1RESPONSIBLE ENTERPRISE Responsible Enterprise Name of the Student Name of the University Author Note
2RESPONSIBLE ENTERPRISE Executive Summary Responsible marketing and responsible enterprise is an important concept in business activities today. Business enterprises are expected to be not just profit driven in their focus butalsosociallyresponsible,addressingseveraleconomic,socialandenvironmental challenges using the wealth or revenue that they generate. This report provides an outline of why it is important for businesses to take the sustainable development goals of UN into account when conducting operations, looks at some of the ways by which a sustainable supply chain can be developed by a business and explains the notion of responsible marketing in detail. The report concludes with a number of important recommendations on how a business can be more sustainable in its focus, arguing that being a responsible enterprise is something that most businesses should aspire to today.
3RESPONSIBLE ENTERPRISE Table of Contents 1.Introduction.........................................................................................................................4 1.1.Importance of Adhering to UN Sustainable Development Goals...............................4 2.Building Sustainable Supply Chain by a Responsible Enterprise......................................5 2.1.Setting the Direction....................................................................................................5 2.2.Implementing Expectations.........................................................................................6 2.3.Engaging in Traceability.............................................................................................6 3.Understanding the Concept of Responsible Marketing......................................................7 4.Conclusions/Recommendations for Sustainable Business Practice....................................9 4.1.Avoiding Excessive Use of Paper...............................................................................9 4.2.Donation of Meals and Clothes to Poor Children in Developing Countries...............9 4.3.Using Alternative Forms of Energy in an Office Space............................................10 4.4.Establishing Bonuses and Charity Rewards..............................................................10 4.5.Targeting Good Talent and Making the Workspace Socially Inclusive....................10 References................................................................................................................................11
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
4RESPONSIBLE ENTERPRISE 1.Introduction The aim and purpose of this report is to state why it is crucial for companies in the manufacturing sector or industry to adhere to practice environmental sustainability when carrying out their operations, given the rise in global warming and increasing evidence of the adverse effects of climate change in today’s day and age. The report provides an outline of why it is important for manufacturing companies to respond to UN sustainable development goals,mentionshowcompaniescanpracticeenvironmentalsustainabilitythroughthe implementation of a sustainable supply chain process and talks about the crucial role that responsiblemarketinghastoplayinpreservingandpromotingthewellbeingofthe environment. The report concludes with a number of important recommendations on how businesses can incorporate sustainability better than what they are able to do at the moment. 1.1.Importance of Adhering to UN Sustainable Development Goals The sustainable development goals that have been outlined by the United Nations should form the crux or the focal point of a business plan of any enterprise (Anderson 2017). On the 25thof September 2015, the United Nations led a process by which as many as 193 member states adopted 18 global SDG’s or sustainable development goals with the intention of bringing about an end to poverty, to fight injustice and inequality prevailing in global societies and to combat the challenges that are posed by climate change successfully by the year of 2030. The sustainable development goals of the UN are seen to cover an extensive range of challenges such as environmental degradation, geopolitical instability, diminishing natural resources, economic inclusion and the varied impacts associated with the detrimental process of climate change (Ammussen and Fosfori 2019). The agenda is defined by the sustainable development goals of the United Nations for inclusive economic growth that can be achieved by the year of 2030, provided these goals are developed with productive inputs
