Managing Business Case For Sustainability -Myassignmenthelp.Com

Question: Discuss About The Managing Business Case For Sustainability? Answer: Introduction This study highlights on the importance of sustainability within the organization. It provides an overview about the history of Nestle and the strategy that this company should adopt for being more sustainable. Nestle is one of the worlds biggest transnational food and beverage organization as measured by revenue. This company has more than about 2000 brands that range from global icons to some local favorites and operates in 194 nations around the globe. Their products include coffee, dairy products, frozen food, cereals and other snacks. Their purpose is to enhance individuals quality of life and contribute to healthier future. Sustainability in business refers to the process by which the organization manages their social, financial and environmental risk, opportunities and compulsion (Buxel, Esenduran and Griffin 2015). Sustainability mainly facilitates the business to become highly resilient as well as productive, reduce cist and gain competitive advantage. Discussion Sustainable business practices refers to the environment friendly activities undertaken by the company that ensures all the processes, products and production activities address environmental concerns while maximizing profitability (Epstein and Buhovac 2014). There are several methods for building a sustainable company, some of which are listed below: By Creating integrated public policy- Building public policy basically on environmental problem is complex. The companies sometimes face challenges from the government for giving signals on the climate changing policy. In that case, the company should need to be create integrated public policy by setting new standards and invest in technology for becoming sustainable. Creating conditions that support innovations relating to sustainability- The companies should focus on innovations for reducing their affect on environment, reduce the use of material and improve commodities (Yakovleva, Sarkis and Sloan 2012). This will help to make positive change in society, which in turn will benefit the business. Collaborate with the value chain members- Effective collaboration is one of the vital ways of accelerating sustainability across the value chain (Schaltegger and Wagner 2017). In order to build sustainability in business, the leaders of the organization are required to collaborate with the industry peers, NGO partners, suppliers and other environmental companies for reducing adverse impact as well as potentially create new goods. Build dialogue on certain consumption- If the customers are unwilling to purchase environmentally responsible products, the movement of sustainability will stagnate. They should engage their customers in national sustainability dialogues in order to make decisions about responsible consumption as well as sustainable living. There are several benefits of sustainable company, some of which includes- It increases productivity and decreases cost- Sustainable practices within the business leads to efficient operation that protect resources, which in turn increases workers productivity and decrease cost (Kiron et al. 2012). This decreasing cost mainly encompasses strategies regarding energy conservation. Increase ability of business to comply with regulation-Sustainable company has the ability to comply with regulation enacted by government fir protecting the environment. Mitigate risk- Sustainable organization has the ability to mitigate risk of litigation that arises from social as well as other environmental issues. Reduction in usage of energy and waste- Sustainable companies have the benefit of less usage of energy and reduction in waste materials. Improves brand image- The organizations having sustainable business practices such as conservation of resources benefits them by giving them the opportunity to increase their brand image (Ameer and Othman 2012). It also helps them to gain competitive advantage against their rivalries. Attract employees as well as investors- Every individual like to be linked with positive business environment instead of having linked with social welfare scandals. Therefore, several individuals and investors gets attracted towards this type of company, which in turn benefits them to expand their business. Sustainable companies also get the advantage of building better relationship with their suppliers and government agencies. Conclusion Nestle is a sustainable company as they have created initiative with several food producers relating to sustainable agriculture. Sustainable agriculture refers to the efficient and productive way of producing agricultural raw materials. Still they are one of the hated companies in the world owing to their sustainability issues. The first problem that this company faced is the requirement for water sanitation. There are some evidences that reflect that Nestle has been involved with several incidents relating to pollution. This company should focus on preserving water, making biodiversity conservation, reduce air management, act on climate change thereby provide leadership for climate change, reduce waste and improve environmental performance through packaging. Their social and environmental responsibility includes understanding key problems for their stakeholders, encourage innovative practices, work with government agencies and other public bodies, targeting zero waste, optimize as w ell as innovate materials, safeguard as well as improve ecosystem , improve transportation as well as distribution etc. References Ameer, R. and Othman, R., 2012. Sustainability practices and corporate financial performance: A study based on the top global corporations.Journal of Business Ethics,108(1), pp.61-79. Buxel, H., Esenduran, G. and Griffin, S., 2015. Strategic sustainability: Creating business value with life cycle analysis.Business Horizons,58(1), pp.109-122. Epstein, M.J. and Buhovac, A.R., 2014.Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers. Kiron, D., Kruschwitz, N., Haanaes, K. and Velken, I.V.S., 2012. Sustainability nears a tipping point.MIT Sloan Management Review,53(2), p.69. Schaltegger, S. and Wagner, M. eds., 2017.Managing the business case for sustainability: The integration of social, environmental and economic performance. Routledge. Yakovleva, N., Sarkis, J. and Sloan, T., 2012. Sustainable benchmarking of supply chains: the case of the food industry.International Journal of Production Research,50(5), pp.1297-1317.