Get Strategic Projects Approved Like A Seasoned Executive

The Evolving Role of the CSO: Navigating Complexity in Strategic Decision-Making

In today's corporate landscape, the role of the Chief Sustainability Officer (CSO) has evolved significantly. What was once viewed as a mere cost center is now recognized as a vital strategic business partner. This transformation brings with it a set of complex decisions that affect various facets of the business. Consequently, the buying processes have become intricate, given that the projects selected for resource allocation impact a wider range of stakeholders.

Historically, the role of CSOs was undervalued, often lacking a definitive seat at the executive table. In fact, their roles were frequently encompassed within other departments such as HR, Legal, Investor Relations, Public Relations, or Marketing, especially in smaller and medium-sized enterprises. Sustainability was a minor component of their responsibilities, often overshadowed by other business concerns.

This scenario has dramatically changed. Today, CSOs hold prominent positions in executive leadership, dedicated solely to steering their companies towards a sustainable future. This shift echoes the famous line from Spiderman, “With great power comes great responsibility.” However, the increased responsibility also brings a heightened level of complexity, particularly because the decisions made by CSOs have far-reaching impacts across the organization.

For Sustainability Executives, acknowledging this complexity is crucial. Effective job performance hinges on the ability to gain approval for various projects, which can be categorized into three types:

1. Transformational Projects (Highly Strategic)
2. Operational Projects (Strategic)
3. Compliance Projects (Less Strategic)

In the past, sustainability initiatives were often relegated to compliance or smaller operational project types. However, with a seat at the executive table, CSOs now have the leverage to undertake highly strategic, transformational projects. In the short term, they might still need to focus on strategic operational projects before the company is ready for transformational change.

The key to success for a Sustainability Executive lies in the ability to secure approval (funding) for these projects. This requires a systematic approach centered on the development of a compelling Business Case.

Going from an Idea to a Business Case

You have just been pitched an idea for a project from one of your sustainability managers. You like the idea, but you have a million things going on. You have some questions about the viability of the idea, level of effort,? the timing, how this might impact other teams, potential return on investment, any costs associated with not doing it.

You commend them for a great idea, and ask a few of those questions. The response sounds like a lot of work. Especially with the upcoming Corporate Sustainability Report deadline that you have. Best to pick this up next quarter.?

“Let’s pick this up next quarter, great job!”?

Next quarter. Your employee brings up their idea again.?

“Yeah, I think I remember this... sorry been a crazy couple of weeks...”?

They have a bit less conviction this time when they talk about their idea, which is strange, because I remember them being so excited about it last time.

You talk about the idea for a bit, then ask some of your questions. Naturally you repeat some of the same questions that you asked last time you two discussed this project,?because it was so far back, and you have been crazy busy with other things on your plate.?

Yeah, I guess this is a good idea worth exploring further, you decide.? “Can you put together a business case, and send it over to me?”

A week goes by, and you get a business case sent over to your email from the employee who came to you about that idea that they had. Remember?

Oh yeah, that. You open the business case. It’s good, but not great. With everything else that you have going on, there is no way that you can focus on this until next year.?

“Looks great, thanks so much for putting this together! With all of the projects that we have in the pipe we won’t be able to take a look at this until next year unfortunately, but great job putting this together and will keep it on the back burner.”?

Sound familiar?

Something like this happens to an idea/project 90% of the time within a company.

It all falls on the business case and amount of effort that went into the development of that business case.?

Yet, there is not much training out there around how to create a stellar business case. Top Executives know how much time and energy goes into creating a business case, but that knowledge is oftentimes developed through years and years of ideas not panning out or failing to get leadership onboard for an idea that they have had in the past. Trial and error.?

Companies don’t do a good job managing expectations that a stellar business case takes a considerable amount of time, along with additional perspectives from every stakeholder impacted by the problem you are trying to solve for. A good sales person will facilitate this process, but how many good sales people are out there?

Bringing this back to the three project types we talked about earlier, Transformational, Operational and Compliance; understanding that most sustainability projects in past years have been lass strategic thus falling into operational or compliance project types, there is a clear skills gap that needs to be addressed when it comes to developing a business case that your CEO or CFO will approve. When you are battling against other Executives who have had a seat at the table for years, and have crafted countless highly strategic business cases in the past you and your team will need to bring your A Game if you want a shot at meeting your goals, or doing something truly transformational.

There is a direct correlation between how strategic a project is, and the level of complexity. That is because more strategic projects impact more people across the business. There are more points of view, higher risk if things go wrong, more return if things go right, a higher cost to the business should you decide to stick with the status quo.?

More strategic projects have more stakeholders influencing the projects plans and final decision. ?

Now, think about how many people typically want to chime in on an idea or project that you are hoping to get approved… go ahead, count them out.?

I am willing to bet that regardless of the level of spend associated with that project, there are likely a higher number of stakeholders, which increases the inherent complexity of the business case.?

Business cases for less strategic compliance projects are pretty straight forward. We need to do this and we need to do this now, or else. The process of distilling that narrative into something actionable and palatable takes a lot less tact than more strategic operational or transformational projects.?

How you and your team actually go about developing your business cases, both before an idea is brought to your attention and when you are bringing a project forward to your CEO or CFO, will dictate how successful you are in your role.?

Generating the Business Case?

Nate Nasralla is considered to be the foremost expert on the Business Case. He has interviewed hundreds of Executives and actively coaches sales professionals on how to generate compelling business cases WITH buyers, to help them achieve their goals.?

If you want to learn how to generate a business case that is CEO or CFO ready, he is a great person to follow on Linkedin, and be sure to check out his website www.fluint.io for more resources. Here is an interactive tool that breaks down every component of a great business case - https://app.screenspace.io/fluint/businesscase/3905

For more on generating business cases, or if you would like to review one that you are currently working on - feel free to reach out Bobby Hite