5RESPONSIBLE ENTERPRISE from academic organizations, business enterprises and non-profit organizations on a global scale (Balabanov et al. 2015). There are many companies across the globe, that are working quite actively to address problems such as economic inequality, and environmental issues. Several leading companies around the world have come to the realization that complex sustainability challenges can be adequately addressed only if they enter into collaborations with sector and industry organizations, governments, customers, NGO’s and the society at large (Croning and Dearing 2017). What the sustainable development goals of the United Nations does is provide a visionary and universal framework for such global cooperation as well as action to take place, bringing stakeholders together for the purpose of addressing as well as solving social, environmental and economic challenges (Dankova et al. 2015). Companies across the world today, including companies that operate in the manufacturing sector need to be conscious about incorporating the UN sustainable development goals in their operations, if they are to be regarded as responsible enterprises. Companies must adhere to UN sustainable goals in order to address risks, attract capital, drive growth and focus their purpose (Descubes et al. 2018). There are a number of ways by which such incorporation of the UN SDG’s can be implemented apart from drawing up developmental goals and setting up key performance indicators for the measurement of such goals, for instance, through the development of a responsible supply chain process, making use of sustainable products or addressing human rights and ethical issues in the domain of business, the first of which has been discussed in great details below (Kettleborough et al. 2018). 2.Building Sustainable Supply Chain by a Responsible Enterprise 2.1.Setting the Direction There are a number of ways by which a sustainable supply chain process can be built by a sustainable enterprise (Kashmanian 2017). The first of these involvessetting the
6RESPONSIBLE ENTERPRISE direction. When any company advances efforts in the area of sustainability, and moves along the path of sustainability, there are different aspects of business operations that need to be moved in a similar manner. The supply chain of a company is critical for both its business growth and developmentaswell as itsenvironmentalaccomplishments.For instance, Ferroro’scode of conduct for suppliers is one that includes that an entire section on the process of environmental sustainability and environmental protection, with a request being made on the part of the company that farmers and suppliers engage in rural and agricultural development through the use of good farming as well as sustainable practices, by sustainably sourcing raw materials and also by protecting animal rights and the respect, love, care and consideration for animals in society (Kashmanian 2017). 2.2.Implementing Expectations Implementing expectationsis the next important step that needs to be carried out in the process of developing a sustainable supply chain. While companies are seen to face a lot of challenges in their attempts to build up a sustainable supply chain process, many companies understand the full value as well as significance of doing so and are seen to engage in communications with suppliers for the implementing the steps that are necessary for improving their perspectives of the supply chain process (Kashmanian 2017). Dell Computers has for instance, gone on record to state that its supplier chain forms an indispensable part of its business and that it can be considered as an extension of the Dell team which runs into as many as hundred and ten thousand members. Gap Inc has recently stated that it has been strengthening its environmental strategies as far as possible by focusing very comprehensively on its supply chain process and making sure that its enterprise is one that is able to survive well enough in a highly competitive environment (Kashmanian 2017).
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
7RESPONSIBLE ENTERPRISE 2.3.Engaging in Traceability Traceabilityin the supply chain refers to the process by which a product is tracked as well as identified along its entire path of production from first being a raw material to ultimately ending up as a finished good. Traceability needs to be deployed in supply chain management is a sustainable supply chain is to be built. The efficiencies and value that are associated with traceability include the reduction of risk, operational efficiencies as well as process consistency in additional to reputational benefits, supplier security, good supplier relationships and a secure supplier process overall (Kashmanian 2017). Traceability helps in meeting all the stakeholder demands for the purpose of acquiring more product information while ensuring at the same time that sustainability claims are entirely true. Traceability helps in meeting legal requirements and ensuring that legal regulations are being carried out and implemented in the desired fashion. In terms of global alignment, traceability ensures the security of natural resources as well as the standardization of processes, expectations and systems. Concerns or issues that are related to security, safety, conflict wood, conflict minerals as well as protection of all types of natural resources are those that can be emphasized when it comes to tracing materials through a supply chain. The Nestle Company has for instance gone on record to state that it ensures that the palm oil that is sourced by the company is not linked to deforestation activities and that to know exactly where such palm oil is coming from, the company engages with its suppliers and works towards carrying out the process of traceability as well as field assessments against the company’s RSG’s. Nestle can thus be regarded as a company that is characterized by a responsible and sustainable supply chain process (Kashmanian 2017).
