In an era marked by rapid technological change, climate disruption, shifting public expectations, and growing scrutiny of business behaviour, the question of what makes an enterprise successful is undergoing significant transformation. The NENA Economic Literacy Hub recently hosted an important webinar, “Building Successful Enterprises – A New Framework”, led by David Hood AM and Susan Wanmer, both Directors of New Economy Network Australia Co-Op Ltd.
This session explored how enterprises, professionals, and community organisations can rethink the meaning of success under contemporary social and ecological conditions. Rather than measuring progress solely through profit or growth, the conversation urged participants to consider a broader, values-based framework that prioritises ecological regeneration, social wellbeing, ethical responsibility, and resilience.
Why Rethinking ‘Success’ Matters
Opening the conversation, David Hood invited participants to reflect on prevailing measures of success—particularly GDP at the national level and shareholder profit at the enterprise level. These metrics, he argued, fail to reflect ecological health, social wellbeing, or long-term resilience. They also encourage short-termism, competition, and extractive practices that are increasingly incompatible with life on a finite planet.
Drawing from decades of sustainability leadership—including recognition as one of the World’s Top 100 Sustainability Leaders—David highlighted the need for enterprises to shift from minimising harm to actively generating environmental and social benefits. This shift involves rethinking organisational culture, stakeholder engagement, and the meaning of status and ambition in professional life.
As he noted, “We need to be able to say at the end of our work that we have made the world a vastly better place—that nature is regenerating, that society is happier, and that our people love working for us—and that we remain financially viable.”
An Emerging Framework for Success
Susan Wanmer guided the session through an eight-part framework that brings together the economic, ecological, cultural, and ethical dimensions of enterprise.
1. Moving Beyond GDP
Success cannot be reduced to growth in output. New measures must recognise ecological limits and social wellbeing, drawing inspiration from international examples such as Gross National Happiness.
2. Rethinking Career Ambition
A successful career is no longer defined by wealth accumulation alone. Instead, it requires meaningful contribution to community and country, supported by education systems that cultivate social responsibility, systems thinking, and cultural awareness.
3. Embedding Nature in Practice
Enterprises must integrate ecological regeneration into their core operations—not as an add-on, but as a design principle. David emphasised the importance of working with First Nations communities, understanding place, and designing projects that enhance natural systems rather than degrade them.
4. Moral Ambition and New Metrics
Enterprises need measures aligned with “moral ambition,” a concept emphasised by thinkers such as Rutger Bregman: the aspiration to create outcomes that are wildly better for people and planet.
5. Social Cohesion and Cultural Integrity
Respectful engagement with communities—especially First Nations peoples—is essential to legitimacy and long-term resilience. Good enterprise practice requires equity, inclusion, and a deep respect for place-based knowledge.
6. Responding to Environmental Realities
Climate and biodiversity crises demand proactive planning, scenario analysis, and organisational resilience. Enterprise strategy must anticipate physical risks, shifting baselines, and accelerating change.
7. Replacing Shareholder Primacy
Traditional mandates that prioritise shareholder profit above all else limit the ability of organisations to act ethically or sustainably. Alternative governance models, including cooperatives, benefit companies, and purpose-driven structures, can support more holistic outcomes.
8. Legislative and Regulatory Reform
Current legal frameworks, including the Corporations Act and environmental legislation, must evolve to support regenerative and socially responsible enterprise. New sustainability reporting requirements offer early signs of change, but deeper structural reform is required.
Throughout the discussion, David and Susan reflected on their own experiences and the practical challenges of shifting deeply embedded norms within engineering, business, and public policy. They also emphasised the need for trustworthy information and careful discernment in the face of widespread misinformation—an area where NENA strives to play a stabilising, evidence-based role.