“Driving Sustainable Business Through Innovation”
Lylys Endarwati ~ MM FEB UI & Nino Eka Putra ~ Public Relations FEB UI
DEPOK – (18/12/2021) Master of Management at the Faculty of Economics and Business, University of Indonesia (MM FEB UI) together with the Alliance of Indonesian Master of Management Programmes (APMMI) held the International Seminar of Contemporary Research on Business and Management (ISCRBM) 2021 in a hybrid manner at the Century Park Senayan Hotel, with the theme “Driving Sustainable Business Through Innovation” on Saturday (18/12). Remarks from the Dean of FEB UI Teguh Dartanto, Ph.D., and a keynote speech by the Rector of Universitas Indonesia, Prof. Ari Kuncoro, Ph.D., opened the international seminar.
The 5th ISCRBM 2021 International Seminar was attended by more than 200 participants consisting of lecturers and students from various universities, both public and private. 5th ISCRBM 2021 invited two reliable speakers in their fields: a Professor at HTWG Konstanz, Prof. Frank Best, and Compliance Director of PT. Bank Rakyat Indonesia, Tbk Ahmad Solichin Lutfiyanto, with moderator Siska Noviaristanti, Ph.D., Head of MM Study Programme of Telkom University.
According to Prof Best, environmental degradation comes at a considerable cost. The inequalities created by the upper economic classes and the exploitation of resources have damaged the economy and ecology for decades. Market imperfections make sustainability challenging to achieve. Yet economic sustainability is what we need as a financial foundation for society and the environment. With economic sustainability, the sustainability of life is easier to achieve. Therefore, we need sustainable innovation solutions by redesigning linear production processes.
“Society must act and cooperate with the same goal in developing sustainable living. The framework starts with the government as a regulator in terms of laws, taxation, subsidies, certification, technical support, and public companies. Sustainability and innovation must be part of the company’s business philosophy by applying sustainability to corporate culture, position formation, incentive schemes, and out-of-the-box thinking that can trigger innovation,” said Prof Best at the end of his presentation.
Ahmad Solichin Lutfiyanto, the second speaker, presented on Driving Sustainable Business through Innovation Concept and Addressing Sustainability Issue. Ahmad Solichin explained that in running a business, one must consider sustainability for the environment, community, or society.
Sustainability in business generally addresses two main categories, namely, the effect of business on the environment and the effect of trade on society. When companies fail to assume responsibility, it leads to problems such as environmental degradation, inequality, and social injustice. Three pillars measure the value of a business enterprise’s success, including economic, ecological, and social.
According to Ahmad Solichin, BRI focuses on innovation and balancing optimization by integrating innovation into its transformation journey. The phygital (physical-digital) model combines a solid physical presence and digital innovation. The Ultra Micro Ecosystem (UMi) can integrate the three ultra micro giants to open up new sources of growth and is a new ultra micro innovation to create sustainability, such as expanding access for customers through network optimization, integrated digital sales platforms for joint acquisition, and utilizing big data analytics and artificial intelligence to optimize ultra micro databases.
“Sustainability will be achieved when all stakeholders work together towards the goal. In addition, all leaders must be innovative in promoting sustainability so that companies can deliver sustainability value more effectively. ESG is not a destination but a journey. Enjoy the journey and realize it for our next generation,” Ahmad Solichin concluded his session.