8RESPONSIBLE ENTERPRISE 3.Understanding the Concept of Responsible Marketing Responsible marketing or socially responsible marketing as it is commonly known is a concept that all companies across the globe ought to take into consideration. This is a concept of marketing that is highly critical of anything that is found to be excessively consumerist in its character (Ng et al. 2018). Responsible marketing is also critical of the damages that are caused to the environment because of the activities of corporations. Responsible marketing is something that is based essentially on the idea that a market offering is not what should be profit driven only in its focus, but that it should also reinforce ethical and social values in order to benefit the citizens of the country in which such marketing activities are being carried out. Responsible marketing is at times viewed as nothing but an extension of the wider concept of CSR or Corporate Social Responsibility. Corporate social responsibility is a well known business model that helps an enterprise to self regulate itself, recognizing that the activities of such an enterprise is likely to impact a wide range of stakeholders that may even extend to members of the general public (Ridley-Duff and Bull 2015). Responsible marketing is an entity that emerged as a crucial response to the many questions that were being posed about marketing practices that were generating adverse consequences on the society. Some of the important criticisms associated with conventional marketing that led to the birth of responsible marketing are firstly the notion that mainstream marketing strategies are those that lead to the emergence of very high prices of products, secondly that there is a lot of aggressive emphasis on marketing and promotions and that product differentiation which forms a crucial feature of conventional marketing generates unnecessary psychological value for particular brands while raising environmental concerns regarding packaging at the same given time (Searcy 2016). What responsible marketing entails in the ultimate analysis is that marketing should have a social and sustainable focus
9RESPONSIBLE ENTERPRISE and not just a profit driven focus. Marketing activities ought to be carried out not just for the generation of wealth but also for encouraging the types of ventures or activities that contribute to environmental and social sustainability while also producing a good amount of profit for an enterprise. There are numerous marketing concepts which fall within the purview of responsible marketing. These are cause related marketing, green or environmental marketing, socially responsible buying and social marketing (Strukelj 2016). There are a number of well known examples of socially responsible marketing or responsible marketing that are worth keeping in mind in order to understand the concept better (Seiler-Hausmann et al. 2017). Ugmonk, which is a renowned modern day design store has used a lot of its profits to donate as many as eighty thousand or more meals to children who are faced with starvation in Nicaragua and Honduras. Faucet Face, which is a store that engages in the sale of glass water bottles has also been seen to partake in responsible marketing activities. The use of glass water bottles implies that the use of plastic water bottles is discouraged. Plastic is quite detrimental for the natural environment of any country while glass is not. By offering glass water bottles at competitive prices, Faucet Face has managed to bring about a huge decline in the use of plastic in many places (Usova and Velkhin 2018). 4.Conclusions/Recommendations for Sustainable Business Practice 4.1.Avoiding Excessive Use of Paper There are quite a few ways by which businesses can adopt sustainability practices in order to combat the economic, social and environmental challenges that society is faced with today. Firstly, businesses can avoid the use of excessive paper as paper is becoming more and more scarcebytheday.Businessenterprisescanconductmostoftheiroperationsor communication digitally or electronically, with minimal use of paper involved, as the less is
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
10RESPONSIBLE ENTERPRISE the paper used, less will be the number of trees that are cut down to produce paper in the first place (Valackienė and Micevičienė 2015). 4.2.Donation of Meals and Clothes to Poor Children in Developing Countries Business enterprises for which profit levels happen to be quite high can consider the idea of donating clothes and meals to school going children in developing countries, that is, children from impoverished backgrounds who rely on donations in order to survive and meet their daily needs (Weldon 2018). 4.3.Using Alternative Forms of Energy in an Office Space Offices ought to consider powering their work spaces with alternative forms of energy such as the installation of solar panels instead of opting for the conventional use of electricity. By doing so, they will be able to bring down their power consumption considerably, and avoid running up a huge power bill at the same given time (Weldon 2018). 4.4.Establishing Bonuses and Charity Rewards Establishing charity rewards as well as bonuses is another way by which a business can get itself to be far more socially responsible than what it may be at the moment. A charity reward could imply a scholarship that is given to students from meritorious but needy backgrounds that they can use in order to pursue higher education and consequently make their dreams come true (Searcy 2016). 4.5.Targeting Good Talent and Making the Workspace Socially Inclusive Targeting good talent and including people from diverse ethnic, religious and cultural backgrounds into its workforce is another effective way by which a business enterprise can become socially responsible. Members of all gender and from all segments of society need to
11RESPONSIBLE ENTERPRISE be given equal opportunity at a workplace, in order for the enterprise to be regarded as one that is truly responsible and socially inclusive in character (Searcy 2016).
