Need for business transformation to give an edge to Life Cycle Management

While addressing the 4th edition of 'Indian Conference on Life Cycle Management' 2015, Additional Secretary and Adviser, Inter State Council Secretariat, Ministry of Home Affairs Ashok Pavadia said, "There is a need for rational transformation of business to realise the full potential of Life Cycle Management".

It is essential to encourage and propagate life cycle thinking to equip top management with the understanding in the long term. This would further allow business sustainability and positively impact the social, economic and environmental goals of an organization, added Ashok Pavadia.

Pavadia urged the proponents to underscore the social and economic impact on business more prominently. He added that environmental sustainability has been the focus area for long and now was the time to give equal importance to social and economic aspects of LCM.

Speaking about standards for LCM, Pavadia said that it would be beneficial if the corporates are given an opportunity to evolve their own standards across the board. He believes that the industry associations, government agencies and international organizations need to work for a desired outcome.

Jaco Cilliers, Country Director - India, in his presentation said that United Nations was entering a new framework of Sustainable Development Goals (SDGs) for the period 2016-2030.

For sustainable development to become a success, it was essential to maintain peace and harmony amongst people, prosperity, planet and partnerships.

Cilliers added that there was a need for courage to challenge the traditional framework. Also, focus should be on conservation of planet, compassion to work in harmony with stakeholders and changing the mindset and allow thinking differently.

In his presentation, SDGs provide a guiding post and agenda for implementation of sustainable consumption and production.

He said that the accent is shifting towards increased Implementation without losing any of the work done in the other areas. Further collaboration needs to be promoted particularly around technology assessment this is already somewhat done by most branches and units.