Shaping the Future of Sustainable Trade: Solvay EMBA's Advisory Lab Partners with ITC

In the heart of Brussels, the Solvay Executive MBA  stands as a leader in innovation in business education. Among its many distinctive features, the Advisory Lab shines as a prime example of the programme's commitment to bridging the gap between academic theory and real-world business challenges.

The Advisory Lab, a cornerstone of Solvay's learner- and real-world approach, offers EMBA participants a unique opportunity to apply our newfound knowledge to tangible business problems. This initiative, deeply rooted in Solvay Lifelong Learning's partnerships with corporate entities, serves as a crucible where academic insights meet industry demands.

Under the guidance of course instructors Laurent Gheeraert (Advisory Lab Academic Director) and Caroline Braeken (Advisory Lab Coach), our team embarked on an exciting journey with ITC, an agency of the United Nations dedicated to promoting inclusive and sustainable economic growth in international trade.

Our team of three, comprised of professionals from diverse backgrounds in academia and corporate operations, brought a wealth of perspectives to the table. This diversity proved invaluable as we navigated the complexities of launching what was essentially a start-up within the UN landscape.

From Academic Insights to Practical Solutions

The ‘Sustainability Compact’ project presented us with a multifaceted challenge: to develop a strategy for launching and sustaining an ambitious initiative aimed at generating multi-stakeholder discussions and sharing on sustainability standards, enabling private sector alliances in global value chains, and promoting research and innovation leadership.

The project scope was both exciting and challenging. We were tasked with mapping key stakeholders, assessing fundraising opportunities and developing a sustainable business model for this initiative.

As we engaged with the project, we found ourselves drawing on the theoretical frameworks introduced throughout our EMBA journey. Stakeholder mapping techniques provided a structured approach to identifying key players in the sustainability standards ecosystem. Porter's Five Forces analysis provided a structured approach to assessing ITC's competitive environment, while the Blue Ocean Strategy framework inspired our thinking on potential market differentiation. The Business Model Canvas became our guiding star in designing a sustainable operational model for the Sustainability Compact.

One of the most revealing aspects of the project was the application of fundraising and partnership development strategies. What initially seemed like theoretical concepts became crucial tools in developing a plan to reach the ambitious fundraising target of 500,000 USD, building upon the 200,000 USD seed funding already allocated by ITC itself.

The journey was not without its challenges. Translating real business concepts into actionable strategies within the unique context of an ITC agency requires a delicate balance. We often found ourselves struggling with the tension between theoretical ideals and the practical constraints of international organisations. It was in these moments that Laurent Gheeraert’s and Caroline Braeken’s guidance proved invaluable help. Their ability to bridge the gap between academia and the realities of international development helped elevate our team's approach, transforming theoretical concepts into practical consulting strategies and business models. Their help was instrumental in elevating the capabilities of some team members, transforming potential roadblocks into clear opportunities.

Strategic Recommendations

Our stakeholder analysis revealed a complex landscape of international organisations, industry actors, think tanks, foundations, and civil society organisations. This insight became the cornerstone of our strategic recommendations to ITC. We proposed a phased approach to partnership development and fundraising, focusing initially on immediate opportunities before moving towards more ambitious collaborations.

The potential impact of our recommendations was significant. Our financial modelling suggested that the Sustainability Compact initiative could not only meet its fundraising target but also establish a sustainable model for long-term operations.

These projections were met with enthusiasm by ITC's leadership team, particularly Mathieu Lamolle, our key contact from ITC (Senior Advisor, Green & Inclusive Value Chains, GIVC, Division of Sustainable and Inclusive Trade, DSIT), who saw in our proposal a strategic roadmap for elevating the Sustainability Compact initiative and positioning ITC as a pioneering centre for sustainable trade.

A Transformative Learning Experience

The Advisory Lab experience was transformative on both professional and personal levels. It beefed up our leadership skills, as we took turns leading different aspects of the project. Our problem-solving abilities were put to the test, particularly when faced with the unique challenges of operating within the ITC system.

Caroline and Laurent's coaching style was a lesson in itself. Their approach of guiding rather than directing allowed us to develop our own solutions, even when we felt out of our depth. The project also taught us the value of thinking globally while acting locally. An insightful conversation with ITC Senior Advisor Mathieu Lamolle during regular virtual meetings led to a crucial understanding of the on-the-ground realities of implementing sustainability standards in developing countries.

This experience underscored the importance of considering diverse perspectives in international development work. As we presented our final recommendations to ITC's board, the sense of accomplishment was tangible. We had not just completed a project; we had contributed to an initiative with the potential to shape the future of sustainable trade.

Equipped Better than Ever

The Advisory Lab has taken us on a journey from theoretical knowledge of Sustainability to practical wisdom, from individual contributors to global thinkers. In reflection, the Sustainability Compact project with ITC exemplified the essence of the Solvay EMBA experience.

It challenged us to think critically, act strategically, and lead empathetically on a global stage. As we return to our respective careers, we carry with us not just new skills and knowledge, but a profound appreciation for the power of bridging academic rigour with real-world challenges in international Sustainability ESG development.

Through this initiative, we were able to contribute to ITC’s mission of promoting sustainable trade and position the Sustainability Compact as a vital component of global efforts toward a more sustainable future. This hands-on experience has enriched our understanding of sustainability in international trade, and we look forward to seeing the project’s long-term impact as it evolves.