Sustainable Development and Business Practices

SUSTAINABLE
BUSINESS PRACTICE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1 Significance of sustainability...................................................................................................1
2 Current global sustainability agenda and issues.......................................................................2
3 Impact of current issues on businesses.....................................................................................3
4 Analyse the reason for UK organization to adopt sustainable practices..................................4
TASK 2............................................................................................................................................5
1 Analyse the meaning of sustainable business organization.....................................................5
2 Changes required to become sustainable business unit............................................................5
3 Analysing the principle of triple bottom line and its implementation in business...................7
4 Sustainable planning process...................................................................................................8
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Global expansion and internationalization has an effective impact n the business
operations and its success. 38% of SME have expanded or are planning to expand the business
beyond geographical boundaries to develop new and effective growth prospects across the globe
(Uusi-Rauva and Nurkka, 2010). Present study will focus on evaluating and understanding
different global practices adopted by business unit for sustainable growth and development. The
case analysis of Primak has been considered for analysing the factors and issues of globalization
and various business practices adopted by the company to ensure success of the same. On the
basis of the given case, the competitor of the company are planning to develop their strategies
and plans. The report will provide a clear understanding of the same considering major points of
concern.
TASK 1
1 Significance of sustainability
Sustainability is broad concept which develops an effective understating about human
world and environmental survival taking into account business, technology and ecological
factors. It focuses on analysing the impact of business and technology on environmental safety
and effectiveness. It helps in developing a wide and effective impact on the growth of business
and environment as well. Vanhamme and Grobben, (2009) states that sustainable development
satisfies the needs of the present generation without compromising the chance for future
generation to satisfy their needs. The concept of the sustainability is significant for the growth
and development of the business units. It combines environmental, social, financial, ethical, legal
and political issues for the business which provides it an effective and well developed platform
for enhancing business opportunities.
Majority of business units are adopting the stated approach because internationalization
and advancing technologies has helped businesses in attaining vast economic opportunities for
business development (Wang and Chaudhri, 2009). Effective consideration of social and
environmental issues helps business in effectively meeting needs of employees society and
government. Hence, this helps it on building a strong and competitive brand image within the
market. In addition to this sustainability focuses on optimum utilization of products and
resources which helps in minimizing the cost of operations and reducing wastage as well
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(Climate Change is a Stakeholders Business, 2015). The case of Primark clearly reflects a similar
situation where company took a positive and influential use of globalization by developing its
manufacturing operations in Asian counties. The strategic planning of business helped in making
use of low cost resources which enhanced financial capability of the business. It introduced
social influence on people HERproject which enhanced capability of local residents and
delivered positive result for the company as well. Moreover, the company also kept a close check
on environmental safety and effectiveness by adopting practices like green supply chain etc.
Hence the above analysis effectively helps in understanding the significance of sustainability
concept for growth and development of business and society as well (ENERGY & RESOURCES.
2015).
2 Current global sustainability agenda and issues
Current scenarios of the market has created a wide impact on the growth of the economy.
However, the growth and development is not balanced. The current economic situation of the
world can be stated by saying that poor are becoming poorer and rich are becoming richer.
Moreover, with concern to the issues regarding limited resources and rising cost of energy and
water, regulatory bodies have developed agenda for sustainable development (Bakar, Sheikh and
Ameer, 2011). The key issues addressed for the same are: Poverty: Increasing poverty, hunger, rate of unemployment etc. are the crucial issues
which has caused a major imbalance within the market. Majority of world population is
surviving under minimum access to health, education, safety and hygiene. The goal of
sustainability is to bring about a structural change to bring balance in the economy and
attract investment for poor and underdeveloped countries. Fair trade: This policy of the organization focuses on doing trade in an effective manner
where farmers, agents and suppliers are empowered to attain effective and high growth
prospects. This global issues is addressed by encouraging policies for effective supply
chain management and developing positive relations with suppliers to enhance and
develop their lives and well being (Blombäck and Scandelius, 2013). Environment factors: This issue involves risks and problems related to major climatic
change, risks to bio diversity, carbon emission, increasing intoxication etc. this risk
caused a major impact on the environmental factors within the economy. Thus,
sustainability focuses on balancing financial and environmental factors for the growth for
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