Table of Contents INTRODUCTION..........................................................................................................................3 Main body..................................................................................................................................3 Principles and practices of sustainability...............................................................................3 Corporate social responsibility................................................................................................4 Difference between sustainability and corporate social responsibility................................4 Background information of new start up business...............................................................5 Current consideration of sustainability practices and corporate social responsibilities...5 Corporate social responsibility................................................................................................6 Critical discussion....................................................................................................................7 Sustainable practices which are adopted by our business....................................................7 The corporate social responsibilities are relevant and applicable to business...................9 CONCLUSION............................................................................................................................10 REFERENCES.............................................................................................................................11
INTRODUCTION Sustainable business practices is defined as the important part of the corporate risk management. It plays an important role in holding the process which damage the overall corporate reputation.Sustainable business practices ensure that all the business practices connected to the supply chain which engaged in the ethical practices and sourcing material which can be certified as environmentally friendly(Tay and et.al., 2016). Corporate social responsibility also plays an important role in developing the business operations at the global level because organisation monitor and ensurers its active compliance with the spirit law, ethical standard and internationalrulesandregulation.Corporatesocialresponsibilityisresponsibleforthe companies activities and increase the positive impact through its actions on the various aspects such as environment, customers, employees, stakeholders and communities which helps in improving the brand image of the firm(Unit, 2015). Report will define the principles and practices of sustainability and also explain the corporate social responsibility. In this assignment we will apply the principle and practices in the real life business scenario that is Z78 cafe. Further we will also discuss the sustainable practices and level of social responsibility which are followed by the entrepreneurial venture or Z27 cafe. Main body Literature review Principles and practices of sustainability According to Nolet, Sustainable business practices are defined as the environmental friendly practices which is followed by a company with the purpose of becoming a more sustainable organisation in the market place.With the helps of these practices companies minimise their environmental footprint through developing various activities which reduce the unethical environment practices. Sustainable business practices may be differ from organisation to organisation because some business firm follow the paper less billing process for showing that theyarecommittedtosustainabilitywhilesomeoforganisationmakeenvironmental consideration as a part of business activities such as energy reduction, cleaner production process and reducing the wastage which all are considered to a sustainable business practices(Nolet, 2015). According to sustainable business model there are various principles which are essential for the success of the organisation. It includes diversity, modularity, openness, slack resources
and matching cycles. Every business need the diverse range of resources, peoples and investment to be resilient which results in the high productivity of the firm. Openness principle of sustainability defines that organisation need to continuously monitoring the external environment and also make the various decision for possible future issues which results in the better performance of firm in the market place. Corporate social responsibility According to Philips, corporate social responsibility defines as standard business practice of every organisation. It plays a crucial role in the companies' competitiveness and future growth. The main objective of the CSR is to achieve a positive impact on a society as a whole while maximising the creation of shared value for the owner of the firms, employees and shareholder and customers. Corporate social responsibility helps in the brand image of the company because the public perception of the company for customer is critical and by designing positive impact on the stakeholders company can make a name its self for not only being financially profitable but socially conscious as well. Corporate social responsibility also has great impact on the buying decision of the customers because it maintains a better relationship with consumers through providing better goods and services(Schrempf-Stirling, Palazzo and Phillips, 2016. ). Difference between sustainability and corporate social responsibility BasisBusiness sustainabilityCorporate social responsibility MeaningItreferstotheabilityof companywhichhelpsin surviveinfutureandto increase the productivity of the firm. It defines as a ways in which company operates its business activities that is beneficial to the society and environment. DriveIt is driven by the various need of the business which protect the reputation of the firm in thedevelopedmarket(Unit, 2015). It is driven by the various need of the company which helps the business for creating the opportunitiesinemerging market.
