Sustainable Business Management: A Case Study of FedEx
Verified
Added on  2023/06/13
|11
|2540
|433
AI Summary
This report analyzes FedEx's sustainable business strategies and recommends the best strategy that suits their requirements. It covers environmental, economic, and social sustainability, and how they can be adopted by businesses. The report also discusses the benefits of sustainability in business and its impact on brand image and profitability.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Sustainable Business Management
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents INTRODUCTION..........................................................................................................................3 TASK...............................................................................................................................................3 CONCLUSION...............................................................................................................................7 REFERENCES................................................................................................................................9
INTRODUCTION Sustainability is an essential term which can be used by business for purpose of meeting present needs without making any compromise with ability to meet future needs (Aluchna, 2018). It is essential for business to adopt sustainability in business in order to get success and growth in market. This project report includes analysation of FedEx which is an American Company multinational company. It was founded in the year 1971 in America by Frederick W. Smith. This project report includes different types of sustainable strategy in business and also recommend best strategy that suits to business requirement. TASK Sustainability can be described as meeting present needs of business that can be without making any comprise in ability of company to meet needs of future. Business for carry out their operation require social, nature as well as economic resources. Sustainability is about social equityandeconomicdevelopment.Itisalsoknownascorporatesustainabilitythatis management as well as coordination of environmental, social as well as financial demands that is related to ensuring responsibility ongoing and ethical success (Ben Amara and Chen, 2021). In broad context, it includes economic,environmental as well as social demand that are main pillars of sustainability. Social and environmental concern of business is facing conflicts with financial goals of company. Goal of business sustainability increase timeline for ROI but after making initial investment, it will increase profitability of business. Adopting sustainability in business allow them to carry out operation in a ways that does not create impact over environment, society as well as members of community. It is important for business to adopt sustainability as it helps to overcome of global challenge that helps them for getting global success. There are different investor who use matri related to environmental, social as well as governance metrics that helps for analyse ethical impact of organisation along with sustainability practices. Investor of business needs to examine and analyse different factors like water usage, carbon footprint of company, broad diversity and community development efforts. Green business network can be described as community for business organisation that includes both small and large organisation which are passionate about environment and make differences in workplace (Buffa, Franch and Rizio, 2018). It is responsibility of business to make changes for development of better environment. Members of green network organisation needs
to complete initial assessment fro carbon emission and also needs to prepare report. They also needs to seek different ways that allow them to reduce water, waste, energy as well as impact over environment. They also needs to engage employees to be green and also advocate at work and at home. FedExisoneoforganisationthatconnectglobaleconomythroughpioneering approaches, innovative technologies as well as customer focused solutions. In order to provide growth for customers, business needs to multiply potential of people as well as efficiency for environment (Castrillon-Orrego, 2019). Business also needs to use innovation for development ofvaluesaswellasopportunities.Differentapproachesthatarerelatedtogovernance, environmental and social are aligned with mission and values of company that is based on system and culture. It is emphasising on long term performance that allow them to make effective decision for business. Sustainability goals of FedEx: FedEx is setting sustainability goals in order to identify ESG topics material in business and also report on progress towards attainment of these goals in annual report (Collins and Saliba, 2020). It is an organisation which is planned to attain carbon neutral operation global in futurewithmakingsignificantinvestmentwhichincludethreesegmentlikevehicle electrification,carbonsequestrationandsustainableenergy.Thesegoalsofcompanyis mentioned below: Vehicle electrification:It is setting a goal for purpose of entire picup as well as delivery in order to reach to zero emission in upcoming year 2040. It is related to operation of company that vehicle used for pickup and delivery should be zero emission. Sustainable fuels:Company is also setting goal to make continue investment in different fuel that allow them to reduce emission. Sustainable customer solution:Company is also making different initiatives like carbon neutral shipping offering as well as sustainable packaging in order to work with customers. Fuel conservation and aircraft modernisation:FedEx is one of organisation which is making continue efforts for purpose of building successful initiates that is designed for purpose of reducing fuel consumption in their planes (Ćwiklicki and O’Riordan, 2018). From the year 2012, initiates are made by companies in order to saves combined 1.43 billion gallon of fuel and also to avoid emission in environment.