12RESPONSIBLE ENTERPRISE References Andersen,T.J.,2017.Corporateresponsiblebehaviorinmultinational enterprise.International Journal of Organizational Analysis,25(3), pp.485-505. Asmussen, C.G. and Fosfuri, A., 2019. Orchestrating corporate social responsibility in the multinational enterprise.Strategic Management Journal. Balabanov, V., Balabanova, A. and Dudin, M., 2015. Social responsibility for sustainable development of enterprise structures.Asian Social Science,11(8), pp.111-118 Cronin, M.J. and Dearing, T.C. eds., 2017.Managing for social impact: Innovations in responsible enterprise. Springer. Dankova, P., Valeva, M. and Štrukelj, T., 2015. A comparative analysis of international corporatesocialresponsibilitystandardsasenterprisepolicy/governanceinnovation guidelines.Systems Research and Behavioral Science,32(2), pp.152-159. Descubes, I., McNamara, T. and Cragg, T., 2018. Recycling waste and upcycling people: a new type of environmentally-motivated social enterprise strategy.International Journal of Manufacturing Technology and Management,32(3), pp.270-296. Kashmanian,R.M.,2017.Buildinggreatertransparencyinsupplychainstoadvance sustainability.Environmental Quality Management,26(3), pp.73-104. Kettleborough, H., Wozniak, M. and Leathlean, D., 2018. Reflections on Using Creativity in Teaching Sustainability and Responsible Enterprise: A First and Second Person Inquiry. InImplementing Sustainability in the Curriculum of Universities(pp. 173-192). Springer, Cham
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
13RESPONSIBLE ENTERPRISE Ng, A.W., Leung, T.C. and Tsang, A.K.T., 2018. Social Enterprise for Elderly Housing: Policy for Accountability and Public-Private Responsible Financing.Journal of Population Ageing, pp.1-20. Ridley-Duff, R. and Bull, M., 2015.Understanding social enterprise: Theory and practice. Sage Searcy,C.,2016.Measuringenterprisesustainability.BusinessStrategyandthe Environment,25(2), pp.120-133 Seiler-Hausmann, J.D., Liedtke, C. and von Weizsäcker, E.U. eds., 2017.Eco-efficiency and beyond: Towards the sustainable enterprise. Routledge Štrukelj,T.,2016.Revivingbusinesswithsocialresponsibleenterprisegovernance orientation.How is done in Great Poland, Poland and worldwide, pp.165-177. Usova, M.A. and Velkin, V.I., 2018, March. Possibility to use renewable energy sources for increasing the reliability of the responsible energy consumers on the enterprise. In2018 17th International Ural Conference on AC Electric Drives (ACED)(pp. 1-4). IEEE. Valackienė, A. and Micevičienė, D., 2015. Promoting socially responsible business at enterpriselevel:theoreticalapproach.JournalofBusinessEconomicsand Management,16(3), pp.558-570. Weldon,M.N.,2018.CorporateGovernance,Compliance,SocialResponsibility,and Enterprise Risk Management in the Trump/Pence Era.Transactions: The Tennessee Journal of Business Law,19(1), p.14.