Rocking the establishment: the power of youth in business
What happens when you give eight bright young entrepreneurs the freedom and resources to change the way we approach sustainable business?
They create something revolutionary, while making established businesses sit up and take notice.
Over the northern summer, DNV GL gathered a team of students from a range of studies at the company headquarters outside Oslo, Norway. In six weeks they had to create a digital platform to drive awareness of the UN Sustainable Development Goals (SDGs). In addition, the tool needed to create value for both business and society.
The result is Wembo. It’s a two-part digital platform to enable businesses and consumers in reaching the Global Goals through transparency, collaboration and sharing.
What is Wembo?
Wembo consists of two digital products: an online dashboard called Wembo Analytics for businesses, and a smartphone application called Wembo Go for consumers.
Wembo Analytics is a web portal enabling companies to share, monitor and improve their sustainability performance across every link of the supply chain. DNV GL’s data center then analyzes the information, providing companies with a score of how sustainable their production is. Through using Wembo, a company could see how it measures up against competitors, and select suppliers based on their sustainability scores.
In addition, the Wembo Go app lets consumers scan and compare products side by side. Buyers can therefore choose the product with the best sustainability score. This could be based on things like labour practices, or how far a product has travelled for processing and packaging. As a result, the app encourages more sustainable consumption by letting consumers see the global impact of the products they choose.
“Before I started working on the project I didn’t really grasp the size of the negative impact we humans are having on the planet. I hope Wembo can contribute to a more sustainable future”, explains Stefan Michael Elston, a graduate student from the Norwegian School of Economics (NHH).
Backing youth in business
When companies like DNV GL hire interns, the standard assumption is that we’re going to teach them about the world of business. With our summer project, we turned this completely around. Instead we gave the students the opportunity to teach us what to do. I’m convinced giving young digital natives this kind of opportunity and responsibility will be a key factor for success in the accelerating technological shift that is happening today. This approach is extremely valuable. As a result, we as a company stay flexible, creative and energized.
It’s also a boon for the students: partnering with a global company and working on something that has real-world significance puts them a step ahead in the competitive graduate market.
I am truly impressed to see what the students have created over just six weeks. At DNV GL, we aim to enable sustainable business models and encourage industries to see the opportunities and the value of being transparent. Wembo fits right into this approach. Over a short period, these students have given us a tool to help the world reach the UN Sustainable Development Goals by year 2030. They really are members of ‘Generation S’; the custodians of tomorrow who understand the power of sustainability to create positive change.
The combination of big data analysis and transparency Wembo provides could very well be the key to unlocking a safe and sustainable future.
This post was originally published on Bjørn Kj. Haugland’s Huffington Post blog.