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Background information of new start up business I wish to start a new business. My basic idea behind starting this business is to open a roof top cafe which would provide the view of the entire city and would be the eye of the customers. The name of business is Z27 cafe which provides food and beverage services to its customers with better interior decoration facility and best sitting arrangement to customers which increase the satisfaction level of consumers, it also helps in promoting the cafe. The proposed Business is related to the food industry which offer a wide variety of food products including choice of fast food such as burger, gills, steaks and cod. The cafe takes away and dine-in services. The products and services which we will be offering to our customer includes hot and cold coffee, special espresso drinks and various food products such as pizza, sandwiches and other beverage foods. We will also offer the best testing food products with the better services such as sitting facilities at the roof top and also provides the musical system for creating a better atmosphere in our cafe for the consumers. The key activities of our business such as Z27 cafe is make higher profitability through preparing and selling the food products to customers and doing various activities which includes learning more about the customer wants and requirement. It also involves learning about the new production technique for improving the food quality products. We will also do various activities in terms of experiment in new recipes for providing new dishes to customers which brings new consumers towards our cafe and also provides the varied options for our customers which helps in promoting our business in the market and results in higher productivity as well as profitability of the cafe. We will design the great online sites and websites for providing goods and services to customers and also provides the home delivery facilities to consumers(Epstein, 2018). Current consideration of sustainability practices and corporate social responsibilities The current consideration of sustainability practices in our proposed business is mainly focused on environmental pillar such as reducing the carbon footprint, packaging waste and raw material usage and their overall effect on the environment. With the help sustainable business management, we can improve the performance of our proposed business which helps in managingthebetterrelationshipwiththeiremployees,stakeholderandcustomers.For employees satisfaction our business mainly focused on retention and engagement strategies which includes responsive benefits such as flexible scheduling and learning and development
activities. The sustainability practices also define the economic pillar which is followed by our z27 cafe, to be sustainable our must be profitable. With the help of this pillar our business can be effectively manage the compliance and risk management activities(Tay and et.al., 2016). Sustainability is the important part of our business in terms of understanding and implementing into our everyday business practices. In this our proposed business use the environment friendly equipments and provides better quality goods and services to customers. Sustainability not includes only economic performance but also considering the environmental andsocialimpactonthebusiness(LaszloandZhexembayeva,2017).Ourbusinessalso considered the sustainable consumption which have a core objective and one of the biggest factor of the change for individual customers. We will also follow the sustainability as innovation in our proposed business which will first seen as an operational concern, consisting largely defensive efforts to reduce the companies environmental footprints and minimising the wastage of food products. Secondly it will shift to innovation in terms cost reduction which improve the profitability of our cafe. Corporate social responsibility My proposed business follows the corporate social responsibility which includes the ethical business practices, the primary focus of ethics is to provide fair labour practices for employees and suppliers. Fair business activities for employees includes equal pay for equal work and also providing the minimum wage guarantee to employees and the ethical labour practices for suppliers involves use of products which has been certified as meeting fair trades. The corporate social responsibility also defines the economic responsibilities which will be considered by our proposed business such as Z27 cafe that facilitate the long term of growth to the business firm, while also meeting the standard set of ethical and environmental practices. Through maintaining the balance in economic decision with their over all effect on society which results in improving our business operations(Wang, Takeuchi and George, 2016). For example our business can effectively do the economic responsibilities when it modifies its manufacturing process through including the recycled products that could be beneficial our business in terms of potentially lowering the cost of products. Corporate social responsibility is the idea and with the help of this idea our business can be socially involved in the environment which can be possible through engaging in non profit causes, to bettering the local communities and strongly connected with the employees. Corporate social responsibilities plays an important role in connecting the
business and employer with the society. With the help of corporate social responsibility we can improve the public image of our business through monetary donations, voluntarism and in kind donation of product and services. Critical discussion Sustainable practices which are adopted by our business There are various sustainable practices that are adopted by our cafe which has not only contributed in increasing our sales but have also fostered our brand image which in-turn has helped in retaining and attracting more customers. The most important sustainable practice which is adopted by our cafe is to plant more trees. This practice has not only held in providing customers, a pleasant environment but has also enhanced the view of the cafe. It also includes various practices such as reduce the wastage, reduce pollution, use energy efficiency and consider sustainable interior decortication which are adopted by our business(Kurucz and et.al., 2017). The sustainable practice such as reducing the wastage is adopted by our business which can be effectively done by our cafe through serving proper foods which will results in less food waste and we can also donate leftover food to local shelters. In this practice we also go through paperlessprocessmeanstakingonlinereservationsandcreatingpaperlessbillingforall customers as well as employees. The most important sustainable practice is clean green means use environment friendly cleaners. With the help of this practice we will try steam cleaning our floors and also clean the carpet with hot water versus using chemical and also wash the dishes in eco-friendly washing powder which helps in establishing the healthy atmosphere in the cafe which attract the customers towards our cafe. We can also adopt the energy efficiency sustainable practice, it takes a lot of energy to run our cafe with success because it keeps indoor temperature in terms of not too high or cold always provides the better interior with balanced temperature which are suitable for atmosphere of the cafe. For example our proposed business is to start-up a cafe and for making sustainability in the business operations, we have to reduce and processing wastage more efficiently. As we are starting our business ensure that we are purchasing the environmentally effective machines and equipments for our cafe. With the help of sustainability practices we can improve the public
