Innovation and the Sustainable Organisation : Project
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Added on 2020-06-04
Innovation and the Sustainable Organisation : Project
Added on 2020-06-04
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Innovation and theSustainable Organisation
Table of ContentsINTRODUCTION...........................................................................................................................1PART A...........................................................................................................................................1Section 1: Concepts of sustainable and circular economy are difficult to put into practice inour consumer society...................................................................................................................1PART B............................................................................................................................................2Section 2: Company's approach of making profits from sustainability......................................2Section 3: Relevant Literature.....................................................................................................3Section 4: Company's sustainability stakeholders.......................................................................4Section 5: Sustainability benchmark...........................................................................................5Section 6: Recommendations for managers................................................................................6Section 7: Conclusion.................................................................................................................7REFERENCES................................................................................................................................8APPENDIX......................................................................................................................................9Week 1........................................................................................................................................9Week 2........................................................................................................................................9Week 3........................................................................................................................................9Week 4........................................................................................................................................9Week 5......................................................................................................................................10Week 6......................................................................................................................................10
INTRODUCTIONInnovation is a major part of business which need to understand by business managersproperly (Dutz, 2017). Innovation enable and support business organisation to gain market shareand maintain effective and efficient working as well. Thus, business used to focus on innovationat a level of extent so that sustainability of organisation could be maintain and manage. Thus,business need to understand this concept in better and efficient manner so that organisation couldbe gain the leverage and competitive advantage as well. This project is based on Toyota which isone of a famous German automotive company in the world and have vast interference at theglobal level as well. Business will going to understand the concept of sustainability and circulareconomy where consumer society is not getting put into aspect. Along with this, it will also usedto discuss about the company approach to gain sustainability and deriving profit as well. Suchaspects used to contribute in success and sustainability of an enterprise for long term. PART ASection 1: Concepts of sustainable and circular economy are difficult to put into practice in ourconsumer societyCircular economy is considered as a method which aid in sustainability of environmentand for this some economic models will be developed that will reduce adverse affect. This isbasically termed as an option to traditional linear methodology (Svensson and Nilsson, 2018).Circular economy helps to maintain product value at marketplace for maximum period of time.In addition to this, this assists to minimize wastages and resources as well. It leads to growth,innovation and in addition job development. Thus, it get understood that, this will boostcompetitiveness as well as sustainability in market for long duration. Circular economy will aidto boost business in country in an effective and efficient manner.In modern era, this has been identified that company needs to conduct research atmarketplace; therefore, they will be able to know about needs and wants of clients. This willassist them to accomplish it within limited period of time. In this manner, affiliation willmaintain their sustainability in market for maximum duration. If they are unable to fulfil desiresof persons then, this will cater impact to their success as well as growth in a direct or indirectway. Hence, clients are termed as end user of products and services. It is must for company tooffer qualitative items to them at affordable price.1
By concluding above description, this has been comprehended that, it is not easy to putcircular economy on consumer society. In past times, market was based on the concept of seller.They sell products and services to consumers as per their wants. They never obtained responsefrom people (Hildreth and Kimble, 2014). Fundamental aim of firm was to earn maximumrevenues; therefore, they will easily expand their business activities and in addition survive inmarket for maximum time span. On the other hand, in recent era, it is must for affiliations toknow about requirements of clients as they are much essential for any company. If they aresatisfied with the items then, organisation will easily survive at marketplace for maximum timespan, otherwise they will lose their existence. Now, only those goods are retain in market whichare much demanding by individuals. Henceforth, it is very difficult to put circular economy intopractice customer society. Along with, before development of any items superior of an association needs to evaluateneeds and wants of clients so that it will get manufactured accordingly (McElroy, 2013). For this,various kind of methods will be used by them, such as social sites, interview, group discussionetc. Therefore, their product will maintain their position in market for maximum time span. Inthis way, that item will obtain circular economy at marketplace. Along with, it is required forfirm to maintain those resources which help to produce that items as it enables them to knowabout life line of merchandise.PART BSection 2: Company's approach of making profits from sustainabilityToyota is a automotive company which is established in United Kingdom. They areproviding products and services to clients across the nation. It is essential for them to secureenvironment from any sort of harmful activities. This aids them to survive at marketplace formaximum period of time. In this way, they introduce a e- car which support to the environmentin order to maintain and manage sustainability which further assist in deriving better andefficient gain. This will used to manage working and support in making profit throughsustainability which is a major option or want of every company. A basic approach which could be utilise by the company in order to generate profitthrough sustainability is to produce and manufacture E- cars whom used to reflect less pollutionon environment. Although, management specifically focus on innovation and invention both2
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