Bansal is known for her interdisciplinary approach to sustainability, integrating elements of business, environmental science and community engagement. She has covered a wide range of topics in her work, from examining the impact of sustainability initiatives on business performance to analysing the role of companies in addressing global environmental problems. Bansal points out three essential elements that are often missing in the field of sustainable innovation in companies: "First of all, companies tend to think too short-term. Secondly, companies often want to operate globally, while sustainability requires strong local anchoring. Thirdly, companies often want to grow and scale up, but in the pursuit of sustainability, we cannot afford for all companies to have the goal of increasing their size," Bansal says.
Collaborate at a local level
As a company, can you incorporate sustainability into your strategy and do your bit for the environment and the world, while remaining profitable at the same time? This is an issue that concerns many entrepreneurs, but Tima Bansal is confident that it is achievable: "You can create value for yourself and the world through new and innovative products, services and business models." Bansal uses a powerful metaphor to illustrate her point: "Think of yourself as a parent in a family. If you only take care of yourself, the family will eventually fall apart. But if you take care of both yourself and your family and balance both aspects in every decision you make, you will discover that this is the best approach. I believe we can create the same mentality for companies." In addition, Bansal emphasises the need for cooperation at a local level. "We must actively pursue the transition to a circular economy. This means embracing locally driven solutions, without always relying on cutting-edge technologies. Specifically, people can, for example, actively buy their vegetables from small-scale, local shops that offer organic and seasonal products. Or we can promote reuse and recycling at a local level to reduce waste and preserve valuable materials for local production," Bansal indicates.
Network for Business Sustainability
In addition to emphasising the importance of collaboration among businesses, governments, and civil society organizations, Bansal herself has also placed a strong focus on collaboration. She has always believed in the potential of collaboration between academics, business leaders and civil society organisations to drive positive change. The Network for Business Sustainability (NBS), a research centre she founded in 2003, is a vivid example of this belief.
Bansal: "At NBS, we actively strived to reduce the gap between research and practice. That's why we joined forces with managers in Canada to answer their specific questions, rather than focus exclusively on business issues. I am convinced that we have made significant progress in this area."
