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Phase 1: Motivation
Phase 2: Research
Phase 5: Monitoring
Susanne Trading and Peckham International just heard of the new ESG requirement set by regulatory bodies. They decided that they had to integrate ESG into their business. Both companies embark on their journey to implement ESG.
Both companies start researching ESG to gain a better understanding and to identify both the internal and external benefits of ESG. While doing so, they search for assistance programmes and grants that can help to guide and support them throughout their journey.
Peckham and Susanne decided to look through their business model and daily operations to identify possible ESG gaps within their company. This helps them to understand where they stand in their ESG progress or existing ESG policies.
Pain point 1:
ESG is more of a “need” rather than a “want” . SMEs are being forced to take up ESG without gaining benefits.
Pain point for Peckham International: Grants are no longer a necessity as the amount provided through a grant is not significant enough for them.
Pain point for Susanne Trading:
Grants are either not applicable to them or they are not eligible to apply. For Initiatives, they do not have much excess funds to spend on programmes.
Pain point for both companies: No single standards or framework that companies can follow to research on their sustainability efforts.
Opportunity: Governmental aids are limited in scope. Bigger corporations in the sector and government can collaborate and form partnership to aid those excluded from these grants.
Pain point for Susanne Trading:
There is limited knowledge on ESG and they lack the technical knowledge to identify these gaps. Often not, these gaps are only identified when a problem occurs.
Opportunity: Government and MNCs can create a framework in which SMEs are able to use as a guideline while vetting through their business to identify improvements to be made.
Pain points for Susanne Trading: They have insufficient funds, resources and knowledgeable manpower to work on solutions and policies.
Pain points for both companies: There is a lack of uniformed regulatory framework and lack of credible quantification of ESG data. ESG data metrics may vary with different providers.
Pain point for both companies:
There is no specific department catered to the operating and monitoring of ESG. Companies may place the responsibility of ESG operation and monitoring to a department for the sake of satisfying external and internal stakeholders.
Pain point for Susanne Trading: Insufficient resources to keep up with the constant monitoring and improvement.
Pain point for both companies: There are too many ESG metrics to quantify their data for monitoring, with variable results churned for the same company. There are no uniformed metrics for monitoring.
Susanne and Peckham will conduct quarterly checks to know their ESG progress and effectiveness of the policies. With monitoring, they are able to benchmark themselves against competitors and conduct a top-down analysis of their business processes.
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Phase 4: Implementation
Phase 3: Identify Gaps
Peckham and Susanne decide to leverage the research they have done on ESG and grants available to strategize and implement a solution that caters to their business and customer base.
USER JOURNEY MAP
SME's Journey to Integrate ESG
"GO GETTER"
PECKHAM INTERNATIONAL
Peckham International Pte Ltd is involved in the production of manufactured snacks and sell it in Singapore. It is founded in 1999 and has factories in Malaysia. They started with wholesale trade in Singapore, garnered capital through wealthy investors, and slowly grew in popularity and expanded to food manufacturing. It sells product to wholesale as well as retail customers in Singapore.
PECKHAM INTERNATIONAL
MOTIVATION
1) Gaining Market Share (2) Profit-making
(3) Survival
STRENGTHS
Strong operational record and customer-centric product and services
CHALLENGES
Financial and Technical resources
"TAKE RISK, AIM BIG"
MOTIVATION
(1) Survival
(2) Profit
(3) Gaining Market Share
STRENGTHS
Good relationship with customers and suppliers
CHALLENGES
Lack of Financial, technical and human resources
SUSANNE TRADING AND CO
Susanne Trade and Co is a partnership between 2 good friends, they started in 2018 in the wholesale trade of frozen food from Japan to Singapore. Due to intense competition in the industry Susanne Trading and Co is seeking new innovative ways to stay alive and continue to grow at the same time cutting unnecessary cost.