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Facilities:FedEx is also making efforts and also offering 5000 facilities in different parts of world for making their business more sustainable and also for renewable energy and other management programs. There are various strategies made by business in order to make their business more sustainable. In order to develop sustainable business strategy, FedEx needs to includes different step for purpose of organisation into performance. Explanation of these step for purpose of developing sustainable business strategy of FedEx is mentioned below: Assess problem and define business objectives:It is fist step which is taken by managers of FedEx in which in order to implement change in organisation, managers needs to assess meaning of sustainability for company, industry, team and client. One of problem consider by managers of FedEx is related to priority (Khan and Naeem, 2018). For this, managers needs to consider points like waste created by organisation, struggle with culture of company, hiring practices for attracting new individual, impact of operation of company on local community. Establishing mission:In order to agreed for objectives of company, it is essential for company to define mission of company. It is essential to develop mission statement for company that is important to become more sustainable. Developing a strategy:After development of mission statement, company can align it with sustainable business strategy. In order to develop business strategy for company, it is essential for them to ensure company has their profit. Sustainability efforts of company assist them for purpose of becoming more profitable. Implementing strategy:It is the last step in which business is implementing their strategy in order to get result. It is important for business to attain their objectives and also allow them to assure mission, progress and objectives of company (Peralta and Gismera, 2021). Managers of FEDX needs to implement strategy of business that is essential for them to attain objectives of company. There are three types of sustainable strategies which can be adopted by managers of FedEx in their organisation including environment, economic and social sustainability strategy which are mentioned below: Environmental Sustainability:It can be described as responsibility to conserve natural resources as well as protecting global ecosystem that provide support to well-being and health in future period of time. There are various decision made by business that create impact over
environment. Although thee impact cannot be felt immediately but is of forward looking nature. Environmental sustainability is one that is focusing on meeting present needs of company without making any compromise in ability of company to meet future needs. It is focusing on capacity of company to improve quality of human life at time of living with carry capacity of supporting system of earth (Raji, 2022). It is related to stabilising disruptive relationship among two complex system of earth including living world and human culture. Adoption of environmental sustainability leads to more question related to role played by human. There are different ways in which business can adopt sustainability which are mentioned below: ï‚·Reorganisation of living condition in form of sustainable cities, eco-muncipalities as well as eco-villages. ï‚·Reappraising of different types of economic sectors like green building, permaculture and sustainable agriculture. ï‚·Development and implementation of new technologies like renewable energy and green technologies. ï‚·Development of different adjustment in lifestyle of individual that conserve natural resources. Social Sustainability:Social sustainability can be described as sustainability that is overlooked aspect as sustainability development is mainly focus on environmental and economic aspect. There are mainly three dimension of sustainability that assist for attainment of outcome of sustainability. It is a process for purpose of creating success of sustainable place that assist for promoting well-being that is understandable by people from place they life or work. It is a combined design for physical realm with social world, social amenities, infrastructure to offer support to culture and social life, system for citizen engagement (Sousa-Zomer and Miguel, 2018). It provide ability to community in order to develop process as well as structure that meet present needs to members as well as also provide ability to meet future needs of healthy community. In order to make social sustainability, there are different step to be taken by business like contribute different ways to improve lives of people that affected by business like creating decent jobs, inclusive value chains and creating food and service that meet needs of people. It is also important for business to make social investment along with promotion of public policies that provide support to social sustainability. Business can also partner with other different types of business by collecting all of their strength in order to create positive impact. There are also
