Innovation And Sustainable Business Development Assignment
Added on 2020-12-29
15 Pages3649 Words274 Views
Innovation and The SustainableOrganisation
Table of ContentsPART A:..........................................................................................................................................1Section # 1: REFLECTION....................................................................................................1PART B:...........................................................................................................................................2Section # 2: IKEA and its Sustainability offerings................................................................2Section # 3: Literature............................................................................................................3Section # 4: Sustainability stakeholders of IKEA..................................................................4Section # 5: Sustainability Benchmarks.................................................................................5Section # 6: Recommendations for managers........................................................................9Section # 7: Conclusion..........................................................................................................9Section # 8: References..........................................................................................................9Section # 9: Appendix..........................................................................................................11
PART A: Section # 1: REFLECTIONToday, with rapid development of industrialisation, threats related to global warming andincreasing pollution affect ecosystem more adversely. In order to stop unethical businesspractices and create sustainability, government has made a number of legislations such asEnvironmental Protection Act 1990, Environment Act 1995 and more (Taneja, Pryor and Hayek,2016). During lectures, I have gained knowledge through a Brundtland report given by WorldCommission of Environment and Development. As per this report, for developing sustainabilityin business and expand it at global level, organisations must focus on some important concepts.It includes ethical practices, latest technology, innovative strategies, sustainability and otherapproaches. Through technological advancement, they can improve operational activities andproduction to produce eco-friendly offerings. As people are also concerned to purchase productsfrom those companies also that offer organic products or ozone friendly services. Therefore, tograb attention of them and gain their retention, it becomes essential for such organisations tobring effective software in business and create innovations (Breuer and Lüdeke, 2017). Furthermore, to gain competitive advantage companies also need to implement effectivesustainable practices like reducing wastages, minimising carbon emission, make investment incorporate social responsibility and more (Remondino and Stylianidis, 2016). Here, reducingwastages will minimize harmful effect of industrialisation on ecosystem and also minimisecarbon footprint from production as well. While making investment in CSR activities aid inimproving brand image of business in the eyes of targeted audience. It also helps in promotingsustainable practices of a company and reaching targeted customers more effectively. However,to gain competitive advantages, it is essential for companies to concern on some tools andtechniques also (Doppelt, 2017). It includes analysing the factors that affect business activities ofbusiness, research and development, competitor analysis and more. Along with this, usage ofPorter’s five forces model. This may help organisations in analysing buyer’s power, suppliers’power, threat of new entrants, threat of substitutes and rivalry position by which adequatestrategies can be developed to reduce complexities in business. assume that using these tools andtechniques, a company can sustain within the complex business market for a longer period oftime (Tukker and et. al., 2017). Along with this, through lectures I have also gained knowledge1
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