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relations because every customer cares about environmental issues and many customers are paying attention to the sustainability policies of the business from whom they purchase the goods and services. Sustainable practices also can helps in increasing the sales of our cafe through improving the brand loyalty. Customer perception can determine weather a products sells(Alves, and Alves, 2015). corporate social responsibilities Thereare various type of corporate social responsibilities which helps in improving the overall performance of our business. It includes main four corporate social responsibilities which are adopted by our business such as environmental sustainability initiatives, direct philanthropic giving, ethical business practices and focus on economic responsibilities which are benefited to society as well as business(McWilliams, 2015). The corporate social responsibility includes the environmental sustainability initiatives which adopted by our business, it focuses on minimising the pollution and decreasing the wastage. In this business takes various steps to reduce air, land and water pollution which improve the image of our business as good corporate business unit and it is also helps to the societies. For example Cisco system is a multinational technology company which takes various stepsto reduce itscarbon footprints including the installation of photovoltaic system at production facilities and developing platform which allows the employees to work from remote locations rather than working in the office(Grayson and Hodges, 2017). The corporate responsibilities also involves Direct philanthropic giving which includes the donation of time, money and resources to charities and various social service organisation which helps to national disaster relief and educational programmes in various developing countries. For example the bill gates, micro soft co-founder donated a billion of dollars to the bill andMelindagatesfoundationthatsupportsthevariouscausesincludingeducationand agricultural development. The ethical practices is the important part of corporate social responsibilities which is adopted by our business. Through this practice our business provides the fair labour practices to employees as well as suppliers which shows the equal pay for equal work which encourage the employees in terms of giving the best possible efforts in the production of the firm which results in the high productivity and profitability of the growth. Economic responsibilities of the business is also plays an important role in corporate
social responsibility activities. These practice of CSR is adopted by our business for facilitating the long term growth to our business. It can be effectively done by our business through maintaining the balance of economic decision with its overall impact on society(Epstein, 2018). Corporate social responsibility plays an important role in improving the brand image of the company. We will demonstrate our commitment to various causes and provides the donation to charity firms which increase the customer loyalty towards our firm because consumers feel good shopping at the institution which help the communities and support non profits activities through monetary donations and volunteer or membership in various trust which helps the poor peoples. Corporate social responsibility also improve the employee engagement in the various operations of the business because employees are interested tom work in the company that have a good public image. It can be possible when companies shows that they are dedicated to develop their communities through providing various gifts and volunteer grants, company are more likely to attract and retain valuable, hard working and engaged employees(Crowther and Seifi, 2018.). For example radisson blu hotel of the hospitality industries has taken a major step towards the fulfilment of its corporate social responsibility for improving its brand image for the sake of attracting new consumers and retaining the existing customers through donating the fund at the time of Kerala flood to help the needy people. The corporate social responsibilities are relevant and applicable to business Beforeopeninganewrooftopcafe,wehaveplannedlotofcorporatesocial responsibility activities so that we are able to gain competitive advantage over our other competitors and beat them which is essential for the smooth running of our cafe in the long run. We have decided that we would provide only healthy and fresh food to the customers as we are very much concerned about the well- being of the society. This step will not only help in keeping our customers healthy and safe but would also help our cafe in developing a positive image in the mind of customers. Thus, in order to provide fresh food to the customers daily we would empty our stock on daily basis. We have even decided that that food would not be wasted rather it would be distributed to the poor people in the society so that even they can fulfil their needs and wants(Epstein, 2018). Another important CSR activity adopted by us is that we will take the liability of keeping our near-by areas clean. This will not only provide satisfaction to the people living in the same
area but would also help our cafe in delivering quality services to the people as no person would prefer to have a meal at the dirty or unhygienic place. The basic idea behind adopting this activity was that it would help in increasing the sales as well as keeping the customers satisfied and happy. Furthermore, we will use environmental - friendly processes in order to minimise the environmental damage. This will not only help in building up the image of the cafe but would also help in avoiding unnecessary complexities in working because of government restrictions. As the government would be of the opinion that the cafe is concerned for the well- being of the society and thus would avoid any policy that would hinder the smooth running of the cafe. Adopting CSR activities is very essential for our cafe so as to establish our footsteps in the service industry. As we are discussed about our business that is Z27 roof top cafe which provides the various food services at the very large to the consumers. The corporate social responsibility are relevant and applicable to our business in terms of improving the overall performance of the cafe because CSR plays a significant role in developing the better brand image in the market place. If we are committed to ethical practices and this news will help in increasing the brand awareness. Many simple changes in the business which are favourable to sustainability such as using less packaging, will help in decreasing the production cost of our business(Crane Matten and Spence, 2019). CONCLUSION The above study has been summarised with that corporate social responsibility plays important role in improving the overall performance of the business because it will increase the brand image and employee engagement which ultimately results in the higher productivity as well as the profitability of the firm. Business can improve their future growth through various principles and practices of sustainability because it plays a important role in promoting the business activities in the market place.
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