different approaches which can be adopt by business for purpose of sustainability including equality, inclusion and diversity. It also includes health and safety, fair labour practices public advisory and community engagement. Economic sustainability:Economic sustainability can be described as practices that provide support to long term economic growth of business that can be without creating environmental, cultural and social impact over community. It context of business, economic sustainability is happen at time when resources of business are used thoughtfully and responsibly for purpose of nurture stable and long term growth. In an economy, sustainability can be occur at them when GDP increase with constant rate and also high enough for affording high standards of living. It is essential for small business as they can afford ability of conduct to engage in market place and also leading for purpose of earning profit for business. Economic sustainability is conducting business in responsible manner and also develop bottom line for not causing harm to business to world. It is important for business practices that create impact over social, cultural and environmental sustainability. From above mentioned strategy, FedEx should adopt environmental sustainability as it improve brand image of company and also provide competitive advantage to business. Adoption of environmental sustainability in this organisation is consider by consumer for purpose of purchase of products and service. It is also important for business to improve sustainable habits of company that translate business to develop favourable condition forassessment of positive environmental and social values. It also increase productivity for business by adopting new technology and utilising resources in effective manner. As a result, cost of company has also decrease and profit of company is increase. Adoption of environmental sustainability allow company to comply with various regulation of business in FedEx. CONCLUSION From above mentioned discussion, it can be concluded that sustainability in business is important as it provide them various benefits. It will improve brand image of company that allow consumer to buy more products of company. Managers of company consider these factor in business as it allow them for purpose of improving their productivity and also to increase profit of business. There are basically three types of strategy for sustainability that can be adopted by business including environmental sustainability, economic and social sustainability. All these
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
sustainability is focusing on different concept that is essential for business in order to carry out their operation in market.
REFERENCES Books and Journals Aluchna, M., 2018. Sustainable business models: The case of the collaborative economy. InSustainable business models(pp. 41-62). Springer, Cham. Ben Amara, D. and Chen, H., 2021. Evidence for the Mediating Effects of Eco-Innovation and the Impact of Driving Factors on Sustainable Business Growth of Agribusiness.Global Journal of Flexible Systems Management,22(3), pp.251-266. Buffa, F., Franch, M. and Rizio, D., 2018. Environmental management practices for sustainable business models in small and medium sized hotel enterprises.Journal of Cleaner Production,194, pp.656-664. Castrillon-Orrego, S.A., 2019. Weaving a Comprehensive Cloth for a Sustainable Business Education: Knitting Ethical Criteria for Sustainability. InMission-Driven Approaches in Modern Business Education(pp. 327-346). IGI Global. Collins, H. and Saliba, C., 2020. Connecting people to purpose builds a sustainable business model at Bark House.Global Business and Organizational Excellence,39(3), pp.29-37. Ćwiklicki, M. and O’Riordan, L., 2018. Creating value via sustainable business models and reverse innovation. InSustainable Business Models(pp. 151-167). Springer, Cham. Khan, B.A. and Naeem, H., 2018. The impact of strategic quality orientation on innovation capabilities and sustainable business growth: Empirical evidence from the service sector of Pakistan.International Journal of Quality & Reliability Management. Peralta,A.and Gismera,L.,2021.Sustainablebusinessmodelinnovationand ethics:a conceptualreviewfromtheinstitutionaltheoryaddressing(un) sustainability.International Journal of Innovation and Sustainable Development,15(4), pp.397-415. Raji, B.S., 2022. Exploring How Artificial Intelligence (AI) Can Support Start-Ups to Manage Crisis Situations for Future Sustainable Business in the Agri-Food Industry. InFuture Role of Sustainable Innovative Technologies in Crisis Management(pp. 192-213). IGI Global. Sousa-Zomer, T.T. and Miguel, P.A.C., 2018. Sustainable business models as an innovation strategy in the water sector: An empirical investigation of a sustainable product-service system.Journal of Cleaner Production,171, pp.S119-S129.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser