocused on the day-to-day activities and processes that ensure the organisation's effective functioning. They are concerned with executing strategies and achieving short to medium-term operational goals.○Time Horizon:üThe time horizon for operational drivers is relatively short-term, often focusing on the current fiscal year or operational cycle. They involve the immediate steps and actions to implement the broader strategic plan.○Examples:üOperational efficiency, workforce productivity, supply chain management, quality control, and customer service are operational drivers. These factors directly impact the organisation's day-to-day operations.○Decision-Making Level:üInfluence decisions made at middle management and operational levels. Managers and frontline staff use operational drivers to implement strategies, improve efficiency, and address immediate challenges.○

Flexibility in adapting operational drivers to changing circumstances while staying true to their strategic direction allows for agile responses to market shifts and emerging opportunities.

Environmental

Environmental factors involve considering an organisation's overall impact on the environment and the potential risks and opportunities it faces because of environmental issues, such as climate change and measures to protect natural resources.

○Energy consumption and efficiency.○Carbon footprint, including greenhouse gas emissions.○Waste management.○Air and water pollution.○Biodiversity loss.○Deforestation.○Natural resource depletion.○

Social

Social factors address how a company treats different groups of people -- employees, suppliers, customers, community members and more.

○Fair pay for employees, including a living wage.○Diversity, equity and inclusion programs.○Employee experience and engagement.○Workplace health and safety.○Data protection and privacy policies.○Fair treatment of customers and suppliers.○Customer satisfaction levels.○Community relations, including the organisation's connection to and impact on the local communities in which it operates.○Funding of projects or institutions that help poor and underserved communities.○Support for human rights and labour standards.

Governance

Governance factors examine how a company polices itself, focusing on internal controls and practices to maintain compliance with regulations, industry best practices and corporate policies.

○Company leadership and management.○Board composition, including its diversity and structure.○Executive compensation policies.○Financial transparency and business integrity.○Regulatory compliance and risk management initiatives.○Ethical business practices.○Rules on corruption, bribery, conflicts of interest, political donations and lobbying.○Whistle-blower programs.○

Strategic drivers

Enhanced Data Collection and Analysis Technology empowers organisations to gather vast amounts of data on ESG factors, enabling more comprehensive assessments. Advanced data analytics tools and artificial intelligence algorithms can process this data, extracting valuable insights and identifying trends that help businesses make informed decisions. Improved Reporting and Transparency Technology enables companies to streamline their ESG reporting processes and deliver comprehensive and standardised reports. Organisations can communicate their ESG efforts through digital platforms, disclose relevant data, and showcase their commitment to sustainability. ESG Integration in Investment Decision-Making Technology-driven platforms that facilitate impact investing are also emerging, connecting investors with opportunities that generate positive social and environmental outcomes alongside financial returns. Innovative Solutions for Sustainable Practices Technological innovations reduce environmental impacts, create new business opportunities, drive economic growth, and contribute to a more sustainable future. Stakeholder Engagement and Collaboration Digital platforms and social media enable companies to interact with customers, employees, and communities, fostering dialogue and building stronger relationships.

Specific Technology

○AI IntegrationüExplore AI applications for personalised learning and streamlined processes.​○Advanced ManufacturingüAdopt technologies like 3D printing and robotics for vocational training and industry relevance.​○Quantum ComputingüMonitor developments for potential applications in research and education.​○Big Data AnalyticsüLeverage data insights for student performance and strategic decision-making.​○Blockchain for SecurityüExplore blockchain for secure record-keeping and credential verification.​○Augmented Reality (AR)üEmbracing augmented reality technologies can revolutionise the learning experience by providing immersive and interactive content.○CybersecurityüSafeguarding digital assets, systems, and infrastructure from cyber threats, encompassing a comprehensive framework that integrates risk management, technological innovation, and organisational resilience.

Operational drivers

Updates/new features to 3rd party software Technical Expertise and Innovation Client Relationship Management Project Management and Delivery Operational Efficiency and Scalability Marketing and Business Development, including conferences Talent Acquisition and Retention Quality Assurance and Compliance

Financial Management and Budgeting Risk Management and Cybersecurity Vendor and Partner Management Knowledge Management and Training Resource Allocation and Utilization Communication and Collaboration Customer Service and Support Continuous Improvement and Adaptability