Innovation and Sustainable Organisation - PDF
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Added on 2020-10-05
Innovation and Sustainable Organisation - PDF
Added on 2020-10-05
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Innovation and SustainableOrganisation
Table of ContentsAssessment 1....................................................................................................................................1Part A..........................................................................................................................................1Part B...........................................................................................................................................2Section 2- Company's approach in making profit out of sustainability.................................2Section 3- Literature section...................................................................................................3Section 4- Identification of stakeholders................................................................................4Section 5- Sustainability Benchmark.....................................................................................4Section 6- Recommendations.................................................................................................6Section 7- Conclusion.............................................................................................................6References........................................................................................................................................7Appendix..........................................................................................................................................8
Assessment 1Part ASustainability is defined to be one of the most talked about aspects in the current businessenvironment. The sustainability approach emphasises on producing products and services whichare better than their previous offering and at the same time considers well-being of thecommunity and society which revolves around business (Schaltegger and Wagner, 2011). I haveseen that it is not an easy task for an organisation to put sustainability into practice. I believe thatthe most important factor which makes it difficult to carry out sustainability practices is that theyare not included in the internal mechanism of an organisation. The practices of sustainability isconsidered as a additional burden upon organisation which therefore are not easy to beimplemented. The another reason which I thinks stands crucial is that there is a misalignmentbetween sustainability goals of an organisation and financial decision undertaken. They are to bebrought in the project later which tend to disrupt the budget and financial planning which arecarried out by an organisation.I think that reason which stands behind not undertaking any practices which relates tobenefits of the environment is that it is an expensive approach and organisation operating in themarket are bound to achieve profitability for their survival therefore under such circumstances,sustainability practices are kept as secondary which makes it difficult for their implementation. Ican say that the business organisation irrespective of their size must attempt to incorporatesustainability practices in their business strategy so that better environmental practices could becarried out. But there is an increase in the awareness amongst the organisation and persuasion ofbusiness is encouraging them to carry out sustainability practices as a part of their responsibilitytowards the society. I believe that there is an hindrance on the part of consumers as well whichmakes it difficult for organisation to carry out sustainability practices. Consumers are in a habitof purchasing products and services which are priced competitively irrespective of identifyingthe manner through which they are procured and manufactured. The preferences and trends which are being set by the consumers makes it very difficultto take risk and provides products and services which are environmentally sustainable (Tukkerand et. al., 2017). The consequences of repetition of such practices have made sure that hugelosses are incurred by the grounds of social and economic. There is an need for activeparticipation of everyone if looking to achieve certain grounds on sustainability and1
environmental welfare. I believe that poor sections of society are to considered and there shouldbe an attempt with which their needs and expectations are to be fulfilled. The redefinition of thepatterns of consumption have emerged to be an exclusive approach through which sustainabilitypractices could be implemented in the society. I can say that attention of all the concerned isrequired so that a environment can be protected and preserved. Part BSection 2- Company's approach in making profit out of sustainabilityTesla is an American organisation which is known to produce electric vehicle, solarpanels and energy storage devices. The company is emphasizing on producing products throughgiving due consideration to numerous elements on the environmental grounds. This organisationhave been reported profits in the first quarter of the 2017 which helped this organisation intoraising funds for this business (Surprise: Tesla turns a profit for the first time in three years,2016). The approach to consider profitability is that their shift to produce products which arefocused on the mass market rather than their previous strategy of serving niche consumers. Theanother approach which leads to making profits for the organisation is innovation. According togiven case study it is identified that number of institution was established for preventingenvironment from exploitative activities such as; world economic forum (2013), variousstatistical reports and so on. Their main objective is to create a nation free from harmful effectsand global warming by taking several initiatives. Basically Global competitiveness report 2013-2014 highlights the economies of around 148 nation as their main motive is to encourage societytowards development. It is tend to be a risky approach but once successful in the market it canlead an institution in making profits. For instance: the software of self-driving cars which hasbeen launched by organisation have emerged to be profitability and impacted their credibility inthe market for raising money from market for future endeavours.This organisation have recently adopted a strategy which was focused on attainingoperational efficiency for an organisation and identification of approaches through which costscan be cut down. The rise in the operational cost can be successfully countered with the costcutting strategies which enhances chances of an organisation in attaining profits. Therefore it canbe said that even after producing goods and services which are sustainable on the ecologicalgrounds this organisation is making profits. The credit for profitability attained by the businesscan be innovative and operational efficiency which are undertaken by senior management2
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